Trade volume and economic growth in the MENA region: Goods or services? |
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| Institution: | 1. Gulf University for Science and Technology, Kuwait;2. Faculty of Economics and Political Science, Cairo University, Egypt;1. Department of Dermatology, Venereology and Allergology, University Medical Center, Georg August University Göttingen, Göttingen, Germany;2. Lower Saxony Institute of Occupational Dermatology, University Medical Center Göttingen and University of Osnabrück, Osnabrück, Germany;3. Department for Hematology and Oncology, University Medical Center, Georg August University, Göttingen, Germany;4. Dermatology Office, Elmshorn, Germany;5. Department of Dermatology and Venereology, University Medical Center, Rostock, Germany |
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| Abstract: | This paper explores the macroeconomic and sectoral effects of goods and service trade on the economic performance of MENA countries for the period 1960–2011. While the MENA region has been widely neglected in the trade and growth literature, this paper offers a decomposition of MENA GDP growth in order to disentangle the contributions of both service and goods trade. The results show a positive association between real GDP and both service and goods trade. The interaction term between trade in goods and trade in services is negative, suggesting that as goods trade increases, the marginal effect of service trade on real GDP decreases. However, the overall effect of service trade on real GDP is positive. The decomposition of GDP growth reveals a greater impact of goods trade, although service trade is important, and for most countries greater than the effect of tertiary enrolment. |
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