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Middle East and Central Asia > Saudi Arabia

You are looking at 1 - 2 of 2 items for :

  • Type: Journal Issue x
  • 'Panel Data Models; Spatio-temporal Models' x
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Cover IMF Working Papers
Oil Prices and Bank Profitability: Evidence From Major Oil-Exporting Countries in the Middle East and North Africa
Mr. Heiko Hesse
and
Mr. Tigran Poghosyan
This paper analyzes the relationship between oil price shocks and bank profitability. Using data on 145 banks in 11 oil-exporting MENA countries for 1994-2008, we test hypotheses of direct and indirect effects of oil price shocks on bank profitability. Our results indicate that oil price shocks have indirect effect on bank profitability, channeled through country-specific macroeconomic and institutional variables, while the direct effect is insignificant. Investment banks appear to be the most affected ones compared to Islamic and commercial banks. Our findings highlight systemic implications of oil price shocks on bank performance and underscore their importance for macroprudential regulation purposes in MENA countries.
Keywords:
WP; bank; price; oil price shock; profitability; bank profitability; oil price shocks; system GMM; bank inefficiency; bank owner; world oil price; bank specialization; terms of bank assets; bank behavior; macroeconomic factor; bank performance; bank type; shock variable; bank size; cyclical bank lending; Oil prices; Bank soundness; Credit risk; Islamic banking; Inflation; Global; Middle East; North Africa; East Africa
Cover IMF Working Papers
The Long-Run Effects of Tradeon Income and Income Growth
Mr. Allan D. Brunner
This paper examines the dynamic relationship between trade and income. While most economists agree that increased trade leads to an increase in average income, economic theory is ambiguous about the possible effects on the long-run growth rate of the economy. Using a dynamic panel data model, the hypotheses of no long-run effects of trade on income and on income growth are tested explicitly. The possibility of endogeneity is addressed by constructing an instrument for trade by extending Frankel and Romer's (1999) cross-sectional approach to the case of a panel data model. The empirical results indicate that trade has a large and significant effect on the level of income, but the effect on income growth is small and non-robust to model specification.
Keywords:
WP; panel data model; trade liberalization; economic growth; economic development; trade share; income growth; trade openness; trade-output relationship; constructed trade instrument; instrument specification; effects of trade; Personal income; Plurilateral trade; Agroindustries; Estimation techniques; North America; Africa; Global