Trade in Goods and Services and Its Effect on Economic Growth –The Case of Jordan. Applied Econometrics and International Development

Sandri, S.; Alshyab, N.; Ghazo

The paper aims at empirically investigating the specific growth contribution of the trade in goods and services in Jordan for the period 1980-2014. The model is estimated using the Fully Modified Ordinary Least Squares approach. Among the results, it emerges that trade in goods has a negative effect on GDP in Jordan, whereas trade in services positively affects economic performance.

5+5 Dialogue a mechanism of regional integration and cooperation

Rym Ayadi, Emanuele Sessa

This paper looks into the integration patterns between the 5+5 countries by assessing the most recent evolutions of investment, trade and employment in the region to highlight such challenges and formulates recommendations to pave the way for dialogue and cooperation conducive to tangible results on which to build a new momentum for integration in the region.

Working Paper: The Nexus Between Internal and External Macroeconomic Imbalances – Evidence from Egypt

Omneia Helmy, Chahir Zaki

This paper examines the nexus between internal and external imbalances of the Egyptian economy. In fact, both the twin-deficit hypothesis (TDH) and the Feldstein–Horioka (FH) paradox are examined. Using quarterly data (between 2002 and 2014) in order to capture the short-term dynamics that might affect the Egyptian economy, a Granger causality test and an error-correction model are run in order to determine both the short-term adjustment and the long-run relationship between internal and external imbalances. Our main findings show that the TDH is rejected and a reversed causality running from the current account to the budget deficit exits. Moreover, the FH puzzle is partially rejected since Egypt, while not being perfectly integrated in the world capital market, has a high degree of capital mobility.

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