Impact du développement financier sur la dynamique de création des entreprises : évidence en données de panel sur les pays du MENA

GHANEM, Yasmina and ACHOUCHE, Mohamed (2015): Impact du développement financier sur la dynamique de création des entreprises : évidence en données de panel sur les pays du MENA.

Abstract

Résumé: Sur un panel de 14 pays de la région Moyen Orient, Afrique du Nord (MENA), le présent papier examine si le développement financier entraîne un effet considérable sur le développement de l’entrepreneuriat en facilitant l’émergence de nouvelles entreprises. Les résultats estimés par les doubles moindres carrés généralisés en variables instrumentales accentuent l’importance des systèmes financiers développés pour la dynamique de création des entreprises. Globalement, le développement financier et sa composante expliquée par la qualité institutionnelle affectent positivement et significativement la densité d’entrée dans les pays pétroliers comparativement aux pays non pétroliers.

Abstract: Using a panel of 14 Middle East, North Africa (MENA) countries, this paper investigates and examines whether financial development trains a substantial effect on entrepreneurship development by facilitating the rise of new firms. Generalized Two-Stage Least Squares estimate results with instrumental variables highlight the relevance of developed financial systems for the creation of new firms. In Overall, financial development and its component explained by the institutional quality exert a positive and significant effect on new entry density in oil MENA countries compared to non-oil ones.

• Item Type: MPRA Paper
• English Title: Financial development impact on firm dynamic creation: panel data evidence on MENA countries
• Language: French
• Keywords: développement financier, création des entreprises, densité d’entrée, MENA, panel.
• Subjects: C - Mathematical and Quantitative Methods > C2 - Single Equation Models ; Single Variables > C23 - Panel Data Models ; Spatio-temporal Models; E - Macroeconomics and Monetary Economics > E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook > E69 - Other; G - Financial Economics > G2 - Financial Institutions and Services > G21 - Banks ; Depository Institutions ; Micro Finance Institutions ; Mortgages; L - Industrial Organization > L2 - Firm Objectives, Organization, and Behavior > L26 - Entrepreneurship

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