Déterminants du développement financier dans la région du MENA (1996-2011): Évidence d’un Panel

Abstract

Using a panel of 21 MENA countries, this paper investigates and examines macroeconomic and institutional determinants of financial development in this region. The foremost results of panel data technique highlight the critical importance of the institutional variables, as captured by the capacity of government to formulate and implement sound policies and the respect of institutions by both citizens and the states. Other main results focus the important position of the financial openness in determining the banking development in MENA region, particularly in petroleum countries