Affiliation:
1. Southern Illinois University – Carbondale, USA
Abstract
This study examines the extent to which higher quality governing institutions substitute for or complement economic diversification to promote macroeconomic stability in Middle Eastern and North African (MENA) countries. In contrast to previous findings, we found that economic concentration reduces volatility. Moreover, stronger effects emerge for countries with good governance. Economic concentration lowers macroeconomic volatility, especially in countries with good governance.
Publisher
Asia-Pacific Applied Economics Association
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