Does religious affinity help firms to get access to foreign markets? This column reports evidence that sharing Islamic beliefs with potential customers abroad eases the first-time access to export markets of manufacturing firms active in Turkey. The nexus between religiosity and trade may help to explain the recent tightening of Turkey’s trading relationship with the Muslim world – and between Muslim-majority countries more generally.
The Forum, a policy portal for the Middle East and North Africa, was launched in October 2017 with the aim of becoming ‘the platform’ for rich and relevant debates in the region on economic, social and political development issues. This column reviews progress to the end of 2018.
Well-functioning democracies and economies require voters that evaluate the economic performance of governments and reward or punish them accordingly. For that reason, low and steadily declining electoral participation in North America and Western Europe is viewed with alarm. There is no such tendency in Turkey, where the turnout rate is about twice as high as in many industrialised countries. This column discusses key factors that determine electoral participation in Turkey.
Studies of the relationship between foreign investor participation in public equity markets and aggregate economic activity in emerging economies find strong effects on productivity, investment, economic growth and the price of publicly traded stocks – but it is not clear why. This VoxEU column shows that equity capital inflows increase the supply of funding available to firms in emerging economies, encouraging them to obtain more equity financing to invest and expand. Large firms benefit most from the inflows.
Different circumstances offer different opportunities for the emergence of populism. This column contrasts the rise of populist movements in the established democracies of the West with the uprisings against entrenched autocracies in the Arab region. While many of the latter have been reversed or sparked civil conflict, there is hope in Tunisia’s gradual transition towards consolidating a fully-fledged democracy.
Evidence is mixed on the effects of multinational activity on productivity and competitiveness in host economies. This column provides new evidence that previous estimates of the effects of multinationals on productivity may have been under-estimated. Analysis of data from Turkey’s manufacturing census suggests that the ownership structure of multinationals and foreign acquisitions play an important role in driving aggregate productivity growth.
The countries of the Gulf Cooperation Council (GCC) are all seeking to promote diversification of their economies away from continued dependence on the energy sector, yet oil prices remain the main driver of economic growth in the region. This column discusses how the GCC countries should respond to the ‘new normal’ of ‘low for long’ oil prices, with a goal of supporting growth while ensuring fiscal sustainability and macroeconomic stability.
Understanding the impact of the Syrian refugee influx on education in Jordan
Amman, 13 May 2018. H.E Dr. Omar Razzaz (Jordan Minister of Education) talks about the impact of the Syrian refugee influx on Jordan education