Foued Badr Gabsi

This study aims to assess the impact of socio- and eco-efficiency on the financial performance of 180 European companies from 2010 to 2022. Data Envelopment Analysis (DEA) was used to measure the companies’ socio- and eco-efficiency, while their financial performance was assessed using the equitable weighting approach. The analysis revealed a posit...

This article analyzes monetary policy under inflation targeting in a developing economy using a hybrid new Keynesian model to determine the optimal policy rule. Firstly, we estimate the model's parameters using a Bayesian approach with data from the Tunisian economy from 2000 Q1 to 2020 Q4. Then, we solve an optimization problem to evaluate differe...

The growing level of public debt in Latin American and Caribbean (LAC) countries has raised awareness of debt sustainability and fiscal consolidation issues. This study deals with fiscal sustainability by estimating fiscal reaction function (FRF) for a panel of 9 LAC countries from 2000 to 2016. We rely on the standard logistic regression model as...

In this article, we assess the impact of inflation on the current account balance in the case of Tunisia, covering the period 1976–2022. The study utilizes a threshold regression approach proposed by Hansen (2001) in a bid to identify inflation threshold values. The results show two inflation threshold values (3.87% and 8.41%), which determine thre...

Several studies on economic transition propose that structural change in developing countries, that involves reallocating from less productive to more productive sectors, might enhance participation in global value chains (GVCs). However, there is a lack of empirical work on this claim. This study explores the factors affecting global value chain (...

Considering the substantial environmental and economic consequences, countries worldwide have placed renewable energy at the forefront of their priorities. While previous empirical research has extensively explored the link between renewable energy and economic growth, this study seeks to address an overlooked aspect by investigating the potential...

In this paper, we tried to contribute to the previous literature by analyzing the effect of external and domestic shocks on the current account balance. Using a Structural vector autoregression (SVAR) technique, we specifically examine the effect of external and domestic shocks on the current account balance considering the case of the MENA region...

This article investigates the relationship between energy poverty and public expenditure for a sample of 20 Sub-Saharan countries over the period 2006–2020. This paper focuses on three research objectives. First is using a panel data threshold model with fixed effects proposed by Hansen (J Econom 93(2):345-368, 1999) to detect the presence of the n...

This paper aims to examine the impact of the uncertainty shock on the Tunisian economy and the effectiveness of monetary policy during the Covid-19 pandemic. For this purpose, we employ a Bayesian VAR model considering the world uncertainty index (WUI) as a new proxy for uncertainty measure and the short-term interest rate as the main instrument of...

The study explains the non-linear relationship between total public debt and twin imbalances, across a panel of 15 countries in the MENA (Middle East and North Africa) region from 2003 to 2019. A panel data threshold model with fixed effects proposed by Hansen (1999) estimates two debt-to-GDP thresholds (36.71% and 72.99%), which determine three de...

This paper examines the relationship between the current account balance and participation in global value chains (GVCs) while considering institutional quality in the Middle East and North Africa (MENA) region over the period 2006-2018. We identify the key fundamentals of current account balances by estimating Bayesian Model Averaging (BMA) supple...

Purpose Departing from the expansionary austerity literature, this study aims at examining how fiscal consolidation affects the economic growth in Tunisia using annual data over the period 1970–2018. Design/methodology/approach To revisit the fiscal consolidation-economic growth nexus, the ambiguous empirical findings in previous literature make u...

The spread of the coronavirus disease (COVID-19) around the world led to increasing fear and uncertainty, which is rolling in financial markets and plunging the global economy into recession. In this chapter, we will try to measure the depth, as well as the extent of the damage caused by the current health crisis on the activity of the main Asian s...

This paper investigates the relationship between democracy and public debt in the Arab world over the period 2002-2013. The results show strong evidence of an inverted U-shaped relationship between democracy and public debt. This means that democratization is associated with lower debt only when a certain level of democracy is reached. In an attemp...

Following the present scale of fiscal imbalances, governments often implement fiscal consolidation programs to restore macroeconomic stability. This paper empirically explores the connections between social expenditure, current account and fiscal consolidations using the system-GMM estimator, on a panel of 23 emerging and middle-income countries fo...

This article examines the relationship between the current account, workers' remittances, and financial development while taking into Institutional quality in 14 countries in the Middle East and North Africa (MENA) region over the period 1995-2020, using nonlinear autoregressive distributed lag (NARDL). By applying the index of political stability...

Dans cet article, nous étudions les interactions entre la dette publique, l’investissement public et la croissance économique en Afrique. Pour ce faire, nous avons estimé un modèle à équations simultanées moyennant des données de panel relatives à 32 pays de l’Afrique subsaharienne entre 2000 et 2011. Les résultats dégagés permettent de conclure qu...

This paper examines the relationship between current account and financial development, while taking into account institutional quality in the Middle East and North Africa (MENA) region over the period 1990–2018. By applying various measures of the quality of institutions and two indices representing financial development, we found that, while most...

This document aims to determine the empirical link between current account balances and a set of economic variables proposed by the theoretical and empirical literature. To do this, we first use a generalized method of moments (GMM) dynamic panel regression technique to identify the key fundamentals of current account balances in certain economies...

This paper examines the relationship between democracy and foreign direct investment (FDI) in the Arab World over the period 2002–2013. The results show strong evidence of an inverted U-shaped relationship between democracy and FDI. This means that democratization should only be FDI-fostering if a country is not sufficiently democratic. In an attem...

This study explores the effect of political institutions on the finance-growth nexus for a sample of 24 Sub-Saharan African countries over the period 2002-2011. Using the recent dynamic panel threshold model proposed by Seo and Shin (2016), we found that financial development has a growth-enhancing effect only in countries with strong political ins...

This paper assesses the nonlinear effect of domestic public debt on financial development using a panel of 20 low-income Sub-Saharan African countries over the period 2000-2010. Based on the framework proposed by Lind and Mehlum (2010), our analysis confirms the existence of an inverted-U relationship between domestic public debt and bank credit to...

Nous cherchons au niveau de cette étude à vérifier l’hypothèse selon laquelle la dette publique interne affecte la croissance à travers son impact sur l’activité du système bancaire des pays Africains. A cet effet, nous estimons un modèle à équations simultanées en panel dynamique basé sur un échantillon de 20 pays de l’Afrique Subsaharienne couvra...

This paper seeks to check the existence of possible nonlinearity in the behavior of the Central Bank of Tunisia (CBT) in response to changes in macroeconomic variables over 2000:1-2018:12 period (pre-and post-2011 revolution). We used a general model with asymmetric loss function, which enables Central Bankers to weight differently positive and neg...

In this paper, we use the Bohn (1998) test inspired by Fincke and Greiner (Studies in Nonlinear Dynamics & Econometrics, 15(3), 1–21, 2011b) to study whether the primary surplus relative to the gross domestic product (GDP) is a positive function of the public debt to GDP ratio in order to detect the sustainability of debt policies in Tunisia for th...

This paper analyzes the relationship between education and democracy with a focus on the recent political events of the Arab Spring. In this regard, we examine the effect of five different measures of education on democracy using a dynamic panel regression model for a sample of 15 Arab countries over the period 1990–2013. The obtained results indic...

The purpose of the paper is to examine the direct and indirect links between democracy and economic growth. To do so, the authors estimate a dynamic panel simultaneous equations model on a sample of 16 Arab countries during the period 2002–2013. This study focuses on two particular channels through which democracy affects growth, namely FDI inflows...

This article seeks to check the nonlinearity of the Phillips curve in Tunisia for the 1993–2012 period, relying on a hybrid new Keynesian Phillips curve modeled via a Logistic Smooth Transition Regression (LSTR) model with endogenous variables. We estimate this model using the nonlinear instrumental variables. The empirical results corroborate the...

This paper reexamines the hypothesis that there exist an inflation threshold effect in the finance-investment nexus. Our analysis, based on a panel threshold model, confirms the existence of a strong non-linear relationship between financial development and investment. Results for a panel of 10 African countries over the period 1981-2010, indicates...

L’objectif de ce papier est de tester la non-linéarité de la règle suivie par la Banque centrale de Tunisie (BCT) en se référant à une règle de Taylor «forward looking». Nous faisons appel dans notre investigation empirique au modèle de régression à transition lisse logistique (RTLL) qui tient compte de l’asymétrie dans la structure du modèle. Nos...

This study has been implemented using data drawn from the first innovation survey conducted in Tunisia in 2005 for years 2002, 2003 and 2004. We use this comprehensive dataset to uncover main determinants of innovation in Tunisian firms by applying an exploratory tentative logistic regression. The findings of this study are summarised as follows: 1...

In the last years we can observe a change in the analysis of technology transfers to developing countries. Instead of examining the formal and legal aspects of the sellers and buyers of technology, enfasis is given to absorption capacity of the technology "receptors", that is their capcity to integrate, manage, develop and master the adquiried tech...