Asymmetry Relationship between Economic Growth and Unemployment Rates in the Arab countries: Application of the OKUN Law during 1960-2017

• Autorzy: Louail Bilal , Ben Haj Hamida Hayed

Identyfikatory

DOI

10.2478/manment-2019-0070

• Języki publikacji: EN

Abstrakty

EN

A well-known macroeconomic relationship is called the OKUN Law, which states that the negative correlation between unemployment rates and raw domestic output can be determined. This study will focus on the theoretical framework for developing models of the elationship between economic growth and unemployment rates. This study contributes to the existing literature by estimate Okun’s law for Arab economies during the period 1960–2017. The results of this study indicate that Okun’s coefficient is valid for the case of Arab countries in the different version, when unemployment rates reach the threshold and are between 6.35 and 7.933, in which the impact of the GDP on unemployment rates is negative and significant, with a significant level of 1 per cent. As for outside the threshold, i.e. less than 6.35 and more significant than 7.933, this effect is negative, but it is not significant. Moreover, the decision-makers in Arab countries seek to raise economic growth rates to address unemployment. This investigation provides original empirical evidence on the association between unemployment and economic growth within Arab countries. The current international literature lacks empirical evidence on the relationship between variables of this study for Arab countries as a whole.

Słowa kluczowe

EN

Okun Law; gross domestic product; unemployment rate; Arab countries

PL

prawo Okuna; produkt krajowy brutto; stopa bezrobocia; kraje arabskie

• Wydawca: University of Zielona Góra, Faculty of Economics and Management
• Czasopismo: Management
• Rocznik: 2021
• Tom: Vol. 25, no. 2
• Strony: 1--22
• Opis fizyczny: Bibliogr. 42 poz., tab., wykr.

Twórcy

autor

Louail Bilal

• College of Business Administration, Northern Border University, Arar, Saudi Arabia
• Faculty of Economic, Commercial and Management Sciences, University of M’Hamed BOUGARA Boumerdes, Algeria

• https://orcid.org/0000-0002-2383-4329

autor

Ben Haj Hamida Hayed

• Univ. Carthage, Institut des Hautes Etudes Commerciales de Carthage (IHEC), Tunisia and Univ. Tunis
• El Manar, Faculté des Sciences Economiques et de Gestion de Tunis (FSEGT), Prospective, Stratégies et Développement Durable Laboratory (PS2D), Tunisia

• https://orcid.org/0000-0001-7002-6052

Bibliografia

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Uwagi

Opracowanie rekordu ze środków MNiSW, umowa Nr 461252 w ramach programu "Społeczna odpowiedzialność nauki" - moduł: Popularyzacja nauki i promocja sportu (2021)