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

100%

Louail B. , Ben Haj Hamida H.

tom Vol. 25, no. 2

1--22

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.

The effect of natural resources and foreign direct investment on economic growth

80%

Mahfoudi F. , Riache S. , Louail B.

Economics and Environment

2024

tom No. 1

art. no. 731

The proposed research aims to examine The Impact of Natural Resources and Foreign Direct Investment on Eco-nomic Growth in Algeria during the period 1970-2021 and compare it with the Saudi economy, which is considered the closest economy in terms of natural resources. Analyse the factors influencing economic diversification and innovation. The research seeks to understand the impact of natural resources, including oil and gas, on the Algerian economy and study the factors influencing sustainable development and economic diversification. This research employs the Autoregressive Distributed Lag (ARDL) approach. The findings suggest that, in total, there is The Impact of Natural Resources and Foreign Direct Investment on Economic Growth in Algeria during the period 1970-2021. The positive correlation between resources and economic growth highlights resource extraction's role in Algeria's economic development. It underscores the need for diversification to reduce dependence on commodity markets. The research focuses solely on economic factors, neglecting social and political dynamics. Limited data availability may constrain the depth of analysis, potentially overlooking nuances in the relationship between natural resources, FDI, and economic growth. The findings offer insights for Algerian policymakers to develop strategies for sustainable economic growth, emphasising the need for diversification beyond natural resources. Recommendations may inform policy decisions aimed at fostering innovation, reducing dependency on volatile resource sectors, and promoting environmental sustainability.