Assessing Economic Takeoff and Growth in the Arab World An Econometric Study (1990–2023)
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Abstract
Economic takeoff is a critical phase in the development of emerging economies, signifying a transition towards sustained economic growth. This study assesses the relationship between economic takeoff and economic growth in 11 Arab countries from 1990 to 2023 using econometric methods. Employing panel unit root tests, the Pedroni cointegration test, and the Fully Modified Ordinary Least Squares (FMOLS) estimation technique, the study examines the long-term equilibrium relationships between investment, capital accumulation, foreign trade, and economic growth. The findings reveal that economic takeoff is characterized by overcoming structural constraints through investment and capital formation. The study confirms that investment, capital accumulation, and trade balance positively and significantly influence economic growth, highlighting the need for policies that enhance infrastructure, financial systems, regional trade integration, and human capital development to sustain long-term economic expansion in Arab economies.
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