Band 21, Heft 3

This study investigates the impact of financial inclusion on bank stability in the MENA region over the period 2004–2022, using a panel of 201 banks from 15 MENA countries. Three multidimensional proxies for financial inclusion are constructed using data from the IMF Financial Access Survey. The study employs the two-step system generalized method of moments (GMM) and quantile regression to ensure the robustness of results. The findings consistently reveal a negative and statistically significant relationship between financial inclusion and bank stability, suggesting that expanding access to financial services may increase instability when not supported by adequate financial literacy and regulatory safeguards. In addition, the results show that bank-specific factors such as credit risk, cost-efficiency, size, and income diversification significantly affect stability. At the macro level, GDP per capita was found to be negatively associated with stability, while governance indicators showed to have constructive influence. The findings suggest that policymakers should adopt a cautious and sequenced approach to financial inclusion, ensuring that risk mitigation and consumer education mechanisms are in place before scaling up access.

This paper investigates the effects of international (IFI) and regional financial integrations (RFI) on structural domestic conditions represented by financial development and governance in Middle East and North Africa economies (MENA) during the 1992–2020 period. The generalized method of moments estimation results suggest that too much IFI deters while higher levels of RFI, measured based on bilateral financial flows, promote financial development. High levels of IFI and RFI both tend to be positively associated with institutional quality and governance. The empirical findings in this paper propose that MENA economies should engage in structural reforms, encompassing liberalization of capital accounts, eliminating barriers to regional financial integration, enhancing the institutional environment and financial development. In this vein, policymakers may be suggested to formulate strategies with the goal of maximizing the beneficial effects of both international and regional financial integrations.

This study explores the effects of foreign direct investment (FDI) and official development assistance (ODA) on financial inclusion across MENA countries from 1960 to 2023. Using a VAR model, we compute impulse response functions and variance decompositions. The findings show that, for most countries, FDI and ODA have minimal and short-lived effects on financial inclusion. However, Lebanon stands as an exception: financial inclusion (specifically FI_2) responds significantly and positively to an FDI shock, and the effect is more persistent compared to other countries. Variance decomposition further indicates that FDI shocks contribute the most to the forecast error variance of financial inclusion in Lebanon, highlighting the relatively stronger role of FDI in shaping its financial inclusion dynamics. Overall, the limited influence of external financial flows elsewhere in the region suggests that they are insufficient for sustained improvements in financial inclusion. Instead, domestic factors remain critical, as evidenced by the strong and stabilizing response of financial inclusion to its own shocks. These results underscore the need for internal resilience and tailored national policies to effectively enhance financial inclusion across MENA countries.

This study examines the impact of technology usage on the gender wage gap in Egypt, analyzing wage disparities across three groups: technology professionals (ICT sector), technology users (non-ICT jobs utilizing digital tools), and nonusers (no technology engagement). Using the 2023 Egypt Labor Market Panel Survey (ELMPS), we estimate gender-disaggregated wage equations via Ordinary Least Squares (OLS) and Instrumental Variables Two-Stage Least Squares (IV-2SLS) to address endogeneity, and apply a two-step Heckman selection model to correct for employment selection bias. The Neuman–Oaxaca decomposition distinguishes explained and unexplained components of the gender wage gap. Results reveal that technology professionals exhibit a negligible gender wage gap, though unobserved factors, such as longer working hours, disproportionately favor men. Technology users show a modest gap driven by undervaluation of women’s skills and occupational segregation, while nonusers face a substantial wage gap (approximately 24 %) largely due to discrimination and structural barriers. These findings suggest that engagement with technology enhances women’s earning potential, yet persistent gender-based disparities remain outside technology-intensive roles. Policies promoting equitable access to digital skills, fair pay practices, and occupational integration are recommended to reduce wage inequalities.