The determinants of international financial integration in the MENA area

摘要

The degree of International financial integration has considerably increased over the last two decades and has become a topical area of research. This study aims to offer some insight into understanding this phenomen in the MENA area. Several explanations are considered and discussed such as trade openness, the level of development, the financial market development, the inflation rate, fluctuations in the exchange rate, the financial crisis of 2008 and the tax policy. Overall, the results provide strong evidence in support of our choice of drivers of international financial integration.