BACKGROUND/OBJECTIVES: Many economies are on the trajectory of alternative growth drivers other than conventional capital and labor. Access to credit facilities is a pertinent indicator of economic growth. In line with the United Nations Sustainable Development Goals (UNSDGs-8) agenda, the national goal for sustainable development for most economies and Arab economies is no exception. Therefore, the current study adopts a traditional growth model by exploring the relationship between gross domestic product (GDP) per capita, credit for private sectors, ratio of exports, real GDP, and per labor force participants for selected Arab economies annually from 2001 to 2020. RESEARCH DESIGN: This study leverages the Fourier Kwiatkowski-Phillips-Schmidt-Shin (KPSS) unit root test and second-generation panel econometrics as estimation techniques, such as Westerlund and Edgerton panel cointegration test, and the use of two estimators, namely the augmented mean group (AMG) and common correlated error mean group (CCEMG), to obtain robust results. FINDINGS: Empirical findings from Westerlund and Edgerton panel cointegration tests validate the long-run equilibrium relationship among the outlined variables. Further empirical results indicate that the share of exports is negatively significant with economic growth in countries such as Kuwait, Lebanon, Tunisia, and Jordan. Additionally, savings and labor force participation have a positive relationship with economic growth in individual countries such as Algeria and Bahrain. As per the panel, there is no significant relationship between labor force participation and economic growth. This indicates that the skilled labor force enhanced economic growth. CONCLUSIONS: These findings come with inherent far-reaching policy suggestions for economies and panels. Further details on country-specific policy actions are presented in the concluding section.

Adnan Kassar School of Business Lebanese American University Beirut Lebanon

Department of Banking and Finance Eastern Mediterranean University North Cyprus Via Mersin 10 Famagusta Turkey

Department of Econometrics Faculty of Political Sciences Sakarya University Esentepe Campus Serdivan Sakarya Turkey

Department of Humanities and Social Sciences National Institute of Technology Rourkela Rourkela 769008 Odisha India

Department of Recreology and Tourism Faculty of Informatics and Management University of Hradec Králové Hradec Kralove Czech Republic

Faculty of Economics Administrative and Social Sciences Istanbul Gelisim University Istanbul Turkey

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