عنوان مقاله [English]
Investment and capital accumulation caused the key to economic growth in each country is considered. One of the main problems and barriers to investment in developing countries, shortages and lack of domestic financial resources is assured. Therefore, funds received from the institutions of international development at one of the available resources to finance part of the investment needs of developing countries. Some of these institutions like the World Bank for purposes such as reducing poverty and improving developing countries are working. However, these facilities may be entering the economy of these countries to adverse effects be followed. In this study, a model for private sector investment is designed to function of public sector investment, GDP, inflation and theWorld Bank Lending Facilities. The desired pattern, with 10 countries MENA field time series from 1970 to 2006 using Generalized Methods of Moments (GMM) has been fitted. The results of the estimation model used here have shown that the World Bank granted credits of private sector investment was negative and decrease in private sector investment has been. The effect of public sector investment on private sector investment led to the creation Crowding in effect and the effect of changing inflation rates on changes in private sector investment has been negative sign that this effect is expected.