Currency Convertibility in the Middle East and North Africa PDF Download

Author: Mr.Saleh M. Nsouli
Publisher: International Monetary Fund
ISBN: 9781557755643
Category : Business & Economics
Languages : en
Pages : 204

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Book Description
Currency convertibility is a far-reaching instrument to facilitate integration into the global economy. With it a country can gain the benefits of increased freedom in capital movements and of fostering trade and financial linkages worldwide. A seminar sponsored by the Arab Monetary Fund and the IMF, held in Marrakesh, Morocco, discussed the theoretical and empirical aspects of currency convertibility in the Arab countries. The volume, edited by Manuel Guitián and Saleh M. Nsouli, reproduces the papers presented at the seminar.

Author: David Cobham
Publisher: Routledge
ISBN: 1136864164
Category : Business & Economics
Languages : en
Pages : 295

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Book Description
Monetary policy in the Middle East and North African (MENA) countries remains an understudied area; this book fills an important gap by examining monetary policy frameworks and monetary policy strategies in the region. Building on the editors’ earlier book, Monetary Policy and Central Banking in the Middle East and North Africa, which focused on central bank independence issues and on exchange rate regimes, this book emphasises monetary policy strategies. Part I contains an overview of the financial markets and institutions which condition the choice of monetary policy strategy in the countries of the region, followed by single-country studies on aspects of the monetary policy frameworks of Lebanon, Egypt, Jordan, the Palestinian Territory and Turkey. Part II includes analyses of the prospects for inflation targeting in Egypt, Morocco and Tunisia, of the monetary transmission mechanism in the Gulf Cooperation Council countries, of the relative advantages of inflation targeting and exchange rate fixity with reference to Egypt, of the problem of fiscal dominance in Egypt, and of the inflationary implications of exchange rate fixity for Saudi Arabia and Kuwait. The contributors are experts from universities inside and outside the MENA region, from central banks in the region and from outside institutions such as the European Central Bank and the International Monetary Fund.

Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 9781589062306
Category : Business & Economics
Languages : en
Pages : 32

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Book Description
This paper reviews the exchange regimes of five emerging market countries in the Middle East and North Africa region-Egypt, Jordan, Lebanon, Morocco, and Tunisia-and one oil-exporting country-Iran-to see whether they need to consider adopting more flexible arrangements as they further open their economies to trade and capital flows.

Author: Mr.Simon Gray
Publisher: International Monetary Fund
ISBN: 1484349032
Category : Business & Economics
Languages : en
Pages : 176

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Book Description
This paper documents the main themes covered in two seminars (December 2011 and September 2012) on monetary policy and implementation at the IMF—Middle East Center for Economics and Finance, and includes country case studies. Against the backdrop of the global financial crisis and swings in cross-border capital flows, operational frameworks have become more flexible, and liquidity management has impacted the relationship between the policy rate corridor and market rates. The balance sheet structure of central banks in the Middle East and North Africa (MENA) shows differences between oil exporters and others, while a few countries have exhibited notable changes since early 2011. Collateral now has a significant financial stability function. Although only one MENA country is part of the G20, implementation of the Basel III bank capital adequacy and liquidity rules will most likely impact banks’ way of doing business in MENA countries, even if indirectly.

Author: Ms.Susan Fennell
Publisher: International Monetary Fund
ISBN: 9781557757111
Category : Business & Economics
Languages : en
Pages : 54

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Book Description
The economy of the Middle East and North Africa improved considerably in 1996, and remained favorable in 1997. This paper, by Mohamed A. El-Erian and Susan Fennell, presents an assessment of the recent experience of the MENA economies and examines prospects for 1998 and beyond.

Author: Mohamed Sami Ben Ali
Publisher: Springer
ISBN: 1137480661
Category : Business & Economics
Languages : en
Pages : 227

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Book Description
Using cases on individual countries, Economic Development in the Middle East and North Africa offers diverse theoretical and empirical evidence on a variety of issues facing policymakers, investors, and other stakeholders in the region.

Author: Mr.Joannes Mongardini
Publisher: International Monetary Fund
ISBN: 1451842155
Category : Business & Economics
Languages : en
Pages : 42

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Book Description
In light of the real appreciation of the Egyptian pound over the last six years and Egypt’s lackluster export growth, questions of external competitiveness and exchange rate policy have arisen. This paper sheds light on these issues by estimating empirically Egypt’s equilibrium real exchange rate, that is, the rate that is consistent with fundamentals. The results show that, while the real exchange rate was substantially overvalued before 1993, today it is only moderately above the equilibrium rate. Moreover, the analysis shows that the recent appreciation of the pound does not indicate a worsening misalignment.

Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 9781557756251
Category : Business & Economics
Languages : en
Pages : 84

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Book Description
Countries in the Middle East and North Africa region have unprecedented opportunities for transforming their economies through accelerated economic growth, but the countries themselves must ensure the necessary conditions. This study, by the Middle Eastern Department, focuses on four areas that are fundamental to growth-enhancing structural changes: improving the region's investment performance, fiscal reform, financial sector reform, and trade liberalization.

Author: International Monetary Fund. Independent Evaluation Office
Publisher: International Monetary Fund
ISBN: 1589064151
Category : Business & Economics
Languages : en
Pages : 114

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Book Description
Drawing on evidence from a sample of emerging market economies over the period 1990-2004, this evaluation report reviews the IMF’s approach to capital account liberalization and related issues. The evaluation seeks to contribute to transparency by documenting what in practice has been the IMF's approach to these issues and to identify areas where the IMF’s instruments and operating methods might be improved, in order to deal with these issues more effectively.

Author: Raymond Hinnebusch
Publisher: Routledge
ISBN: 1000710874
Category : History
Languages : en
Pages : 895

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Book Description
Conflict and instability are built into the very fabric of the Middle East and North African (MENA) state and states system; yet both states and states system have displayed remarkable resilience. How can we explain this? This handbook explores the main debates, theoretical approaches and accumulated empirical research by prominent scholars in the field, providing an essential context for scholars pursuing research on the MENA state and states system. Contributions are grouped into four key themes: • Historical contexts, state-building and politics in MENA • State actors, societal context and popular activism • Trans-state politics: the political economy and identity contexts • The international politics of MENA The 26 chapters examine the evolution of the state and states system, before and after independence, and take the 2011 Arab uprisings as a pivotal moment that intensified trends already embedded in the system, exposing the deep features of state and system—specifically their built-in vulnerability and their ability to survive. This handbook provides comprehensive coverage of the history and role of the state in the MENA region. It offers a key resource for all researchers and students interested in international relations and the Middle East and North Africa.