This paper presents a thorough empirical analysis of fiscal developments in Lebanon over the past three decades. After an evaluation of major fiscal and monetary developments, the paper uses the Present Value Constraint framework to analyze whether debt and deficits are sustainable. Unit root...

Using panel data regression models this study examines empirically the impact of regional and international financial integration on macroeconomic volatility in the developing economies of the MENA region over the period 1980–2002. Our empirical results indicate that financial openness is...

This volume contains three main themes. The first theme relates to financial developments in the MENA region, emphasizing the role of stock markets and portfolio flows, foreign direct investments and private and public savings in the growth and development experience of the region. We see echoed...