In the wake of the global crisis the International Monetary Fund (IMF) increased its exposure to low- and middle-income countries and boosted the overhaul of its lending approach to enhance its role in preventing crises. This paper tests whether IMF lending has targeted countries most affected...

This paper offers a methodological contribution to the empirical analysis of the relationships between banking and economic growth by suggesting a new indicator for the state of development of the banking system based on a measure of bank microeconomic efficiency. This choice helps to overcome...

Economic and commercial relations between the countries of the southern Mediterranean and the European Union (EU) have been profoundly affected by the recent ‘EU Initiative for the Mediterranean’ and conditioned by the creation of European Monetary Union (EMU). The paper discusses the costs,...