Economists have come to acknowledge that finance matters for development in more ways than had been previously recognized. Changes in the financial services industry are providing immense possibilities for economic development. This paper introduces a framework to help understand the changes...

The MENA region has recently witnessed significant economic and financial development. Yet its trade and capital flows remain marginal on a global level, and risk perceptions and institutional underdevelopment are still a powerful obstacle to an increased access to capital markets, a better...

The paper draws some lessons for the Egyptian economy from recent crisis episodes in Latin America and East Asia. Egypt is striving to achieve higher sustainable growth rates to increase the welfare of its population. Opening up the capital account presents both opportunities and dangers. Recent...