This 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....

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...

In the framework of a sequential equilibrium planning model, an explanation of labour demand allowing for discrepancies between implicit and actual wages is put forward. An extension of the input-output price system to take account of decreasing returns to scale is considered by introducing...

Economists have come to acknowledge that finance matters for development more, and in more ways than had been recognized for a long time. Changes in the financial services industry are providing immense possibilities for economic development. Grais and Kantur present a framework to help...

More than 200 Islamic financial institutions (IFIs) operate in 48 countries. Their combined assets exceed $200 billion, with an annual growth rate between 12 percent and 15 percent. The regulatory regime governing IFIs varies significantly across countries. A number of international...