The size of government is a commonly used variable in many analytical studies on the effects of fiscal policy. An accepted practice is to measure it as the ratio of government spending to GDP. However, this is not the correct metric when computing the stabilization effects of nondiscretionary...

Globalization the intensification of international trade and finance linkages underpinned by economic liberalization and technological change presents both challenges and opportunities to Arab countries. After reviewing this region`s disappointing performance in integration and growth, this...