The prospect of European integration presents huge opportunities and challenges for the development of non-bank financial institutions (NBFIs) in Ukraine. By most measures, the development of the NBFI sector in Ukraine lags far behind that of recent accession countries in Central Europe. To...

The purpose of this paper is to compare the European Union (EU) and United States (U.S.) securities regulations. In November 2007, the market in financial instruments directive 2004/39/EC (MiFID) came into force in the EU, and brought about deep changes in the market infrastructure. The same...

The purpose of this paper is to compare the European Union (EU) and United States (U.S.) securities regulations. In November 2007, the market in financial instruments directive 2004/39/EC (MiFID) came into force in the EU, and brought about deep changes in the market infrastructure. The same...

The report is organized as follows. Chapter one sets out the strategic context for Iraq, including the evolving political situation, macroeconomic context, and poverty and social conditions. Chapter two analyzes the trends in, and composition of, public expenditure, both from economic and...

Countries everywhere are divided into two distinct spatial realms: one urban, one rural. Classic models of development predict faster growth in the urban sector, causing rapid migration from rural areas to cities, lifting average incomes in both places. The process continues until the marginal...

This issue of the MENA quarterly brief assesses the macroeconomic performance of seven of the MENA countries: Egypt, Tunisia, Iran, Lebanon, Jordan, Yemen and Libya. All of these countries experienced rapid economic growth during 2000-10, and suffered a sharp economic slowdown in the aftermath...