Shadow prices are being used increasinglyin the economic analysisof projects. The purpose of this paper, however, is to argue that shadow prices are equally relevant for certain types of analysis at the macro-economic level. In theory, macroeconomic issues can be properly analyzed; if at all, only...

This paper examines recent financial flows to and from the Middle East with two objectives in mind: first, to assess the levels and types of recent flows in order to understand their past contribution to investment and growth, and thereby to gain a better sense of what might be feasible in the...