This volume contains three main themes. The first theme relates to financial developments in the MENA region, emphasizing the role of stock markets and portfolio flows, foreign direct investments and private and public savings in the growth and development experience of the region. We see echoed...

Since the early 1990s some industrialized economies have implemented a monetary policy regime shift known as inflation targeting. This shift was justified by the difficulties posed by targeting the nominal exchange rate, or in some instances money supply. Given the very encouraging experience of...

This study examines some of the factors that may constitute the main determinants of the dollar-euro exchange rate. The implications of the introduction of the single currency in Europe on Mediterranean central banks reserves and foreign external liabilities are examined, along with trade and...