There is a worldwide growing effort to reforming and privatizing banking systems. The main motivation behind such trend has been that public ownership of banks tends to be associated with financial repression, poorly developed banking system, higher interest rate spreads, slower financial...

This paper assesses the financial leasing industry and its role in enhancing financial intermediation in various MENA countries. The approach followed involves critical and comparative analyses of financial indicators, as well as review of legal, regulatory, and institutional frameworks in the...

Sound Estimates of equilibrium exchange rate have become a cornerstone for any country that adopts an outward oriented macroeconomic management policy. This paper attempts to construct an index for Egypt's Equilibrium Real Exchange Rate (ERER) for the period 1970-2001 so that misalignment...

This paper attempts to shed some light on the problems and prospects of trade liberalization in financial services for selected Arab countries. The paper starts by considering the background of GATT and the case for trade liberalization. It then highlights the case of the Uruguay Round with...

This paper discusses the reasons for state intervention in the financial sector in Egypt and analyzes major tools of intervention such as setting ceilings on interest rates, imposing high reserve requirements, developing directed credit schemes and intervention in the portfolio composition of...

Recent economic and political developments have highlighted a challenge shared across the Arab region of generating employment, promoting inclusive growth, and improving competitiveness. In the short run, weakened macroeconomic fundamentals in the developing economies of the Middle East and...

The Arab Spring in the Middle East and North Africa (MENA) region has brought to the forefront key challenges: the need to create job opportunities, equal access, a level playing field, transparency and accountability, and a fair and competitive environment. Crony capitalism, the privileged...