Abstract: This paper contributes to the ongoing debate about the impact of globalization on the economic well-being of citizens in the developing world. It begins with a brief history of the process of world integration over the past century or so, highlighting the differences between the current and previous episodes of globalization. The study then […]
This edition of the Business Barometer reports the results of a stratified sample of 200 public and private firms. The survey covers their assessment of economic growth and the results of their operations in terms of their production, sales, inventories, prices, wages, employment and investment over the first six months of 2001. It also summarizes […]
Abstract: Recent years have witnessed substantial changes in the composition of capital flows to developing countries, with FDI and equity flows playing an increasing role. Using a new cross- country dataset on external assets and liabilities, this paper discusses the implications of these trends for the level and composition of countries’ external positions, with particular […]
Abstract: Recent studies have indicated that SMEs play an important role in economic growth, export promotion, and employment creation. Considering that the majority of Arab countries are currently trying to make progress in these areas, this paper aims to evaluate how SMEs fit into the regional economy and what steps need to be taken to […]
Abstract: Despite the growing attention given to the development of small and medium enterprises (SMEs) in MENA countries, their competitiveness is still limited. This paper discusses the relative importance of SMEs in five MENA countries; namely, Bahrain, Egypt, Jordan, Lebanon and the Syrian Arab Republic, and tries to identify the main problems that hinder their […]
Abstract: This paper argues that while globalization is hardly a new phenomenon, our conception of it has changed significantly over the years. While “globalization” once described an individual firm’s decision to expand abroad, it now has more to do with the willingness of all firms to do the same. This means that modern firms must […]
Abstract: This paper reviews the rationale for the coordination of fiscal and monetary policies and operations, and the pillars on which such coordination rests. It assesses the coordination of monetary and fiscal policies in Egypt during the 1990s in terms of objectives, instruments, and operational procedures, and looks for the best mode of coordination in […]
Abstract: This paper evaluates macroeconomic management in Brazil from 1992 to the present, with a particular focus on exchange rate policy. It points out that while Brazil’s Real Plan succeeded in halting the hyperinflation that had reached more than 2000 percent in 1993, it also caused a significant real appreciation of the exchange rate – […]
Abstract: The monetary/exchange rate policy nexus is in transition in many developing countries.Some of these countries, while recognizing the need for more realistic monetary policy management and related structural reforms, have maintained a fixed exchange rate system; some have adopted explicit inflation targeting frameworks as the nominal anchor for their macro – economic regimes; others […]
Abstract: This paper explains how the Egyptian monetary policy during the first half of the 1990s reduced macroeconomic imbalances and achieved economic stabilization. It also evaluates the recent pressures on the external position and the policy responses. On the basis of these findings, the paper identifies the challenges ahead, and takes a cursory look at […]