Are Banks Really Lazy Evidence From Middle East And North Africa

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Are Banks Really Lazy? Evidence from Middle East and North Africa

Mr.Simon Gray,Mr.Philippe D Karam,Rima Turk Ariss
Are Banks Really Lazy Evidence from Middle East and North Africa Book PDF

Author : Mr.Simon Gray,Mr.Philippe D Karam,Rima Turk Ariss
Publisher : International Monetary Fund
Page : 40 pages
File Size : 48,5 Mb
Release : 2014-05-13
Category : Business & Economics
ISBN : 9781484386682

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Are Banks Really Lazy? Evidence from Middle East and North Africa by Mr.Simon Gray,Mr.Philippe D Karam,Rima Turk Ariss Pdf

We investigate whether low loan-to-deposit (LTD) ratios and high levels of reserve balances at the central bank (or holdings of government securities) are a reflection of policy-driven factors compared to commonly cited reasons of reluctance to lend or sometimes weak investment demand in uncertain environments. We examine changes to central bank (CB) balance sheet structures as well as commercial banks’ flow of funds over the period 2007–2012. First, Middle East and North Africa (MENA) CBs play an active role in view of their size that is very large with respect to their economies compared to CBs in advanced economies. Second, under exchange rate targeting, most MENA CB balance sheets are asset-driven, holding foreign exchange (FX) reserves to support the exchange rate policy and resulting in lower loan-to-deposit (LTD) ratios in the case of unsterilized increases in FX. Third, CB policy decisions seem to be accompanied by an increase in commercial bank reserve money balances, with ensuing reduction in the LTD. Finally, if governments meet their financing needs from the banking system—whether from commercial banks or by monetary financing—commercial bank balance sheets will tend to expand, resulting in lower LTD ratios. Our analysis suggests that government and CB actions may also drive the demand for and supply of credit, which are traditionally attributed to the behavior of banks and non-financial corporates and households only. The findings offer a different interpretation of changes in CB and banks’ balance sheets, with direct implications for LTD, calling to exercise caution in recommending policy action which aim at propping up LTD to ‘appropriate’ levels in an effort to reinvigorate credit following a downturn.

Are Banks Really Lazy? Evidence from Middle East and North Africa

Mr.Simon Gray,Mr.Philippe D Karam,Rima Turk Ariss
Are Banks Really Lazy Evidence from Middle East and North Africa Book PDF

Author : Mr.Simon Gray,Mr.Philippe D Karam,Rima Turk Ariss
Publisher : International Monetary Fund
Page : 40 pages
File Size : 52,8 Mb
Release : 2014-05-13
Category : Business & Economics
ISBN : 9781484386460

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Are Banks Really Lazy? Evidence from Middle East and North Africa by Mr.Simon Gray,Mr.Philippe D Karam,Rima Turk Ariss Pdf

We investigate whether low loan-to-deposit (LTD) ratios and high levels of reserve balances at the central bank (or holdings of government securities) are a reflection of policy-driven factors compared to commonly cited reasons of reluctance to lend or sometimes weak investment demand in uncertain environments. We examine changes to central bank (CB) balance sheet structures as well as commercial banks’ flow of funds over the period 2007–2012. First, Middle East and North Africa (MENA) CBs play an active role in view of their size that is very large with respect to their economies compared to CBs in advanced economies. Second, under exchange rate targeting, most MENA CB balance sheets are asset-driven, holding foreign exchange (FX) reserves to support the exchange rate policy and resulting in lower loan-to-deposit (LTD) ratios in the case of unsterilized increases in FX. Third, CB policy decisions seem to be accompanied by an increase in commercial bank reserve money balances, with ensuing reduction in the LTD. Finally, if governments meet their financing needs from the banking system—whether from commercial banks or by monetary financing—commercial bank balance sheets will tend to expand, resulting in lower LTD ratios. Our analysis suggests that government and CB actions may also drive the demand for and supply of credit, which are traditionally attributed to the behavior of banks and non-financial corporates and households only. The findings offer a different interpretation of changes in CB and banks’ balance sheets, with direct implications for LTD, calling to exercise caution in recommending policy action which aim at propping up LTD to ‘appropriate’ levels in an effort to reinvigorate credit following a downturn.

Money in the Middle East and North Africa

David Cobham,Ghassan Dibeh
Money in the Middle East and North Africa Book PDF

Author : David Cobham,Ghassan Dibeh
Publisher : Routledge
Page : 295 pages
File Size : 48,6 Mb
Release : 2010-12-07
Category : Business & Economics
ISBN : 9781136864162

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Money in the Middle East and North Africa by David Cobham,Ghassan Dibeh Pdf

Monetary policy in the Middle East and North African (MENA) countries remains an understudied area; this book fills an important gap by examining monetary policy frameworks and monetary policy strategies in the region. Building on the editors’ earlier book, Monetary Policy and Central Banking in the Middle East and North Africa, which focused on central bank independence issues and on exchange rate regimes, this book emphasises monetary policy strategies. Part I contains an overview of the financial markets and institutions which condition the choice of monetary policy strategy in the countries of the region, followed by single-country studies on aspects of the monetary policy frameworks of Lebanon, Egypt, Jordan, the Palestinian Territory and Turkey. Part II includes analyses of the prospects for inflation targeting in Egypt, Morocco and Tunisia, of the monetary transmission mechanism in the Gulf Cooperation Council countries, of the relative advantages of inflation targeting and exchange rate fixity with reference to Egypt, of the problem of fiscal dominance in Egypt, and of the inflationary implications of exchange rate fixity for Saudi Arabia and Kuwait. The contributors are experts from universities inside and outside the MENA region, from central banks in the region and from outside institutions such as the European Central Bank and the International Monetary Fund.

Monetary Issues in the Middle East and North Africa Region

Mr.Simon T Gray,Mr.Philippe D Karam
Monetary Issues in the Middle East and North Africa Region Book PDF

Author : Mr.Simon T Gray,Mr.Philippe D Karam
Publisher : International Monetary Fund
Page : 176 pages
File Size : 48,6 Mb
Release : 2013-05-15
Category : Business & Economics
ISBN : 9781475590562

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Monetary Issues in the Middle East and North Africa Region by Mr.Simon T Gray,Mr.Philippe D Karam Pdf

This paper documents the main themes covered in two seminars (December 2011 and September 2012) on monetary policy and implementation at the IMF—Middle East Center for Economics and Finance, and includes country case studies. Against the backdrop of the global financial crisis and swings in cross-border capital flows, operational frameworks have become more flexible, and liquidity management has impacted the relationship between the policy rate corridor and market rates. The balance sheet structure of central banks in the Middle East and North Africa (MENA) shows differences between oil exporters and others, while a few countries have exhibited notable changes since early 2011. Collateral now has a significant financial stability function. Although only one MENA country is part of the G20, implementation of the Basel III bank capital adequacy and liquidity rules will most likely impact banks’ way of doing business in MENA countries, even if indirectly.

Financial Development and Growth in the Middle East and North Africa

Ms.Susan Creane,Mr.Ahmed Mushfiq Mobarak,MissRanda Sab,Rishi Goyal
Financial Development and Growth in the Middle East and North Africa Book PDF

Author : Ms.Susan Creane,Mr.Ahmed Mushfiq Mobarak,MissRanda Sab,Rishi Goyal
Publisher : International Monetary Fund
Page : 28 pages
File Size : 40,9 Mb
Release : 2003-09-05
Category : Business & Economics
ISBN : 1589062310

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Financial Development and Growth in the Middle East and North Africa by Ms.Susan Creane,Mr.Ahmed Mushfiq Mobarak,MissRanda Sab,Rishi Goyal Pdf

In this study, the authors assess financial sector development in the MENA regionand propose several policy measures, which include reinforcing the institutional environment and promoting nonbank financial sector development, to enhance this sector’s performance.

IMF Research Bulletin, September 2014

International Monetary Fund. Research Dept.
IMF Research Bulletin September 2014 Book PDF

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 18 pages
File Size : 51,9 Mb
Release : 2014-10-11
Category : Business & Economics
ISBN : 9781498333160

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IMF Research Bulletin, September 2014 by International Monetary Fund. Research Dept. Pdf

This issue of the IMF Research Bulletin opens with a letter from the new editor, Rabah Arezki. The Research Summaries are a "Primer on 'Global Liquidity'" (Eugenio Cerutti, Stijn Claessens, and Lev Ratnovski); and "Trade Integration adn Business Cycle Synchronization" (Kevin Cheng, Romain Duval, and Dulani Senevirante). The Q&A column looks at "Seven Questions on the Global Housing Markets" (Hites Ahir, Heedon Kang, and Prakash Loungani). September 2014 issue of the Bulletin also includes updates on IMF Working Papers, Staff Discussion Notes, and Recommended Readings from the IMF Bookstore, as well as special announcements on new staff publications and the Fifteenth Annual Jacques Polak Research Conference. Also included is information on the latest issue of “IMF Economic Review” with a link to an article by Paul Krugman.

Promoting Inclusive Growth in the Middle East and North Africa

Mr. Roberto Cardarelli,Ms. Mercedes Vera-Martín,Mr. Subir Lall
Promoting Inclusive Growth in the Middle East and North Africa Book PDF

Author : Mr. Roberto Cardarelli,Ms. Mercedes Vera-Martín,Mr. Subir Lall
Publisher : International Monetary Fund
Page : 150 pages
File Size : 40,7 Mb
Release : 2022-10-11
Category : Business & Economics
ISBN : 9798400200038

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Promoting Inclusive Growth in the Middle East and North Africa by Mr. Roberto Cardarelli,Ms. Mercedes Vera-Martín,Mr. Subir Lall Pdf

Despite some pre-pandemic gains in poverty reduction, literacy, and lifespans, many economies in the Middle East and North Africa (MENA) have struggled to ensure that the benefits of economic development and diversification accrue equitably to all segments of their populations. Among the main issues that remain unresolved are the high share of inactive youth (who are not engaged in employment, education, or training); large gaps in economic opportunities for women; fragmented social protection systems; and underdeveloped private sectors with tight regulation, absence of a level playing field, and limited access to credit that stifle the creation of new firms and growth, employment, and incomes. The COVID-19 pandemic not only risks wiping out some of the progress made in the region over the past decades, but could also exacerbate inequality in a durable way. There is evidence that the impact of the pandemic has been uneven across groups, with the recession having a disproportionate effect on the low-skilled, the young, women, and migrant workers in employment and incomes. With widespread inequality, high unemployment, and the expected entry of 27 million young people into the labor force over the next 10 years, countries across the MENA region need to evolve their economic models to boost job creation and make sure that the benefits of economic development are shared more widely among all their citizens. This book’s objective is to reassess the inclusive growth agenda in the MENA region in light of the rapidly changing pandemic-influenced world. It argues that countries need to embrace global trade and technological advances and evolving demographics at home as an opportunity to successfully implement policies that foster higher and more inclusive growth. It underscores that a return to the old social contract is neither desirable nor feasible. The book presents a comprehensive view of policies suited to the regional context that would boost job-rich and inclusive growth within a resilient macroeconomic policy framework. Its goal is to provide guidance to policymakers in the region to frame how best to promote inclusive growth, including in their engagement with all stakeholders.

Informality and Inclusive Growth in the Middle East and North Africa

Gladys Lopez-Acevedo,Marco Ranzani,Nistha Sinha,Adam Elsheikhi
Informality and Inclusive Growth in the Middle East and North Africa Book PDF

Author : Gladys Lopez-Acevedo,Marco Ranzani,Nistha Sinha,Adam Elsheikhi
Publisher : World Bank Publications
Page : 281 pages
File Size : 50,6 Mb
Release : 2023-06-30
Category : Business & Economics
ISBN : 9781464819896

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Informality and Inclusive Growth in the Middle East and North Africa by Gladys Lopez-Acevedo,Marco Ranzani,Nistha Sinha,Adam Elsheikhi Pdf

The long-standing informality debate in the Middle East and North Africa (MENA) Region has taken on a new urgency as it looks for a pathway to more socially inclusive growth that is less reliant on fossil fuels. This is occurring against a backdrop of subpar labor market outcomes, further growth setbacks, and deteriorating fiscal and current account deficits in the aftermath of the COVID-19 pandemic--and in the wake of high inflation and supply chain disruptions triggered by the Russian Federation-Ukraine war. 'Informality and Inclusive Growth in the Middle East and North Africa' aims to better understand the characteristics and incentive structure that have led to the prevalence of informal employment in three MENA countries--the Arab Republic of Egypt, Morocco, and Tunisia. The report breaks new ground by adopting a comprehensive perspective to focus on the features of, and interrelationships among, different aspects of these countries' institutional landscapes to make sense of the complex incentive structure that workers and firms face when deciding between formal and informal options. Specifically, the report groups these issues in three broad realms: (1) entrepreneur-worker relations, (2) taxes and transfers, and (3) market conditions. 'This report is an extremely welcome addition to the literature on MENA labor markets. By analyzing the incentive structure and institutional factors that have led to the prevalence of informal employment in Egypt, Morocco, and Tunisia, it points the way to policy actions that can be taken to reduce informality and increase social protection for workers. It is a must-read for anyone who cares about greater economic inclusion in MENA.' --Ragui Assaad, Professor, Hubert H. Humphrey School of Public Affairs, University of Minnesota 'A compelling account of the implications of informality in the workforce and how economies of MENA can design appropriate policy responses. This timely report comes amid multiple social reforms in MENA and is a must-read for policy practitioners and economists in the region.' --Karim El Aynaoui, Executive President, Policy Center for the New South 'This report is particularly timely given the negative impact the COVID-19 pandemic and subsequent crises have had on living standards and poverty rates around the world and especially in MENA countries. While the focus on boosting growth and achieving the Sustainable Development Goals has revolved around financing, the report sheds new light on the benefits that tackling informality through institutional, regulatory, and policy changes could present to achieving these goals.' --Mahmoud Mohieldin, Executive Director, International Monetary Fund

Water

Katie Meehan,Naho Mirumachi,Alex Loftus,Majed Akhter
Water Book PDF

Author : Katie Meehan,Naho Mirumachi,Alex Loftus,Majed Akhter
Publisher : John Wiley & Sons
Page : 310 pages
File Size : 42,5 Mb
Release : 2023-02-08
Category : Science
ISBN : 9781119315162

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Water by Katie Meehan,Naho Mirumachi,Alex Loftus,Majed Akhter Pdf

Discover the hydrosocial cycle and the impact of power, knowledge, and scarcity on water rights and use through this engaging and student-friendly textbook In Water: A Critical Introduction, a team of distinguished researchers delivers an expert examination of our most pressing water-related challenges, arguing that flows of water are shaped by social practices and geometries of power. Combining first-hand research and headline case studies, the authors reveal the hydrosocial relations often hidden in mainstream accounts of water, delving into current issues like water scarcity, floods, global water governance, legal conflicts, human rights, potable water provision, health, the water-food-energy nexus, and much more. Spanning five centuries, this comprehensive volume reflects on how imperial expansion has shaped hydrosocial relations in and between Europe, Asia, Africa, and the Americas, how water demand has changed over time, and how this change impacted lifestyle. As the first major text to synthesize critical water research in both local and global perspectives, this book is anchored by clear and compelling arguments — the "four planks" — and supported by the authors' original research and up-to-date synthesis of the latest critical research on major water problems. It also includes maps, illustrations, and additional learning materials to be used by educators. Readers will find: A lively and thorough introduction that explains why a critical approach is necessary to fully understand our current water challenges, with a focus on the "skeptical superhero" A global approach to key debates in water issues, including large dams, privatization, transboundary conflicts, agriculture and irrigation, water and sanitation provision, human rights, governance dilemmas, and the Sustainable Development Goals Comprehensive explorations of the roles played by expert knowledge, global capital, climate change, and justice struggles in the hydrosocial cycle Critical theoretical perspectives that integrate environmental social sciences, feminist critique, and a broadly defined political economy with the specificities of water resources Fulsome treatments of water governance, science, and management, including the origins and implications of neoliberal approaches to the privatization, commodification, and financialization of water An accessible text that "invites the reader" on a critical journey Water: A Critical Introduction is a key text for advanced high school, undergraduate, and graduate students who want a keener understanding of trends in environmental management, political ecology, and water governance, science, and engineering. Written with an interdisciplinary audience in mind, this book will benefit students taking courses in environmental studies, environmental law, geopolitics, international studies, human geography, hydrology, engineering, environmental economics, and related disciplines.

Inclusion and Resilience

Joana Silva,Victoria Levin,Matteo Morgandi
Inclusion and Resilience Book PDF

Author : Joana Silva,Victoria Levin,Matteo Morgandi
Publisher : World Bank Publications
Page : 310 pages
File Size : 51,8 Mb
Release : 2013
Category : Business & Economics
ISBN : 9780821397718

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Inclusion and Resilience by Joana Silva,Victoria Levin,Matteo Morgandi Pdf

Inclusion and Resilience has two broad objectives. The study seeks first to enhance knowledge about the current state of existing social safety nets (SSNs) in the Middle East and North Africa, assessing their effectiveness by bringing together new evidence, data, and country-specific analysis. Second, it proposes an open and informed debate on feasible policy options for making SSNs more effective and responsive to the population's needs. In order to do this, the authors illustrate how the main goals for SSNs-promoting social inclusion, better livelihood, and resilience to shocks-have already been achieved in some parts of the region, notwithstanding huge challenges. They also identify the groups that regional SSNs should make a priority: children and people living in rural and lagging areas. The study relies on newly collected data on citizens' preferences concerning redistribution and SSN design, discussing how political economy considerations could be taken into account in designing better SSNs, and proposing an agenda for reform, using global experiences and the new evidence presented in the book itself.

Expanding Opportunities for the Next Generation

Safaa El-Kogali,Caroline Krafft
Expanding Opportunities for the Next Generation Book PDF

Author : Safaa El-Kogali,Caroline Krafft
Publisher : World Bank Publications
Page : 343 pages
File Size : 48,6 Mb
Release : 2015-01-28
Category : Education
ISBN : 9781464803246

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Expanding Opportunities for the Next Generation by Safaa El-Kogali,Caroline Krafft Pdf

Early childhood is the most important stage of human development yet in Middle East and North Africa countries there is little research and inadequate investment in this crucial stage of life. This book covers risk, protective factors, policies and programs that can address inequality and shortfalls in the early years of life.

Banking in Africa: Delivering on Financial Inclusion, Supporting Financial Stability

European Investment Bank
Banking in Africa Delivering on Financial Inclusion Supporting Financial Stability Book PDF

Author : European Investment Bank
Publisher : European Investment Bank
Page : 297 pages
File Size : 40,9 Mb
Release : 2018-11-21
Category : Business & Economics
ISBN : 9789286138485

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Banking in Africa: Delivering on Financial Inclusion, Supporting Financial Stability by European Investment Bank Pdf

In its fourth edition, this report focuses on recent developments in Africa's banking sectors and the policy options for all stakeholders. The study of banking sectors across all African sub-regions includes the results of the EIB survey of banking groups operating in Africa. Three thematic chapters address challenges and opportunities for financing investment in Africa: Crowding out of private sector lending by public debt issuance The state of bank recovery and resolution laws in Africa Policy options on how to finance infrastructure development. The report finds that in many African banking markets, the last two years saw a pause in financial deepening. However, a rising share of banking groups report improving market conditions and plan a structural expansion of their operations in Africa and a continued push for new technologies.

Economic Impact of Selected Conflicts in the Middle East

MissRanda Sab
Economic Impact of Selected Conflicts in the Middle East Book PDF

Author : MissRanda Sab
Publisher : International Monetary Fund
Page : 32 pages
File Size : 45,6 Mb
Release : 2014-06-11
Category : Business & Economics
ISBN : 9781498310895

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Economic Impact of Selected Conflicts in the Middle East by MissRanda Sab Pdf

Using narrative-based country-case studies, war episodes in the Middle East were examined to assess their economic impact on conflict and neighboring economies. The paper found that conflicts led to a contraction in growth, higher inflation, large fiscal and current account deficits, loss of reserves, and a weakened financial system. Post-conflict recovery depended on the economic and institutional development of the country, economic structure, duration of the war, international engagement, and prevailing security conditions. The net economic impact on neighboring countries varied according to their initial economic conditions, number and income level of refugees they hosted, economic integration, and external assistance.

The GCC Banking Sector

Abdullah Al-Hassan,Nada Oulidi,Ms.May Y. Khamis
The GCC Banking Sector Book PDF

Author : Abdullah Al-Hassan,Nada Oulidi,Ms.May Y. Khamis
Publisher : International Monetary Fund
Page : 47 pages
File Size : 41,7 Mb
Release : 2010-04-01
Category : Business & Economics
ISBN : 9781451982619

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The GCC Banking Sector by Abdullah Al-Hassan,Nada Oulidi,Ms.May Y. Khamis Pdf

In this paper, we analyze the evolution of the Gulf Cooperation Council (GCC) banking sectors in the six member countries including ownership, concentration, cross-border linkages, balance sheet exposures and risks, recent trends in credit growth, and financial soundness. We identify risks to the banking sector's financial stability in the context of the current global crisis and their mitigating factors.

Expectations and Aspirations

Safaa El Tayeb El-Kogali,Caroline Krafft
Expectations and Aspirations Book PDF

Author : Safaa El Tayeb El-Kogali,Caroline Krafft
Publisher : World Bank Publications
Page : 459 pages
File Size : 40,6 Mb
Release : 2019-10-21
Category : Education
ISBN : 9781464812354

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Expectations and Aspirations by Safaa El Tayeb El-Kogali,Caroline Krafft Pdf

Education, which has been at the heart of the Middle East and North Africa (MENA) region’s history and civilizations for centuries, has a large untapped potential to contribute to human capital, well-being, and wealth. The region has invested heavily in education for decades, but it has not been able to reap the benefits of its investments. Despite a series of reforms, MENA has remained stuck in a low-learning, low-skills level. Expectations and Aspirations: A New Framework for Education in the Middle East and North Africa identifies four key sets of tensions that are holding back education in the region: credentials and skills, discipline and inquiry, control and autonomy, and tradition and modernity. These tensions are shaped by society and are reflected in classrooms. If they are not addressed, MENA will continue to operate at a level below its potential. This report outlines a new framework with a three-pronged approach that can help address these tensions and unleash the potential of education in MENA: • A concerted push for learning that starts early for all children regardless of background, with qualified and motivated educators, and that leverages technology, uses modern approaches, and monitors learning outcomes • A stronger pull for skills by all stakeholders in the labor market and society that involves coordinated multisystem reforms within and beyond the education system • A new pact for education at the national level with a unified vision, shared responsibilities, and accountabilities. Education is not just the responsibility of the education system—it is everyone’s business. The push, pull, and pact framework offers an opportunity for MENA to move forward to reclaim its heritage of a learned region and to meet the expectations and aspirations of its people. The current situation in MENA requires a renewed focus on education, not just as a national priority for economic growth and social development, but as a national emergency for stability, peace, and prosperity.