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Title Money and finance in the Middle East : missed opportunities or future prospects? / edited by Simon Neaime, Nora Ann Colton.

Published Amsterdam ; Oxford : Elsevier JAI, 2005.


Location Call No. Status
 UniM Store  Q59059    AVAILABLE
Physical description xviii, 249 pages ; 24 cm.
Series Research in Middle East economics ; 6.
Research in Middle East economics ; 6.
Contents Part I Savings, Investments and Portfolio and FDI Flows -- Portfolio Diversification and Financial Integration of Mena Stock Markets / Simon Neaime 3 -- Foreign Direct Investment in Tunisia: Role of the Free Trade Agreement with European Union / Mohamed Abdelbasset Chemingui, Nora Ann Colton 21 -- Institutional Investors, Contractual Savings and Capital Market Development in Egypt, Jordan, Morocco, and Tunisia / Wafik Grais, Dimitri Vittas 43 -- Financial Liberalization, Savings, Investment, and Growth in Mena Countries / Lahcen Achy 67 -- Determinants of Private Savings in the Middle East and North Africa / Kivilcm Metin Ozcan, Yusuf Ziya Ozcan 95 -- Part II Commercial Banking -- Profitability and Risk Management in Banking: A Comparative Analysis of Egypt and Lebanon / Sam Hakim, Simon Neaime 117 -- An Analysis of Mergers and Acquisitions in the Turkish Banking Sector / Ayse Mumcu, E. Unal Zenginobuz 133 -- Part III Monetary, Financial and Exchange Rate Policies -- Hysteresis in Currency Substitution: The Middle East and North Africa / Wassim N. Shahin, Fadi G. Freiha 165 -- Choosing an Appropriate Palestinian Monetary Regime / Moyara Ruehsen 183 -- Dollarization and Its Long-Run Determinants in Turkey / Irfan Civcir 201 -- Fiscal Monetary and Exchange Rate Policies in a Small Open Economy / Simon Neaime 233.
Summary 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 throughout the first few chapters the notion that financial liberalization has many benefits as well as risks not only for the countries involved, but for international investors as well. For the countries of this region, we see the promise of enhanced growth and development through more developed financial markets that can facilitate the important relationship between investors and savers. For the international investor, we see a region that is posed to offer returns that are strongly correlated to risk. In the developing economies of the MENA region commercial banks have played a prominent role in economic growth since capital markets are still underdeveloped and still lack the appropriate mechanisms to channel effectively and efficiently funds from surplus units to deficit units. The next theme of the volume relates to the role commercial banks have played in channeling funds from savings to investments, and their role in the financing for development experience of some MENA economies. Finally, and on a broader level, the conduct of monetary policy in some MENA countries is highlighted with some emphasis on exchange rate policies and the use of some exchange rate regimes and their impact on the economies of the region.
Other author Neaime, Simon, 1965-
Colton, Nora Ann.
Subject Finance -- Middle East.
Finance -- Africa, North.
Finance -- Government policy -- Middle East.
Finance -- Government policy -- Africa, North.
Investments, Foreign -- Middle East.
Investments, Foreign -- Africa, North.
Monetary policy -- Middle East.
ISBN 0762312165 (hbk.) No price