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Regional Papers on Middle East



Measuring the Impact of Agricultural Finance on Rural Inequality: Evidence from Egypt Measuring the Impact of Agricultural Finance on Rural Inequality: Evidence from Egypt
Heba Farida Ahmed Fathy El-laithy, Ahmed Rostom & Lamia Donia , World Economics, March 2017
Evidence suggests that financial development and improved access to credit not only accelerates economic growth, but also reduces household poverty and income inequality. Using Egyptian household survey data evidence it is found that a 1% increase in agricultural wages ... More


Counting the Costs of Political Violence in Bahrain Counting the Costs of Political Violence in Bahrain
Mitchell Belfer, World Economics, December 2014
The relationship between economic and political stability remains under-researched. This paper looks at the sources and types of data necessary to measure the true economic cost of political instability and violence from the disturbances across the Arab world which occu ... More


Further Fallout from the Global Financial Crisis Further Fallout from the Global Financial Crisis: Credit crunch in the 'periphery'
Adolfo Barajas, Ralph Chami, Raphael Espinoza & Heiko Hesse, World Economics, June 2011
We examine the recent credit slowdown in emerging markets from three analytical angles. First, we find that, similar to past history, a credit boom preceded the current slowdown in many emerging markets, and argue that, going forward, a protracted period of sluggish gro ... More


The Institutional Framework of the Gulf Central Bank The Institutional Framework of the Gulf Central Bank
Nasser H. Saidi & Fabio Scacciavillani, World Economics, March 2009
This paper discusses the viable alternatives for a suitable institutional and governance framework for the policymaking body presiding over the GMU. The authors review a series of alternatives, from the simplest one (i.e. a governors’ council formed by the governors of ... More


The Oil-producing Gulf States, the IMF and the International Financial Crisis The Oil-producing Gulf States, the IMF and the International Financial Crisis
Bessma Momani, World Economics, March 2009
As the finance-strapped International Monetary Fund (IMF) was placed at the centre of coordinating funding and offering ideas to navigate out of the international financial crisis, it became clear that the international community needed to reinvigorate the emerging mark ... More


Are Economic Sanctions Useful in Discouraging the Proliferation of Weapons of Mass Destruction? Are Economic Sanctions Useful in Discouraging the Proliferation of Weapons of Mass Destruction?
Robert Carbaugh, World Economics, December 2008
against countries that have been implicated in the development of weapons of mass destruction and the use of terrorism. These sanctions have included limitations on customary trade and/or financial relations with a target country. Are sanctions effective in discourag ... More


Trends and Challenges in Islamic Finance Trends and Challenges in Islamic Finance
Heiko Hesse, Andreas (Andy) Jobst & Juan Solé, World Economics, June 2008
The paper first discusses the current trends in Islamic finance, which has become mainstream with currently more than US$800 billion of assets worldwide and a buoyant market for sukuk bonds. However, this exorbitant growth raises many challenges, particularly in the are ... More


Islamic Economics and Finance Islamic Economics and Finance
Rodney Wilson, World Economics, March 2008
This article provides an introduction to key concepts and methods involved in an Islamic approach to business, investment, risk taking and insurance. The prohibition of riba (interest or usury) profoundly influences the way business transactions and investments a ... More


The EU, the Middle East, and Regional Integration The EU, the Middle East, and Regional Integration
Bessma Momani, World Economics, March 2007
The European Union’s venture into enhancing trade linkages with the Middle East, as conceived by the 1995 Barcelona Process, had high hopes but failed in producing the intended political and economic deliverables. The Euro–Mediterranean Partnerships were flawed, as they ... More


Can Iraq Overcome the Oil Curse? Can Iraq Overcome the Oil Curse?
Robert E. Looney, World Economics, March 2006
A growing literature suggests that the oil sector and the allocation of its revenues is the critical variable in shaping both the economic structure and political systems of countries like Iraq. For the most part this literature focuses on the so-called “oil curs ... More