Resources

The study aims to generally diagnose the problem of internal public debt in the Arab countries, then, separately refer to the case of each country to clarify the development of internal debt volume, its reasons and economic impacts because of the different situations...Read More

This paper seeks to analyze, identify and compare the monetary transmission mechanisms through which the monetary policy shocks propagate in Morocco and Tunisia. The channels that have been considered in this study are the following: the exchange rate channel, the...Read More

This paper explores the impact of high public debt on long-run economic growth. The analysis, based on a panel of advanced and emerging economies over almost four decades, takes into account a broad range of determinants of growth as well as various estimation issues...Read More

The inflation targeting constitutes an attractive monetary policy strategy that makes low the inflation rate and improve central banks’ credibility what motivates its adoption previously by the industrial countries and recently by emerging ones. This paper consider to...Read More

The first section of this paper takes an historical overview of the issue of taxation over the last two decades and more.  The second section addresses the case for taxation, taking into consideration points raised in the historical overview and those listed above,...Read More

Just before the global crisis soaring commodity prices pushed up inflation significantly, not least in EU neighbour countries at the Mediterranean. These price shocks affected public finances in the southern Mediterranean region, notably via government subsidies....Read More

This book emphasizes 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...Read More

The approach to fiscal space taken in this paper is focused on asking the question: what are the barriers to the creation and utilization of such fiscal space that will be necessary to undertake the above transformation? In posing this question, we seek to clearly...Read More

The GCC countries maintain a policy of open capital accounts and a pegged (or nearly- pegged) exchange rate, thereby reducing their freedom to run an independent monetary policy. This paper shows, however, that the pass-through of policy rates to retail rates is on the...Read More

Public investment and subsidies are typically inefficient but in the GCC these are crucial engines of growth. Subsidies are also used to redistribute oil windfalls in the region, and the problem of a government that wants to „distribute‟ oil money is a problem fully...Read More