Download or read book Dollarization in Lebanon written by Mr.Johannes Mueller and published by International Monetary Fund. This book was released on 1994-10-01 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.
Download or read book Currency Substitution and Dollarization in Lebanon written by Mohamad Ahmad Abou Hamia and published by . This book was released on 2007 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Currency Substitution in Lebanon written by Imad Amin Shihab and published by . This book was released on 1988 with total page 720 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, the Issue of 'dollarizatian'in the Lebanese economy' has increased to an extent where It has become a critical problem for the country, from the stand¬point of its economic as well as social effects on the economy. This thesis focuses primarily on the analysis of the causes underlying the growth of dollarization in the economy, its consequences, as yell as suggesting recommendations in order to cope with the emerging problem in recent years.
Download or read book Currency Substitution in Lebanon written by Jaber Bu-Diab and published by . This book was released on 1993 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economic Dislocation and Recovery in Lebanon written by Mr.Paul Cashin and published by International Monetary Fund. This book was released on 1995-12-01 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides background information on the Lebanese economy, based on an analysis of the economic consequences of war, and discusses several issues that will be central to Lebanon's prospects for recovery
Download or read book Trust Freedom and Wealth Creation written by Armen Papazian and published by . This book was released on 2014 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores currency substitution in Lebanon within the context of the recently growing debate on dollarization. Indeed, a number of distinguished scholars have lately made the case for full dollarization following its adoption in Ecuador (2000) and El Salvador (2001). This study, one of the very few focusing on Lebanon, looks at deposit, private liability, and public debt dollarization ratios and finds that Lebanon, when compared to Latin American countries, ranks 5th in deposit dollarization and 2nd in liability dollarization. The study also reveals that dollarization ratios have stayed persistently high despite declining inflation rates and high real returns on Lebanese Pound denominated assets. The paper suggests a political economy based interpretation of the persistently high rates of dollarization, and finds that the latter seem to be a market imposed monetary condition, a response to the unfree and co-opted nature of the state. Indeed, it is possible to argue that currency substitution gives domestic consumers the necessary protection from local wealth-destroying policies. While advocates of dollarization perceive the process as the least bad alternative to macroeconomic mismanagement, I suggest that it is in fact the worst alternative to learning the tools and techniques of domestic wealth creation. Money is the very symbol of societal trust, and is thus more elemental than exchange rate policy. In the case of Lebanon, theoretical and idiosyncratic reasons lead to the recommendation of a de-dollarization process. On a suggestive basis, I propose that the issuing of a new Lebanese Lira could be a viable way of providing incentives and inspiring trust.
Download or read book Exchange Rate Regime Considerations for Jordan and Lebanon written by Ms.Rina Bhattacharya and published by International Monetary Fund. This book was released on 2003-06-01 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper addresses the issue of the appropriate exchange rate regimes for Jordan and Lebanon in the context of the literature on optimum currency areas and the arguments concerning the use of the exchange rate as a nominal anchor for the economy. It presents some empirical results on the nature of output shocks in Jordan and Lebanon in the recent past, on the price sensitivity of exports from Jordan, and on currency and asset substitution in both countries. It does not directly address the issue of whether the current exchange rate in either country is overvalued or not, nor does it discuss the issue of an appropriate exit strategy from the current peg.
Download or read book Monetary Policy Under Conditions Of Currency Substitution The Lebanese Case 1975 1986 written by Fadi T. Osseiran and published by . This book was released on 1987 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Monetary Policy Under Conditions of Currency Substitution written by Fadi Osseiran and published by . This book was released on 1988 with total page 526 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Consequences of Implementing a Floating Exchange Rate in Lebanon written by Jad Sayed Boudib and published by . This book was released on 2012 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis tests two hypotheses. The first one is whether the implementation of a floating exchange rate regime in Lebanon promotes growth. The second one is the postwar elasticity of currency substitution between LBP and USD is insignificant. In order to test these hypotheses, we used respectively a VAR model and multiple linear regression model. Our results show a higher GDP and investment following the implementation of a floating rate. However, this regime increased the inflation rate. To that end, we implement a contractionary monetary policy and test its effect on the economy. This policy lowers instantly the inflation rate. Yet, a contractionary monetary policy is not efficient in case of high elasticity of currency substitution. for that purpose we calculate that elasticity for two periods (the war period and the postwar period). The war period shows a high degree of currency substitution unlike the postwar sample where the elasticity of currency substitution was not significant. Our findings are in accordance with previously conducted studies and macroeconomic theory.
Download or read book The Optimal Exchange Rate Regime for Lebanon written by Rima Khalil Nehme and published by . This book was released on 2007 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the increasing frequency and incidence of international financial crises, a nd in light of the volatile economic and political situation in Lebanon and the region, the choice of exchange rate regime has become critical. The study review s the historical economic background of the Lebanese economy from the civil war up to the present time, explaining the context of Lebanese dollarization. It als o explores different aspects of economic models and thoughts pertaining to excha nge rate regimes. The project tackles each of the pros and cons of fixed exchange rates. Lebanon i s a small economy open to international trade, with little public policy credibi lity. Hence, the loss of monetary policy independence will not affect macroecono mic stability. Lost competitiveness due to the fixed exchange rate does not seem to be a critical issue in Lebanon especially that devaluation in developing cou ntries often proved to be disastrous and lead to harsh economic and social retal iations. The paper also examines the possibility of a basket currency peg. While this reg ime might have proven to be a successful transition phase for some countries, it will not necessarily have the same outcome in a country like Lebanon which curr ently satisfies all the criteria for a hard peg. A simple correlation between economic activity in Lebanon and economic activity in the United States and the European Union respectively, indicates that the Leb anese economy is more strongly correlated with the US economy. The choice of the US dollar as the ultimate anchor currency is also corroborated by the stronger correlation between economic growth in Lebanon and the real LBP/dollar exchange rate.
Download or read book Payment Systems in Lebanon written by and published by . This book was released on 1999 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Lessons of Lebanon written by Samir Makdisi and published by Bloomsbury Publishing. This book was released on 2004-02-26 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since 1945, over 200 intrastate conflicts have taken place in countries that achieved independence from colonial rule after the second world war. The case of Lebanon offers a striking illustration of these interlocking influences on projects of national economic development. The persistently sectarian nature of the country's political institutions, the relatively poor quality of governance, and the major civil war that engulfed the country from 1975 to 1990, together define not only the context in which the achievements and failures of Lebanese development must be assessed, but also the continuing challenges that it must face in the era of globalization. This book offers an in-depth analysis of Lebanese economic development during the second half of the twentieth century with special emphasis on the civil war and its aftermath. Makdisi offers a definitive assessment of the principal phases of national development since Lebanese independence in the 1940s, and a study of those conditions requisite for sustainable development for Lebanon, as for many other developing countries.
Download or read book Rachet Effects in Currency Substitution written by Mr.Joannes Mongardini and published by International Monetary Fund. This book was released on 1999-07-01 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Currency substitution is now a common issue in the design of monetary policy in most transition economies. This paper analyzes the persistence of this phenomenon in the Kyrgyz Republic by including a ratchet variable in the model specification. The main conclusion of the paper is that, while some degree of persistence is present in the allocation of bank deposit, currency substitution in the economy at large has not yet reached a point where reversing it would be difficult. In this regard, there is still room for monetary policy to influence currency allocation in the private sector.
Download or read book Recovering Beirut written by Samir Khalaf and published by BRILL. This book was released on 2022-07-04 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recovering Beirut, the result of a workshop organised by the Center for International Studies at MIT on urban planning and socio-economic reconstruction in post-war Lebanon, brings together established professors, young scholars, architects, town planners and entrepreneurs to explore the problems of and prospects for urban planning and to consider visions and strategies for the reconstruction of Lebanon after sixteen years of civil war. This fascinating volume, which opens with an introduction by the eminent scholar Richard Sennett, engages in multi-layered discussion of the problems of spatial, socio-economic and cultural rehabilitation of a fractured social order in the throes of post-war reconstruction. It contains 82 illustrations underlining the impact of the study.
Download or read book Currency Substitution in Developing Countries written by Guillermo A. Calvo and published by . This book was released on 1992 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Making Sense of the Dollar written by Marc Chandler and published by John Wiley & Sons. This book was released on 2009-08-19 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Has the greenback really lost its preeminent place in the world? Not according to currency expert Marc Chandler, who explains why so many are—wrongly—pessimistic about both the dollar and the U.S. economy. Making Sense of the Dollar explores the many factors—trade deficits, the dollar’s role in the world, globalization, capitalism, and more—that affect the dollar and the U.S. economy and lead to the inescapable conclusion that both are much stronger than many people suppose. Marc Chandler has been covering the global capital markets for twenty years as a foreign exchange strategist for several Wall Street firms. He is one of the most widely respected and quoted currency experts today.
