Download or read book The role of the banking sector in the economic process of Lebanon before and after the civil war written by Marco Rettig and published by GRIN Verlag. This book was released on 2007-10-27 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examination Thesis from the year 2004 in the subject Business economics - Economic and Social History, grade: 70% / Distinction, School of Oriental and African Studies, University of London (School of Oriental and African Studies (SOAS)/ Economics Department), course: Abschlussarbeit zur Erlangung eines MSc Development Economics, language: English, abstract: This dissertation assesses the role of the banking sector in the Lebanese economy throughout the country’s history with respect to its linkages with the real sector. I thereby focus on the credit market. It is shown that various external and internal factors have led to a credit market development on the supply-side that is not conducive to real sector growth. In particular, the period before the Lebanese civil war is characterised by funds flowing in from other Arab countries, which were not channelled into domestic long term investment but accrued to the trade and services sector or went abroad. Throughout the war and afterwards the share of the private sector in total credit declined substantially as the government crowded out private demand. It is concluded that only a shift of policy with a clear focus on the real sector’s needs can bring about the required economic development.
Download or read book Banking on the State written by Hicham Safieddine and published by Stanford University Press. This book was released on 2019-07-02 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1943, Lebanon gained its formal political independence from France; only after two more decades did the country finally establish a national central bank. Inaugurated on April 1, 1964, the Banque du Liban (BDL) was billed by Lebanese authorities as the nation's primary symbol of economic sovereignty and as the last step towards full independence. In the local press, it was described as a means of projecting state power and enhancing national pride. Yet the history of its founding—stretching from its Ottoman origins in mid-nineteenth century up until the mid-twentieth—tells a different, more complex story. Banking on the State reveals how the financial foundations of Lebanon were shaped by the history of the standardization of economic practices and financial regimes within the decolonizing world. The system of central banking that emerged was the product of a complex interaction of war, economic policies, international financial regimes, post-colonial state-building, global currents of technocratic knowledge, and private business interests. It served rather than challenged the interests of an oligarchy of local bankers. As Hicham Safieddine shows, the set of arrangements that governed the central bank thus was dictated by dynamics of political power and financial profit more than market forces, national interest or economic sovereignty.
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 An Economy and a State for Lebanon written by Charbel Nahas and published by Riad el-Rayyes Books. This book was released on 2020-08-01 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: Lebanon is going through the worst crisis in its history. Even as the crisis was brewing, the usual proposals, out of touch with economic and social reality, kept popping up: move from the rentier economy to the productive economy, specialize in high value-added activities, rely on the high level of education of the Lebanese, wait for revenues from the offshore oil to be discovered, and so on. So many incantation statements of cultivated illusions. The critical and necessary question that needs to be asked, but that has not been asked by all those who pretend to be statesmen: what economy for Lebanon, and what State can lead to such an economy? This is not a technical nor a technocratic question, but an eminently political one. Lebanon has had four models in the recent history, culminating with the economy of regulated looting and redistribution (1985 until yesterday), which has just collapsed. Actually, the collapse of the public finances and the banking system are consequences of the collapse of the political-economic system, in place since the mid-1980s and institutionalized in the early 1990s. So what economy does Lebanon need to be strong, and what political system is necessary for such an economy? The book, An Economy and a State for Lebanon, presents various scenarios, various avenues for a small economy, such as Lebanon’s, to function in a productive manner. What is needed is political leadership with a wise and courageous vision, and with the freedom from sectarian handicaps to enact the necessary policies. An economy is comprised of people (labour) first and resources, including capital, second. For both, holistic public action is required. The financial crisis, uncovered in 2019, did not happen accidentally. It is necessary to know its causes, at the very least, to avoid falling back into bankruptcy, and, also, to build a pathway forward. A careful examination and analysis of the public finances, away from accounting recipes, reveals how the role of public finances actually adapted to the needs of maintaining the political system itself. They are not separate from each other. By its very nature, the Lebanese political economic system consumes resources: capital and this consumption is traceable though the accumulation of capital liabilities, and human beings traceable though the ever increasing stock of Lebanese emigrants. To refrain from consuming Lebanon’s resources and people, a new political economic system is needed. What is critical, during this transition, is a political leadership with the wisdom to transform Lebanon’s economy and society and with the courage to be flexible in building a sustainable political and economic system. Flexibility is needed because of the changing domestic conditions (such as the population’s socio-political structure) and because of the changing regional conditions (such as the security and economic situation in Syria). The book formulates the strategic preference in a rational and tangible way by reviewing numerous critical aspects, including a discussion on which currency would be suitable for which project and the impacts of financial losses and of emigration. Perhaps the most powerful aspect of the book is its critical discussion on alternatives, including courses of action and institutional actions, including the role of banks, Lebanon’s currency, and taxation. Furthermore, grounded policies are suggested for key sectors in the country in non-tradable basic services (health, education, housing, electricity, etc…). Clear pathways are presented, offering possibilities as to how the Lebanese can finally build a strong, productive economy. A strong economy can only be built when the citizens and residents of Lebanon are respected and not treated for export as commodities, and thus a cohesive, strong society is needed. Only a strong, courageous and free political leadership can initiate this pathway, and it can only happen in the context of a civil state.
Download or read book Central Banking in Lebanon written by Antoine Edouard Asseily and published by . This book was released on 1967 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Lebanese Banking and the Economy written by and published by . This book was released on 1995 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Lebanon Determinants of Commercial Bank Deposits in a Regional Financial Center written by Mr.Harald Finger and published by International Monetary Fund. This book was released on 2009-09-01 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper empirically examines the demand for commercial bank deposits in Lebanon, a regional financial center. With Lebanon's high fiscal deficits financed largely by domestic commercial banks that rely on deposit funding, deposit growth is a key variable to assess government financing conditions. At the macro level, we find that domestic factors such as economic activity, prices, and the interest differential between the Lebanese pound and the U.S. dollar are significant in explaining deposit demand, as are external factors such as advanced economy economic and financial conditions and variables proxying the availability of funds from the Gulf. Impulse response functions and variance decomposition analyses underscore the relative importance of the external variables. At the micro level, we find that in addition, bank-specific variables, such as the perceived riskiness of individual banks, their liquidity buffers, loan exposure, and interest margins, bear a significant influence on the demand for deposits.
Download or read book Lebanon written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2017-01-24 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses findings of the assessment of Lebanon’s financial system. Lebanon has maintained financial stability for the last quarter century during repeated shocks and challenges. Over time, macroeconomic and financial vulnerabilities have accumulated. Although central bank policies have helped to maintain confidence, fiscal adjustment is needed to reduce risks to financial stability. The banking system has thus far proven resilient to domestic shocks and regional turmoil, but the materialization of severe shocks could expose vulnerabilities. Significant progress has been made to further strengthen Lebanon’s financial integrity framework, with some scope for improvement remaining.
Download or read book A Central Bank for the Economic Development of Lebanon written by Antoine Edouard Asseily and published by . This book was released on 1966 with total page 608 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Economic Profitability Impact of Mergers Acquisitions among Banks in Lebanon written by Rami Saleh and published by GRIN Verlag. This book was released on 2013-05-08 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: Doctoral Thesis / Dissertation from the year 2009 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: A, , language: English, abstract: A study of the impact of mergers and acquisitions on the economic profitability among Banks in Lebanon
Download or read book A Political Economy of Lebanon 1948 2002 written by Toufic Gaspard and published by BRILL. This book was released on 2003-12-01 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is about the laissez-faire strategy for economic development, a strategy inspired by neoclassical/mainstream economics, advocated by the “Washington Consensus”, and implemented by the Bretton Woods institutions. Mainstream economics has taken legitimacy from the historical failure of command economies. But this view has not been balanced by an examination of the performance of laissez-faire economies, the closest to the pure market model. Lebanon provides a unique test case in this regard. The book assesses Lebanon’s development during 1948-2002, including its industrial and financial performance. The dynamics of the laissez-faire system is separately studied from a Post-Keynesian perspective, highlighting institutional behavior. It is found that laissez-faire is not a sufficient condition for economic development, and can even be counterproductive.
Download or read book A Central Bank for the Economic Development of Lebanon written by Antoine Edouard Asseily and published by . This book was released on 1966 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study is an analysis and appraisal of the newly established central bank in Lebanon. The Charter granting the privately owned Banque de Syrie et du Liban the privilege of note issue in Lebanon expired on 31st March 1964 and was not renewed, A state owned institution, the Bank of Lebanon, was created to take over the functions of the Issuing Department of the Banque de Syrie et du Liban and was given central banking powers. This was the most important development in Lebanese banking history since the Banking Secrecy Law of 1956. When a central bank is newly established in a developing country, there is always the danger that it will be dominated by traditional notions of central banking, and insufficient regard paid to the particular characteristics of the economy in which it is to operate. The result may well be the establishment of an ineffective central bank. The problem considered here is whether in Lebanon there was a need for a change from the old system, that is whether or not the Banque de Syrie et du Liban was adequate for the requirements of the country, and if not what sort of a change was required. The development and working of the Lebanese banking system is analysed with special reference to the role that might be required of a central bank. Particular emphasis is placed on the significance of the foreign banks and the very active money market which traditionally provided an effective lender of last resort. The problems of economic development in the Lebanon are outlined and in the light of these problems, of the nature of the economy and of the Government's economic plans, the important functions that could well be served by a central bank are discussed. It is concluded that the Beque de Syrie et du Liban, essentially an Issuing Bank, was not adequate for the requirements of the economic development of the country, and that a central bank was needed. But the Bank of Lebanon, as actually constituted will only marginally help in the economic development of the country.
Download or read book The Bank of Lebanon written by Abdul-Amir Badrud-Din and published by Pinter Publishers. This book was released on 1984 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Exploring Lebanon s Growth Prospects written by Charbel Nahas and published by World Bank Publications. This book was released on 2007 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: This paper attempts to identify Lebanon's greatest constraints to economic growth, following a growth diagnosis approach. It concludes that fiscal imbalances and barriers to entry are most binding on long-term growth. Macroeconomic imbalances and related perceived risks affect the nature of investment decisions in Lebanon, in favor of liquid instruments rather than longer-term productive investments. Further, many barriers to entry discourage agents from investing in a number of markets: legal impediments to competition, corruption, and a set of fiscal incentives favoring the allocation of resources to non-tradable sectors, where potential demand and investment opportunities are scarcer. In turn, using a steady-state computable general equilibrium model, the paper assesses the long-term growth impact of a selected set of policy reforms envisaged to lift such constraints. Results suggest that 1 to 2 percentage points of additional GDP growth per year could be gained through public expenditure reform, greater domestic competition, and tax harmonization.
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 Role of Monetary Policy and Banking Sector in Promoting Economic Growth with Reference to Lebanon written by Razi Talal Khaddage and published by . This book was released on 2008 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary policy has a decisive role in promoting growth in an economy. It is use d to influence the availability and cost of money and credit, and as a mean to p romote not only economic growth, but price stability as well. Tools of monetary policy include open market operations, the discount rate and reserve requirement s. On the other hand, commercial banks can also play a crucial role in growth and d evelopment of the economy. In Lebanon banks constitute a large part of the finan cial system. Banks finance the private sector through loans, and government by i nvesting in Lebanese Treasury Bills. The main idea of the project is to show the importance of monetary policy and ba nking sector in economic development in general, and with reference to Lebanon. Chapter I is an introductory note. Chapter II outlines the conduct of monetary p olicy and its instruments, tools and targets. Chapter III highlights the role of the banking system, by identifying its major trends and directions. Chapter IV discusses the implications of both, banking system and monetary policy, on econo mic growth. Finally Chapter V concludes with policy implications.
Download or read book Lebanon written by Esther Bassil Sleilati and published by Nova Science Publisheras Incorporated. This book was released on 2017 with total page 365 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book sheds light on diverse aspects of a country thus far renowned for its various forms of instability and turmoil by portraying it from very different angles. It begins by underscoring how the instructors' emotional intelligence is paramount for maintaining student satisfaction and retention in a market as competitive as that of Lebanon. It then recognizes the impact of social pressure on e-Book adoption in Lebanon and investigates the challenges and opportunities of attaining such goals through the instigation of e-government technology in a developing country. It then delves into female entrepreneurial motivations by inspecting the influence of age, which is a neglected facet of entrepreneurship research. Its main motivation is the salience of underrepresentation of women in entrepreneurial ranks even in the most developed markets, although the number of female entrepreneurs in Lebanon is surprising. After that, it points to two approaches for examining leadership, the first focusing on the leader as an individual while contemplating the qualities and capabilities of leaders, whereas the other contests that an individual leader initiates a general understanding of leadership by assuming that leadership is the technique used by this individual and not his/her position. Always retaining the HR spirit, this book studies the connection between investment in talent retention practices in Lebanese organizations and the line managers' accountability of affective commitment. The interest mainly lies in the fact that Lebanon symbolizes an interesting economic and cultural context from which talent has been depleted, resulting in a greater need to instigate talent retention practices to preserve and retain this talent. It then moves to exploring the impact of coaching on employee commitment and learning, and afterwards evaluates its influence on performance in the Lebanese banking sector. One way of improving performance among firms is to actively utilize their tacit knowledge capital. So, it critically examines tacit knowledge and effectuation to reveal if the interaction can lead to favorable outcomes in a firm's innovative capability. Another way to gain a competitive advantage is for organizations to care for their customers by educating them to secure adequate decision making, thus leading to the study of the impact of consumer education on financial consumer protection, as well as looking into the controversial relationship between corporate reputation and customer satisfaction, and the mediating role of perceived service quality. It then identifies the effect of a business model design on customer satisfaction, which singles out corporate performance in the high-tech channel innovation framework, and proves the effect of information systems by helping healthcare employees while performing their daily tasks, especially after the increase of their work load with the influx of Syrian refugees to Lebanon. It then concludes by investigating the trends and indicators related to national output, inflation, unemployment, national debt, exchange rates, balance of payments, poverty and human development. In sum, this book proves that Lebanon is moving away from the stereotypical image it once had and towards a country much like the one that Lebanese people have been dreaming of restoring.
