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 2007-11 with total page 88 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, 60 entries in the bibliography, 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 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 Citizen Hariri written by Hannes Baumann and published by Oxford University Press. This book was released on 2017-06-01 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rafiq Hariri was Lebanon's Silvio Berlusconi: a 'self-made' billionaire who became prime minister and shaped postwar reconstruction. His assassination in February 2005 almost tipped the country into civil strife. Yet Hariri was neither a militia leader nor from a traditional political family. How did this outsider rise to wield such immense political and economic power? Citizen Hariri shows how the billionaire converted his wealth and close ties to the Saudi monarchy into political power. Hariri is used as a prism to examine how changes in global neoliberalism reshaped Lebanese politics. He initiated urban megaprojects and inflated the banking sector. And having grown rich as a contractor in the Gulf, he turned Lebanon into an outlet for Gulf capital. The concentration of wealth and the restructuring of the postwar Lebanese state were comparable to the effects of neoliberalism elsewhere. But at the same time, Hariri was a deeply Lebanese figure. He had to fend against militia leaders and a hostile Syrian regime. The billionaire outsider eventually came to behave like a traditional Lebanese political patron. Hannes Baumann assesses not only the personal legacy of the man dubbed 'Mr Lebanon' but charts the wider social and economic transformations his rise represented.

Download or read book Lebanon s Renaissance written by Tom Najem and published by Garnet & Ithaca Press. This book was released on 2000 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study presents a comprehensive analysis of political developments in the aftermath of the Lebanese civil war. The author argues that despite the complexity of Lebanese society and a host of unresolved issues that triggered the civil war, Lebanese political discourse and political activity during the period under discussion (1990-2000) was dominated by a single issue: economic reconstruction. The author establishes the main reasons behind this and proceeds to render a penetrating analysis of the Lebanese political setting as it impinges on the reconstruction process.

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 The Role of Monetary Policy and the Banking Sector in Economic Development with Reference to Lebanon written by Abdallah Adnan Jibai and published by . This book was released on 2004 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary policy has become the central tool of macroeconomic stabilization, and in more and more countries monetary policy is in the hands of an independent central bank which through its various instruments, targets, and goals along wit h the vital interaction of the commercial banking sector are playing a central role in the economic development and growth of the state. Fundamentally, the goals of monetary policy in developing countries do not differ greatly from those in developed ones, in spite of differences in both eco nomic and social structure. But there is likely to be a substantial difference in emphasis on these objectives, namely the promotion of economic growth in the developing countries and the avoidance of inflation in the developed ones. Central banks along with commercial banks in developing countries have the added responsibility of the development of the financial structure by assisting in the creation of institutions specifically designed to encourage the mobilization of savings and to provide development finance. Theref ore, the evaluation of the financial banking system in an economy must be viewed in terms of the extent of its contribution t o capital formation and economic growth.

Download or read book The labour movement in Lebanon written by Lea Bou Khater and published by Manchester University Press. This book was released on 2022-02-22 with total page 173 pages. Available in PDF, EPUB and Kindle. Book excerpt: The labour movement in Lebanon: Power on hold narrates the history of the Lebanese labour movement from the early twentieth century to today. Bou Khater demonstrates that trade unionism in the country has largely been a failure, for reasons including state interference, tactical co-optation, and the strategic use of sectarianism by an oligarchic elite, together with the structural weakness of a service-based laissez-faire economy. Drawing on a vast body of Arabic-language primary sources and difficult-to-access archives, the book’s conclusions are significant not only for trade unionism, but also for new forms of workers’ organisations and social movements in Lebanon and beyond. The Lebanese case study presented here holds significant implications for the wider Arab world and for comparative studies of labour. This authoritative history of the labour movement in Lebanon is vital reading for scholars of trade unionism, Lebanese politics, and political economy.

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 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 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 The Lessons of Lebanon written by Samir A. Makdisi and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Since 1945, over 200 intra-state conflicts have taken place in countries that achieved independence from colonial rule after World War II. The case of Lebanon offers a striking illustration of these interlocking influences on projects of national economics development. The persistently sectarian nature of the country's political instutions, 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 text offers an in-depth analysis of Lebanese economic development during the second half of the 20th 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."--Bloomsbury Publishing.

Download or read book The Role of the Banking System in the Postwar Economic Development of Lebanon Up to 1974 written by Sami Haddad and published by . This book was released on 1977 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Political Economy of Corruption written by Fatih Kırşanlı and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Lebanon is facing one of the most acute socioeconomic and political crises in history. While it was the financial center during the 1950s, 60s, and early 70s with its sophisticated banking sector, the civil war between 1975 and 1990 demolished this position. Beginning from 1990 until 2019, the Lebanese economy was slowly dragged into an economic collapse with depreciated Lebanese lira against foreign currencies, which was the preferred monetary policy. This chapter focuses on this collapse and the so-called Ponzi scheme, organized by the Lebanese central and commercial banks. It elucidates the leading cause of the issues (e.g., financial engineering, Beirut Explosion, political deadlock, economic turmoil), namely rampant corruption, from the perspective of political economy. It also discusses foreign interventions, the dominance of Hezbollah, and terror financing issues. Lastly, it sheds light on future research by providing policy recommendations for the Lebanese political economy.

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 258 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Impact of Financial Sector Development on Economic Growth in Lebanon written by Dima Adel Arakji and published by . This book was released on 2005 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this present research is to explore the relationship between fina ncial sector development and economic growth. Since financial development is a m ultifaceted concept, the question of whether the development of financial market s leads to economic growth or whether it is more of a consequence of a growing eco nomy is addressed. Moreover, this project examines this central relationship in the context of one economy, that of Lebanon. The project utilizes secondary theoretical and emp irical literature to draw general conclusions on the existing state of thought o n the emphasis of the role of financial development in generating sustained growth. The trend in the literatur e is that the development of financial markets and institutions and a financial system that does a good job of delivering essential services, is a critical part of the growth process and not just a passive response to economic development. Furthermore, Lebanon is specifically examined in terms of its financial structur e, level of financial sector development and economic performance. Primary resea rch is carried out empirically through regression analysis of the effect financi al development plays on the economic development of Lebanon. The results show that in the Lebanese context, financial sector develop ment does in fact have an impact on economic growth. The indicators of financial sector development used in the tests collectively impacted the observed changes in econ omic growth. However, not all of the financial development indicators used were significant, which does not completely conform to the results of the majority of cross- country studies carried out in the literature. Thus, the findings of this paper can be r egarded as being a preliminary step to further investigations. Lastly, the study proposes areas for further research and policy recommendations that the Lebanes e government and key financial sector players should consider in order for the full effects of financial development measures to take form.

Download or read book Some Effects of the Civil War of 1975 1976 on the Lebanese Banking System written by Michelle Mertens and published by . This book was released on 1984 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt:

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.