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An Analysis Of The Financial Resources And The Role Of The Central Bank In Lebanon
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Book Synopsis An analysis of the financial resources and the role of the Central Bank in Lebanon by : Mohamed Abdul-Hay Dabbagh
Download or read book An analysis of the financial resources and the role of the Central Bank in Lebanon written by Mohamed Abdul-Hay Dabbagh and published by . This book was released on 1974 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis An Economy and a State for Lebanon by : Charbel Nahas
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.
Book Synopsis A Central Bank for the Economic Development of Lebanon by : Antoine Edouard Asseily
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.
Book Synopsis A Central Bank for the Economic Development of Lebanon by : Antoine Edouard Asseily
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:
Book Synopsis The role of the banking sector in the economic process of Lebanon before and after the civil war by : Marco Rettig
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.
Book Synopsis The Bank of Lebanon by : Abdul-Amir Badrud-Din
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:
Book Synopsis Banking on the State by : Hicham Safieddine
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.
Book Synopsis Capital Markets and Portfolio Investment by :
Download or read book Capital Markets and Portfolio Investment written by and published by Indonesia National Development Information Office. This book was released on 1996 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Central Banking in Lebanon by : Antoine Edouard Asseily
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:
Book Synopsis Central Bank Finances by : David Archer
Download or read book Central Bank Finances written by David Archer and published by . This book was released on 2013 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Lebanon-Determinants of Commercial Bank Deposits in a Regional Financial Center by : Mr.Harald Finger
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.
Book Synopsis Exchange Rate Regimes by : Nada Majed Musallam
Download or read book Exchange Rate Regimes written by Nada Majed Musallam and published by . This book was released on 2007 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: This project takes a look at world exchange rate regimes and the impact of capit al flows on developing countries, with a special reference to Lebanon over the p eriod from 1990 till 2004, in an attempt to explore the main reasons behind the sustainability of the country's pegged regime. In this context, the project examines an economic review of Lebanon and a compar ative study of the country's economic performance before and after Paris II meet ing. It also discusses the Central Bank's objectives and monetary instruments, a s well as the country's monetary performance throughout a financial ratio analys is of the banking sector. A statistical analysis follows in an effort to point o ut the significant variables that link the banking sector's financial performanc e to the country's overall performance. This study suggests that the Lebanese government focus on stimulating growth and creating new job opportunities by stimulating investment in the non-bank financ ial sector. Moreover, capital market reforms are necessary to provide the govern ment with sources of funding other than the banking sector. In addition, the Central Bank should be able to affect interest rates by working closely in coordination with fiscal policy, in order to make use of the excess funds placed as foreign currency savings and stimulate the economy. It is also r ecommended that the Central Bank start considering shifting to a more flexible r egime in the future, in order to allow for economic shocks to be absorbed more s moothly. Yet, in order to achieve the above, external support might be required to break the cycle of unsustainable public debt.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :147557083X Total Pages :70 pages Book Rating :4.4/5 (755 download)
Book Synopsis Lebanon by : International Monetary Fund. Monetary and Capital Markets Department
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 2017-01-25 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.
Book Synopsis Do Central Banks Need Capital? by : Mr.Peter Stella
Download or read book Do Central Banks Need Capital? written by Mr.Peter Stella and published by International Monetary Fund. This book was released on 1997-07-01 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central banks may operate perfectly well without capital as conventionally defined. A large negative net worth, however, is likely to compromise central bank independence and interfere with its ability to attain policy objectives. If society values an independent central bank capable of effectively implementing monetary policy, recapitalization may become essential. Proper accounting practice in determining central bank profit or loss and rules governing the transfer of the central bank’s operating result to the treasury are also important. A variety of country-specific central bank practices are reviewed to support the argument.
Book Synopsis Lebanon by : International Monetary Fund
Download or read book Lebanon written by International Monetary Fund and published by International Monetary Fund. This book was released on 2004-09-30 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Report on the Interim IMF Staff Visit to Lebanon provides information on economic and policy developments since the Article IV discussions of February–March 2004. It updates the IMF staff’s projections, medium-term framework, and related Debt Sustainability Analysis. All available indicators point to a significant acceleration in growth, which is projected to reach 5 percent in 2004. Strong export and tourism receipts and a recovery in construction activity are the driving factors behind the strengthening recovery. A modest acceleration of inflation to about 3 percent is expected in 2004.
Author :International Monetary Fund. Middle East and Central Asia Dept. Publisher :International Monetary Fund ISBN 13 :1513517058 Total Pages :62 pages Book Rating :4.5/5 (135 download)
Book Synopsis Lebanon by : International Monetary Fund. Middle East and Central Asia Dept.
Download or read book Lebanon written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2019-10-17 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2019 Article IV Consultation with Lebanon highlights that Lebanon’s economic position continues to be very difficult, with very low growth, high public debt and large twin deficits. While financial stability has been maintained, deposit inflows, critical to finance the budget and external deficits, slowed down during the past year, reducing the authorities’ room for manoeuvre. The new government has taken some important policy steps to start the needed policy adjustment, which could help raise confidence among investors and donors. The highest priority is the implementation of a sustainable fiscal adjustment that will bend down the path of the public debt-to-gross domestic product ratio through a combination of revenue and expenditure measures. This needs to be complemented by structural reforms and concessionally financed investment to raise Lebanon’s growth potential and help external adjustment, as well as policies to build further buffers in Lebanon’s financial sector. Structural reforms should prioritize reforming the electricity sector, removing impediments to and lowering the cost of doing business, as well as improving governance and reducing corruption.
Book Synopsis Monetary and Exchange System Reforms in China by : Mr.Bernard Laurens
Download or read book Monetary and Exchange System Reforms in China written by Mr.Bernard Laurens and published by International Monetary Fund. This book was released on 1996-09-26 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1978, China embarked on a gradual but far-reaching reform of its economic system. This paper focuses on the achievements so far in reforming the financial sector, the legal framework for financial transactions, the payments system, and the monetary policy and foreign exchange system. It also analyzes the tasks ahead to achieve the goals set in these areas for the year 2000.
