Monetary Policy and Central Banking in the Middle East and North Africa (Routledge Political Economy of the Middle East and North Africa)

Book Cover......Page 1
Title......Page 4
Copyright......Page 5
Contents......Page 6
Illustrations......Page 8
Notes on contributors......Page 11
Preface......Page 14
1 Introduction......Page 16
Part I Central banking and monetary policy......Page 22
2 The political economy of central banking in the MENA region with special reference to Lebanon......Page 24
3 The degree of legal central bank independence in MENA countries: International comparisons and macroeconomic implications......Page 42
4 Monetary policy operations of debtor central banks in MENA countries......Page 81
5 Central bank independence in MENA transition economy: The experience of Algeria......Page 100
6 Inflation targeting and financial fragility in Tunisia......Page 121
Part II Monetary policy and exchange rate regimes......Page 146
7 Alternative exchange rate regimes for MENA countries: Gravity model estimates of the trade effects......Page 148
8 Exchange rate arrangements and price stability in MENA countries......Page 183
9 Exchange rate regimes for small countries: An application to the Maghreb countries......Page 201
10 Estimating central bank behaviour in emerging markets: The case of Turkey......Page 225
11 A common currency for Middle Eastern and North African countries?: Lessons from the European Monetary Union......Page 241
Index......Page 261