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Author: Charbel Nahas Publisher: World Bank Publications ISBN: Category : Access to Finance Languages : en Pages : 32
Book Description
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.
Author: Charbel Nahas Publisher: World Bank Publications ISBN: Category : Access to Finance Languages : en Pages : 32
Book Description
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.
Author: Jean-Claude Berthelemy Publisher: ISBN: Category : Languages : en Pages : 32
Book Description
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.
Author: Weltbank Publisher: ISBN: Category : Languages : en Pages :
Book Description
This policy note reviews the current determinants of gross domestic product growth in Lebanon, and proposes a strategy to accelerate such growth in the years to come. Emigration and macro-economic trends will require urgent attention to foster growth. In the absence of job opportunities, half of each Lebanese generation eventually emigrates while another fourth stays idle. Lebanon's active population is aging, its human capital is eroding, and its resident population is aging. To reverse these trends, growth needs to be accelerated to meet Lebanese economic expectations. Reviewing various possible constraints, the note concludes that fiscal imbalances and barriers to entry are most binding to economic growth. A pro-growth strategy could be articulated around fiscal stabilization and reducing barriers to investment. If synonymous with structural reforms in the pension, civil service and energy sectors, fiscal stabilization could even bring significant growth rewards, which are estimated at 0.4-0.5 percentage points of additional real GDP growth per year.
Author: Sami Atallah Publisher: Bloomsbury Publishing ISBN: 1788318498 Category : History Languages : en Pages : 376
Book Description
What is the future of the oil and gas sector in Lebanon? Following the recent discovery of these valuable resources in the southern Mediterranean, including in the Cypriot and Israeli offshore reserves, the possibility of Lebanon also becoming a petroleum-producing country has been raised. This collection of essays addresses the major challenges and opportunities that accompany the country's hope to join the petroleum club. Covering the key policy issues - from Lebanon's susceptibility to the oil curse, to the environmental risks of production - this book brings together expert analysis to offer answers at the institutional level. Of central importance, the contributors argue, is that for Lebanon to benefit from the discovery of petroleum, it must first reform its institutions with the full support of the voting public and civil society. Combining rigorous quantitative and qualitative research, the Lebanese Center for Policy Studies has produced here an essential book that puts petroleum in Lebanon, and the important questions that come with it, within a global perspective.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1463953488 Category : Business & Economics Languages : en Pages : 47
Book Description
Lebanon’s credit growth in 2008–10 has been concentrated in trade and services, household loans, and the construction sector. These sectors accounted for almost 80 percent of all new loans extended since 2008. Real estate lending in particular has been increased substantially. On the demand side, a renewal in confidence following an improved political environment in 2008 led to a rebound in economic activity that, together with a real estate boom, fueled credit demand.
Author: Lois Stevenson Publisher: IDRC ISBN: 1849802955 Category : Business & Economics Languages : en Pages : 383
Book Description
Examines the challenges to private sector growth in 12 Middle East and North African (MENA) countries, assessing comparative performance against a number of indicators and focusing on the special role of SMEs and entrepreneurial activity. Highlights the variation among countries in private sector dynamism and performance, the major government policy initiatives supporting private sector and SME activity in each country, and the perspectives of government officials, researchers, and other stakeholders on research, policy, and institutional capacity needs. Concludes with a framework for guiding a comprehensive set of policies and strategies to unleash the potential of entrepreneurship as a platform for future private sector growth.
Author: Laura Guazzone Publisher: Garnet Publishing Ltd ISBN: 0863725104 Category : History Languages : en Pages : 448
Book Description
Now available in paperback, this collection of essays offers an alternative approach to the study of today's Arab states by focusing on their participation in neo-liberal globalization rather than on authoritarianism or Islam. The effects of the restructuring of traditional state power engendered by globalization are analyzed separately, through updated empirical research into the political, economic, and security processes of each country considered. Egypt, Lebanon, Morocco, and Saudi Arabia are the case studies selected to represent different paths towards a shared model of a 'new' Arab state which, far from representing an exceptional case of resilience against global trends, may be seen in many instances as typifying their effects. The book offers both an overall conceptualization of change affecting the Arab states, domestically and internationally, and a series of in-depth case studies by country and functional areas. It is extremely timely when viewed within the context of the current political unrest and unprecedented change within the Middle East. This paperback edition includes a new preface which links the author's research to the current Arab Spring crisis.
Author: Charbel Nahas
Author: Charbel Nahas
Author: Jean-Claude Berthelemy
Author: 
Author: Jean-Claude Berthélemy
Author: Weltbank
Author: Sami Atallah
Author: Julia Devlin
Author: International Monetary Fund
Author: Lois Stevenson
Author: Laura Guazzone