The recent political developments in the Middle East have prompted increased scrutiny of the economies of the nations lying in this region. Over the past few months, the financial markets of Middle East and North Africa (MENA) have been affected by the speculations that existed before the war in Iraq as well as its subsequent repercussions. Factors such as lagging domestic, political reforms, government interference, and inflexible monetary and fiscal policies remain obstacles to privatization, globalization, and foreign investment in MENA economies. As the economies enter the post-war recovery phase, reform of financial markets seems necessary to accelerate economic growth.
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Paper provided by Penn Institute for Economic Research, Department of Economics, University of Pennsylvania in its series PIER Working Paper Archive with number
03-017.
Find related papers by JEL classification: E0 - Macroeconomics and Monetary Economics - - General E1 - Macroeconomics and Monetary Economics - - General Aggregative Models F3 - International Economics - - International Finance F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance G1 - Financial Economics - - General Financial Markets N2 - Economic History - - Financial Markets and Institutions O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity O5 - Economic Development, Technological Change, and Growth - - Economywide Country Studies
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