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Macroprudential Policy and Financial Stability in the Arab Region

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Listed:
  • Mr. Ananthakrishnan Prasad
  • Heba Abdel Monem
  • Pilar Garcia Martinez

Abstract

Several characteristics of the structure of the Arab economies, their economic policy framework, and their banking systems make macroprudential policy a particular relevant tool. For most oil exporters, heavy reliance on the extractive sector for generating fiscal revenues and export earnings translates into increased vulnerabilities to oil price shocks. In the case of oil importers, relatively small external and fiscal buffers make them highly vulnerable to shocks. This paper discusses the experience of Arab countries in implementing macroprudential policies and contains recommendations to strengthen their macroprudential framework.

Suggested Citation

  • Mr. Ananthakrishnan Prasad & Heba Abdel Monem & Pilar Garcia Martinez, 2016. "Macroprudential Policy and Financial Stability in the Arab Region," IMF Working Papers 2016/098, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2016/098
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    References listed on IDEAS

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    Cited by:

    1. Ghosh, Saibal, 2017. "Does central bank governors term in office matter for macroprudential policies? Evidence from MENA banks," Research in International Business and Finance, Elsevier, vol. 40(C), pages 34-51.
    2. Brzuszkiewicz, Sara, 2017. "The Social Contract in the MENA Region and the Energy Sector Reforms," ESP: Energy Scenarios and Policy 253217, Fondazione Eni Enrico Mattei (FEEM).
    3. Al-Khazali, Osamah M. & Mirzaei, Ali, 2017. "The impact of oil price movements on bank non-performing loans: Global evidence from oil-exporting countries," Emerging Markets Review, Elsevier, vol. 31(C), pages 193-208.
    4. Mateev, Miroslav & Nasr, Tarek & Sahyouni, Ahmad, 2022. "Capital regulation, market power and bank risk-taking in the MENA region: New evidence for Islamic and conventional banks," The Quarterly Review of Economics and Finance, Elsevier, vol. 86(C), pages 134-155.
    5. Sara Brzuszkiewicz, 2017. "The Social Contract in the MENA Region and the Energy Sector Reforms," Working Papers 2017.04, Fondazione Eni Enrico Mattei.
    6. Ghosh, Saibal, 2018. "Governance reforms and performance of MENA banks: Are disclosures effective?," Global Finance Journal, Elsevier, vol. 36(C), pages 78-95.

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