Economic dislocation and recovery in Lebanon:
Saved in:
| Format: | Book |
|---|---|
| Language: | English |
| Published: |
Washington, DC
Internat. Monetary Fund
1995
|
| Series: | International Monetary Fund: Occasional paper
120 |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Item Description: | Literaturverz. S. 60-62 |
| Physical Description: | VII, 64 S. graph. Darst. |
| ISBN: | 1557754594 |
Staff View
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Contents
Page
Preface vii
I Introduction I
II Some Economic Consequences of the Civil War 3
Consequences of the War for Output 3
How Fast Can Lebanon Recover? 6
Does It Matter for Growth What Type of Capital Was Lost? 9
III Impact of the War on Budgetary Performance, Structural
Weaknesses of the Budget, and Reform Measures 11
Overview of Fiscal Performance During and After the War 11
Structural Weaknesses of the Budget 15
Measures to Address the Structural Weaknesses 17
IV Currency Substitution and Dollarization 19
Origins and Extent of Dollarization 19
Capital Flight and Repatriation 20
Advantages and Disadvantages of Dollarization 22
Policies to Achieve, and Consequences of, De Dollarization 23
V Estimating Money Demand in Lebanon 25
Dollarization and the Definition of Money 25
Behavior of Velocity 25
Specifications of Money Demand 26
Unit Root Tests for Stationarity 27
Money Demand: Cointegration Results and Policy Implications 28
Conclusions 30
VI Exchange Rate Developments and Their Relationship to Inflation 32
Evolution of the Exchange Rate 32
Long Term Relationship Between Exchange Rate Movements
and Inflation 36
Short Term Dynamics of Inflation and the Exchange Rate and the
Two Way Relationship Between Them 40
Text Tables
Section
II 1. Measures of GDP 4
2. Population and GDP 5
D
3. Convergence of Actual to Steady State Real Per Capita Incomes 9
III 4. Summary of Public Sector Operations (In billions of Lebanese pounds) 12
5. Summary of Public Sector Operations (In percent of GDP) 13
6. Summary of Public Sector Operations (In percent of total) 14
7. Fiscal Indicators for Selected Middle Eastern Countries 16
IV 8. Currency Substitution 20
9. Average Inflation Tax 23
V 10. Phillips Perron Tests for Stationarity, 1964 93 28
VI 11. Exchange Rate Indices and Inflation 33
12. Legal Minimum Wages 36
13. Regressions of the Differential Between Lebanese and U.S.
Inflation Rates on Changes in the LL/US\ Rate 38
14. Dickey Fuller Unit Root Tests, 1951 93 38
15. Johansen Cointegration Test, 1975 93 39
16. Dickey Fuller Unit Root Tests, 1989 92 39
17. Johansen Cointegration Test, 1989 92 40
Charts
Section
II 1. GDP and Population Indices 6
2. Per Capita Real GDP, 1964 2010 7
III 3. GDP and Fiscal Performance 11
IV 4. Currency Substitution and Dollarization 21
5. Dollarization and Exchange Rate Movements 21
6. Real and Nominal Cross Border Deposits 21
7. Cross Border Deposits (As percent of foreign exchange reserves
minus gold) 22
8. Cross Border Deposits (As percent of Ml, including foreign
currency deposits) 22
V 9. Velocity of Monetary Aggregates 26
10. Monetary Aggregates 26
11. Composition of Total Liquidity 27
VI 12. Volatility of the Lebanese Pound/U.S. Dollar Exchange Rate 34
13. Real and Nominal Effective Exchange Rates, 1964 93 35
14. Real and Nominal Effective Exchange Rates, 1989 93 35
15. Lebanon and Selected Other Countries: Nominal Effective
Exchange Rates 36
16. Lebanon and Selected Other Countries: Real Effective Exchange Rates 37
17. Price Level and Exchange Rates, 1951 80 37
18. Price Level and Exchange Rates, 1975 93 37
19. Price Level and Exchange Rates, 1989 94 38
Appendices
I Exchange and Trade System 42
II Statistical Tables 44
Al. Selected Social, Economic, and Financial Indicators 44
A2. Selected Indicators of Sectoral Economic Activity 46
A3. Consumer Price Indices 46
A4. Summary of Central Government Operations 47
A5. Treasury Bills in Circulation 48
A6. Bank of Lebanon Balance Sheet 49
A7. Commercial Banks'Balance Sheet 50
A8. Monetary Survey 51
F
A9. Factors Affecting Lebanese Pound Component of Domestic Liquidity 51
A10. Distribution of Residents' Monetary Assets 52
All. Commercial Banks' Claims on Private Sector Classified by
Economic Activity 52
A12. Discounts and Yields on Three Month Treasury Bills 53
A13. Commercial Bank Interest Rates on Lebanese
Pound Transactions, 1989 94 54
Al 4. Summary of the Balance of Payments 55
A15. Composition of Industrial Exports 56
A16. Destination of Exports 56
A17. Source of Imports 57
Al 8. Exchange Rate of the Lebanese Pound 58
A19. Nominal and Real Effective Exchange Rates of the Lebanese Pound 59
Bibliography 60
The following symbols have been used throughout this paper
. to indicate that data are not available;
— to indicate that the figure is zero or less than half the final digit shown, or that
the item does not exist;
between years or months (e.g., 1991 92 or January June) to indicate the years
or months covered, including the beginning and ending years or months;
/ between years (e.g., 1991/92) to indicate a crop or fiscal (financial) year.
"Billion" means a thousand million.
Minor discrepancies between constituent figures and totals are due to rounding.
The term "country," as used in this paper, does not in all cases refer to a territorial
entity that is a state as understood by international law and practice; the term also
covers some territorial entities that are not states, but for which statistical data are
maintained and provided internationally on a separate and independent basis. |
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| genre | (DE-588)4056995-0 Statistik 1964-1993 gnd-content |
| genre_facet | Statistik 1964-1993 |
| geographic | Libanon - denarna politika - devizni tečaji Libanon (DE-588)4035567-6 gnd |
| geographic_facet | Libanon - denarna politika - devizni tečaji Libanon |
| id | DE-604.BV010223436 |
| illustrated | Illustrated |
| indexdate | 2024-11-19T11:05:37Z |
| institution | BVB |
| isbn | 1557754594 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-006794641 |
| oclc_num | 441839828 |
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| owner_facet | DE-739 DE-20 DE-12 DE-473 DE-BY-UBG DE-N2 DE-188 DE-11 |
| physical | VII, 64 S. graph. Darst. |
| publishDate | 1995 |
| publishDateSearch | 1995 |
| publishDateSort | 1995 |
| publisher | Internat. Monetary Fund |
| record_format | marc |
| series | International Monetary Fund: Occasional paper |
| series2 | International Monetary Fund: Occasional paper |
| spelling | Economic dislocation and recovery in Lebanon Sena Eken ... Washington, DC Internat. Monetary Fund 1995 VII, 64 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier International Monetary Fund: Occasional paper 120 Literaturverz. S. 60-62 Wirtschaft (DE-588)4066399-1 gnd rswk-swf Libanon - denarna politika - devizni tečaji Libanon (DE-588)4035567-6 gnd rswk-swf (DE-588)4056995-0 Statistik 1964-1993 gnd-content Libanon (DE-588)4035567-6 g Wirtschaft (DE-588)4066399-1 s DE-604 Eken, Sena 1949- Sonstige oth International Monetary Fund: Occasional paper 120 (DE-604)BV002597241 120 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=006794641&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Economic dislocation and recovery in Lebanon International Monetary Fund: Occasional paper Wirtschaft (DE-588)4066399-1 gnd |
| subject_GND | (DE-588)4066399-1 (DE-588)4035567-6 (DE-588)4056995-0 |
| title | Economic dislocation and recovery in Lebanon |
| title_auth | Economic dislocation and recovery in Lebanon |
| title_exact_search | Economic dislocation and recovery in Lebanon |
| title_full | Economic dislocation and recovery in Lebanon Sena Eken ... |
| title_fullStr | Economic dislocation and recovery in Lebanon Sena Eken ... |
| title_full_unstemmed | Economic dislocation and recovery in Lebanon Sena Eken ... |
| title_short | Economic dislocation and recovery in Lebanon |
| title_sort | economic dislocation and recovery in lebanon |
| topic | Wirtschaft (DE-588)4066399-1 gnd |
| topic_facet | Wirtschaft Libanon - denarna politika - devizni tečaji Libanon Statistik 1964-1993 |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=006794641&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| volume_link | (DE-604)BV002597241 |
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