Economic Studies Program
To efficiently fulfill its obligations and accomplish the SCSS’s objectives, the Program has been designed to conduct detailed economic studies and thoroughly probe Yemen's economic issues and affairs. Priority shall be given to those issues and points that have never been touched upon nor dealt with. More importantly, the Program will embark on the construction of a comprehensive database incorporating economic-based statistics and information to be updated on a timely basis.
The Program intends to offer consultations on different relevant fields via various means and ways. In doing so, it plans to give priority to researches and feasibility studies on state or privately-owned projects. In coordination with the SCSS Translation Department, there would be translations of latest foreign researches and studies of scientifically significant and beneficial nature.
Accountability Arrangements for Financial Sector RegulatorsAuther: || Date:
The idea that central banks should be independent from government has gained wide acceptance in the past few decades. Experience has shown that political interference in monetary policy often has undesirable economic consequences. But policymakers are still reluctant to grant independence to the agencies that regulate and supervise the financial sector. One reason is the fear that regulators and supervisors, with their wide-ranging responsibilities and their power to penalize those who do not comply with regulations, could become a law unto themselves.....more
Moving to a Flexible Exchange Rate: How, When, and How Fast?; Rupa Duttagupta, Gilda Fernandez, and Cem KaracadagAuther: || Date:
A fixed exchange rate, which pegs the value of a currency to a strong foreign currency like the dollar or the euro, has many advantages, particularly for developing countries seeking to build confidence in their economic policies. And such pegs have been associated with lower inflation rates. However, countries with fixed exchange rates seem to be more vulnerable to currency crises, as well as to twin currency and banking crises, than those with more flexible regimes. Indeed, as economies mature and become more closely tied with international financial markets, the benefits of exchange rate flexibility appear to increase. ……..more
Economic Trends And Impacts: Banking Sector Lending Behaviour And Efficiency in Selected Escwa Member CountriesAuther: || Date:
The study shows that banks dominate and are still the core of the financial system in the ESCWA region. Given that the banking sector is the main vehicle for executing the monetary policy decisions that affect overall economic activity and prices through market interest rates and liquidity, the building of an efficient and sound banking sector is critical to ensuring a healthy financial system in the region. The effectiveness with which a country’s financial system transforms direct savings into productive activities has a significant impact on economic growth. The manner in which savings are channelled into productive activities is largely dependent on a country’s financial institutions and their effectiveness, that is, on the financial structure.
Global Forecasts and Predictions for the ESCWA Region: Monetary and Fiscal Trends and ForecastsAuther: || Date:
The study is divided into three main parts. Chapter I provides an analysis of the major monetary developments in the ESCWA member countries to determine whether their monetary policies are sustainable over the next few years. The first section of this chapter includes an overview of exchange rate policies in the region and an assessment of the sustainability of fixed exchange rate regimes; the second section focuses on inflationary developments and trends during the past four decades; exchange rate misalignments are examined in the third section; and the fourth section analyses the conduct of monetary policies, with particular attention given to interest rate policies, the supply of money, and foreign currency reserves. Chapter II evaluates the major fiscal developments in the region in order to generate predictions of fiscal policy sustainability in the coming few years. The first section provides an overview of fiscal developments in both the diversified and non-diversified economies, and the second section offers forecasts of public debt sustainability in the region (initially by analysing debt ratios, and then by running unit root and cointegration tests on variables of particular interest within the present-value constraint framework). Chapter III concludes
Preserving Financial StabilityAuther: || Date:
Over the past three decades, financial markets have undergone a radical transformation and rapid expansion, driven by deregulation, liberalization, and globalization and advances in information and computer technologies. Cross-border capital flows have surged, markets have developed sophisticated new financial instruments, and the ease and speed with which financial transactions can be carried out have increased dramatically......more