By Masood Ahmed
Most policymakers in the Middle East and North Africa agree that stronger economic growth is a crucial component of any strategy to address the region’s persistently high levels of unemployment and raise its living standards. One question that arises is: What role can the financial sector play?
It is well known that a dynamic and vibrant financial sector will improve economic outcomes for a country, leading to faster and more equitable economic growth. The key to answering this question, therefore, is to look to the past and examine how the financial sector has contributed historically to growth in the region. (more…)
Filed under: Economic outlook, Employment, growth, IMF, International Monetary Fund, Middle East | Tagged: bank credit, bank intermediation, banking competition, banking sector, credit information, economic growth, equity, financial depth, financial sector, financial services, financial shallowness, macroeconomic stability, Regional Economic Outlook: Middle East and North Africa, stock market, unemployment | 7 Comments »