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Measuring Financial Development in the Middle East and North Africa: A New Database

Susan Creane, Rishi Goyal, Ahmed Mobarak () and Randa Sab
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Susan Creane: International Monetary Fund
Rishi Goyal: International Monetary Fund
Randa Sab: International Monetary Fund

IMF Staff Papers, 2006, vol. 53, issue 3, 7

Abstract: This paper develops a methodology to construct detailed indices of financial sector development across countries and uses it to create a new panel database of finan-cial sector development in Middle East and North Africa (MENA) countries. It combines existing quantitative data with information from comprehensive surveys undertaken in 2000-01 and 2002-03. The data show that some MENA countries have relatively well-developed banking sectors and regulatory and supervisory regimes. However, across the region, the nonbank financial sectors and sup-porting institutions are in need of reform. The MENA region ranks far behind industrialized countries and East Asia in financial sector development. Copyright 2006, International Monetary Fund

JEL-codes: E44 E50 O16 O53 (search for similar items in EconPapers)
Date: 2006
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