Studies on Institutions & Development Performance


Author:	Mohamed Nagy eltony (Editor)
Series:
Price:	$30.00 (KD9.000)
ISBN Number:	99906-80-03-5
Language:	English
Publisher:	Arab Planning Institute - Kuwait
Description:	The role of institutions in explaining the variation of economic development performance of developing countries is now well established in the literature. The historical and empirical evidence suggests that alongside environmental, geographic and technological factors, institutional factors are found to be vital. These institutions have evolved over long periods of time, reflecting deeply-embedded value systems and social behavior. Thus, institutions affect the performance of the entire economy by their impact on the costs of exchange and production. As such, institutions affect the well-being of all individuals in a given society directly and indirectly. In recognition of the importance of the role of institutions in development performance, and in view of its function as a specialized think tank on matters relating to development policy design and implementation, the Arab Planning Institute organized an international Conference on Institutions and Economic Development Performance (Beirut 8-9 June, 2004). Papers embodying relevant research results based on cross-country comparisons as well as papers on country experiences, were presented and discussed in the Conference. This volume carries the papers presented in the Conference and a summary of the discussion that has taken place therein. Without getting involved in technical details, and despite the acknowledged diversity among Arab countries in terms of the level of development, it is perhaps safe to conclude that the Conference signaled the major challenges facing Arab countries in terms of the quality of their institutions. While it is recognized that institutions evolve very slowly over time, it is also realized that Arab countries need to face the challenge of seriously embarking on institutional reforms relevant to their societies. The objective of such institutional reforms, it is generally agreed, is to enhance the quality of the inherited institutions with a view of encouraging private initiatives and rationalizing the resource allocation process. The Arab Planning Institute sincerely hopes that the results, ideas and proposals embodied in the papers in this volume will trigger a wider discussion of the institutional issues involved and will encourage further research in the region.

Table of contents

Chapter One
Background and Overview (M. Nagy Eltony) Introduction An Overview of Chapters A Summary of Important Issues and Conclusions
Chapter Two
The Role of Institutions in Development Performance (Jeffrey B. Nugnet) Introduction Relative Growth Performance How Relevant Are Exogenous Factors? Insufficient Policy Reforms Institutional Deficiencies Summary and Conclusions
Chapter Three
Why Economic Growth Has Been Weak in Arab Countries: The Role of Exogenous Shocks, Economic Policy Failure and Institutional Deficiencies (Peter Nunnenkamp) Introduction Relative Growth Performance How Relevant Are Exogenous Factors? Insufficient Policy Reforms Institutional Deficiencies Summary and Conclusions An Overview of Chapters A Summary of Important Issues and Conclusions
Chapter Four
Institutions and Development Performance in Sudan (Ali A. Ali) Introduction and background Measuring Institutions Economic Development Performance: The Record The Role of Institutions The Political Measure of Institutions The Economic Measure of Institutions Concluding Remarks
Chapter Five
Privatization, State Ownership, and the Performance of Egyptian Banks (Mohammed Omran) Introduction The History of the Banking Sector in Egypt Background of the Bank Privatization Process in Egypt Literature Review on Bank Privatization Sample Construction Performance Measures and Methodology Results
Chapter Six
Transitional Institution for the Emerging Land Market in Urban China (Jieming Zhu) Introduction Transitional institutions for the land market: a conceptual framework An emerging real estate market structured by ambiguous property rights The advent of ambiguous property rights Change of economic system – gradualism and dualism Two new organizations during transition – local developmental state and danwei-enterprises Ambiguity arising from negotiated decentralization to the advantage of localities Ambiguous property rights: a transitional institution Performance and implications Pushing for further institutional change Conclusion
Chapter Seven
Does Ownership Structure Influence Firm Value? Evidence from India (Jayesh Kumar) Introduction Literature Review Data and Institutional Details Data sources and Sample selection Key Variables Control Variables Empirical Analysis Empirical Model Descriptive Statistics Regression Results Robustness of the Results Is Ownership Endogenous? Does the Dominant Owner Influences Performance? Conclusion
Chapter Eight
Exchange Rate Arrangements and Economic Performance in Arabic Countries (Laabas Belkacem) Introduction Historical Classification of Exchange Rate Arrangements Performance of Exchange Rate Arrangements Arab Exchange Rate Arrangements Arab Economic Performance and Exchange Rate Arrangements Exchange Rate Performance: Volatility, Misalignments and Vulnerability Impact on inflation Impact on Growth Conclusion
Chapter Nine
Arab Capital Markets Development and Institutions (Nagy Eltony & Mustafa Babiker) Introduction Arab Capital Markets The Role and the Quality of Institutions in the Region Efficiency of Arab Stock Markets Conclusions
Chapter Ten
Financial Reforms and Financial Development in Arab Countries (Jean-Claud Berthelemy & Nawel Bentahar) Introduction The Financial Poverty Trap Regulatory Framework Competition Legal Framework Financial Infrastructure Lessons learnt from financial liberalization in Egypt, Tunisia, Morocco and Jordan conclusion



Date:	2005

Number of Pages:	305

Price :	$30.00 (KD9.000)

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