Macroprudential Policy and Financial Stability in the Arab Region

By Ananthakrishnan Prasad, Heba Abdel Monem, Pilar Garcia Martinez

May 20, 2016

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Format: Chicago

Ananthakrishnan Prasad, Heba Abdel Monem, and Pilar Garcia Martinez. Macroprudential Policy and Financial Stability in the Arab Region, (USA: International Monetary Fund, 2016) accessed December 22, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

Several characteristics of the structure of the Arab economies, their economic policy framework, and their banking systems make macroprudential policy a particular relevant tool. For most oil exporters, heavy reliance on the extractive sector for generating fiscal revenues and export earnings translates into increased vulnerabilities to oil price shocks. In the case of oil importers, relatively small external and fiscal buffers make them highly vulnerable to shocks. This paper discusses the experience of Arab countries in implementing macroprudential policies and contains recommendations to strengthen their macroprudential framework.

Subject: Banking, Credit, Financial sector policy and analysis, Financial sector stability, Macroprudential policy, Macroprudential policy instruments, Money, Systemic risk

Keywords: A number of central banks, Banking sector, Capital market, Capital market authority, Countries central banks, Credit, Financial sector stability, Financial stability, FX loan, Global, Legal reserve, Liquidity level, Liquidity regulation, Liquidity window, Macroprudential policy, Macroprudential policy instruments, Market cap, Monetary policy independence, Price index, Private sector, Supervisory function, Systemic risk, WP

Publication Details

Pages:

57
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2016/098
Stock No:

WPIEA2016098
ISBN:

9781484361641
ISSN:

1018-5941

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