Suchergebnisse

Even though most Middle-Eastern and North African (MENA) countries have embarked on economic reform and structural adjustment programs, the Asian crisis of 1997 shifted the focus of such programs to financial markets. However, the lack of institutional development is a powerful obstacle to an increased access to MENA capital markets. Additionally, the region witnessed, and still, wars, political turmoil and economic instability. Consequently, MENA countries have not yet emerged as economic powers, which might explain the lack of academic research on MENA capital markets. In fact, it is unclear whether emerging markets in the MENA region respond, similarly, to economic and political shocks like other emerging markets and/or developed markets. Hence the purpose of this e-book is to fill this void in the literature and make an in-depth analysis of MENA capital markets in order to assess how they can improve their capital markets, and hence, benefit the global investor.

"Nachdem für langfristige Entscheidungen Informationen über die Zukunft notwendig sind, diese zukünftigen Entwicklungen jedoch nicht vorhergesagt werden können, gewinnt das 'Denken in Szenarien' - also alternativen Zukünften - im strategischen Management immer mehr an Bedeutung. Im Rahmen des Lagebildprozesses des österreichischen Nationalen Sicherheitsrates (NSR) wurden in einem gesamtstaatlich organisierten Szenarioprojekt mögliche 'Zukunftsentwürfe' für die Region Mittlerer Osten/ Nordafrika (MENA) erarbeitet." (Autorenreferat)

Turkey's popularity in the MENA region has increased since the AKP's rise to power in 2002. People-to-people contacts, economic progress, and a perceived European lifestyle have contributed to Turkey's popularity in the MENA region. Turkey's seemingly competitive political system and strong participation in elections are sources of appreciation. However, the meanings attributed to the Turkish political system have changed over time. Ankara's confrontational rhetoric on the perceived double standards of Western states and its calls for reform of the international system are welcomed. Turkey's increased popularity does not easily translate into broad regional influence. Ankara's credibility has deteriorated in the eyes of the region's elites. Its support of Sunni Islamists in the of the Arab uprisings antagonised the region's autocratic elites, ushering in a period of isolation between 2013 and 2020. Turkey's recent efforts to reintegrate in the region have thawed relations with Egypt, Saudi Arabia and the UAE, but incurred reputational costs vis-à-vis Sunni Islamists. Authoritarian practices and rising xenophobia against Syrian refugees and other Arab citizens also constrain Turkey's influence in the region. (author's abstract)

This paper reviews trends in taxation and revenue in MENA countries over 1990-2012, with a focus on non-resource taxes. On average, non-resource revenues declined slightly, while resource revenues soared. Country experiences vary: rates of main taxes and their revenues tend to be higher in the Magreb than in the Mashreq, except for the value-added tax, where lower rates are associated with equal or higher revenue; most oil producers raise little tax revenues-generally less than 5 percent of GDP-and most have reduced them since the late 1990s. But there are similarities: unlike common experienc