The Lebanese Economy: Issues in its Post-War Development, 1992-2004
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Title
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The Lebanese Economy: Issues in its Post-War Development, 1992-2004 | |
| Author | AMF | |
| Publication Date | 21/11/2005 | |
| Description | ||
| In 2005, Lebanon is turning a new page on its politics, which should better accommodate sound economics and proper governance. The purpose of this paper is to draw a few lessons from the post-war experience of 1992-2004, in the hope that it can shed some useful light on the future direction of economic policy. The paper begins by outlining the pitfalls of economic reconstruction, and then discusses the drawbacks of high deficits, debt, and overvalued exchange rates. This is followed by a political economy analysis of the failures of the government and financial sectors. The conclusion from the paper is that reform policies should focus more on the real sector of the economy, and should take advantage of the country’s two fundamental assets, namely, its geography and its human capital | ||
