Despite recent gains, the development challenges of the Middle East and North Africa (MENA) region remain formidable. Job creation remains the most important one given the magnitude of its demographic transition and the seventy million people that are expected to seek employment opportunities in...

This paper studies the impact of the financial and economic liberalization in Tunisia since the mid-1980s on the financial structure and behavior of the corporate sector. We analyze the effect of financing constraints, due to market imperfections as well as credit allocation policies, on the...

The paper presents an institutional economic analysis of State-Owned-Enterprise reform where the large size of the public sector, which is a major characteristic of most MENA countries, plays a central role in the overall reform process. It is suggested that a major determinant of the power and...