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ERF’s Working Papers Series disseminates work in progress in order to promote constructive debate and peer review.

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TFP and Economic Potential of The Tunisian Economy

Sofiane Ghali and Pierre Mohnen

In this paper we try to measure and to explain total factor productivity (TFP) growth ... read more


The Long-Run Validity of Monetary Exchange Rate Model for A High Inflation Country and Misalignment: The Case of Turkey

Irfan Civcir

This paper applies the Johansen cointegration technique to examine the validity of the monetary model ... read more



Dvidend Signaling Hypothesis and Short-Term Asset Concentration of Islamic Interest-free Banking

Joseph Farhat , Kabir Hassan and Bashir Al-Zu’bi

This paper finds that dividend signaling hypothesis is able to explain the phenomenon of assets ... read more


Before The Fall Was The Turkish Lira Overvalued?

Irfan Civcir

This paper examines validity of purchasing power parity to evaluate whether the Turkish Lira was ... read more



Liberalization, Ownership and Productivity in Turkish Banking

Ihsan Isik , Ugur Meleke and Ebru Isik

This paper examines productivity developments in public, private and foreign banks operating in Turkey over ... read more


Financial Distress and Bank Performance: Turkish Experience

Ihsan Isik , Kabir Hassan and Ebru Meleke-Isik

Turkey experienced a severe financial crisis in 1994 that resulted in a record level economic ... read more


The Relationship of Earnings and Book Values to Equity Values: Evidence from Turkey

Asokan Anandarajan , Ihsan Isik and Ebru Isik

In this study, we examine factors associated with equity valuation in a newly emerging market, ... read more


Impact of Israeli Measures on Palestinian Child Labor and Schooling

Saleh Al Kafri

The objective of this paper is to study the determinants that make the Palestinian children ... read more


Interest Free and Interest-Bearing Money Demand: Policy Invariance and Stability

Amir Kia

This paper, using quarterly Iranian data for the period 1966-1998, extends the literature by investigating ... read more


Women’s Informal Employment in Palestine: Securing A Livelihood Against All Odds

Simel Esim and Eileen Kuttab

The article locates women’s informal employment in the Occupied Territories (OPT) in the context of ... read more


An Empirical Investigation of Economic Cooperation among the OIC Member Countries

Kabir Hassan

The regional economic blocks among OIC countries play an important role in economic improvement for ... read more


Egypt’s Growth Performance Under Economic Liberalism: A Reassessment with New GDP Estimates, 1885-1945

Tarik Yousef

Following a period of rapid growth in the late 19th century, Egyptian real per capita ... read more



Macroeconomic Instability, Capital Accumulation and Growth: The Case of Turkey 1963-1999

Mustafa Ismihan , Kivilcim Metin Ozcan and Aysit Tansel

This study investigates the empirical relationships between macroeconomic instability, capital accumulation and growth in Turkey ... read more