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Publications
Working Papers

Capital Raising in the Arab World

Juan Jose Cortina Lorente, Soha Ismail and Sergio L. Schmukler

This paper provides a first documentation of how firms in Arab countries use equity, corporate bond, and syndicated loan markets to obtain finance. We compile a large dataset at the ... read more


Publications
Working Papers

Firm Financing and Growth in the Arab Region

Juan Jose Cortina Lorente, Soha Ismail and Sergio L. Schmukler

This paper provides a first analysis of the extent to which firms in the Arab region use capital markets to obtain financing and grow. It addresses two questions: First, how ... read more


Publications
Working Papers

Anatolian Tigers and the Emergence of the Devout Bourgeoisie in the Turkish Manufacturing Industry: An Empirical Analysis

Izak Atiyas, Ozan Bakis and Esra Çeviker Gürakar

It has widely been asserted that an important dimension of social dynamics that eventually carried the Justice and Development Party (Adalet ve Kalkınma Partisi, AKP) to political power is the ... read more


Publications
Working Papers

Moroccan Cronyism: Facts, Mechanisms and Impact

Mohammed Said Saadi

The purpose of this paper is to shed some light on Moroccan cronyism by studying its manifestation and impact in the manufacturing sector. More specifically, it attempts to find out ... read more


Publications
Working Papers

Do Political Connections Reduce Job Creation? Evidence from Lebanon

Ishac Diwan and Jamal Ibrahim Haidar

Using firm-level census data, we determine how politically-connected firms (PCFs) reduce job creation in Lebanon. After observing that large firms account for the bulk of net job creation, we find ... read more


Publications
Working Papers

Accessibility, Transportation Cost and Regional Growth: A Case Study for Egypt

Dina Elshahawany, Eduardo A. Haddad and Michael L. Lahr

The potential ability of transport infrastructure investments to produce transport benefits depends on the travel time reductions and accessibility. In this paper, we use an interregional computable general equilibrium (CGE) ... read more


Publications
Working Papers

Firm and Regional Factors of Productivity: A Multilevel Analysis of Tunisian Manufacturing

Mohamed Amara and Khaled Thabet

In this paper, we use multilevel models to simultaneously analyze individual, sectoral and regional characteristics that might affect the total factor productivity of Tunisian manufacturing firms for the period 1998-2004. ... read more


Publications
Working Papers

رؤية لاتجاهات السياسة الصناعية المصرية فى ضوء بعض الدراسات المقارنة (Government Intervention with No Structural Transformation: The Challenges of Egyptian Industrial Policy in Comparative Perspective)

Amirah El-Haddad

Structural transformation in Egypt has been modest. Industry is growing at a slower rate than services. Within industry, the non-manufacturing sectors of mining, construction and utilities have grown faster than ... read more


Publications
Working Papers

Informal Competition, Firms’ Productivity and Policy Reforms in Egypt

Nesma Ali and Boris Najman

This paper investigates the effect of the competition stemmed from informal firms on formal firms’ productivity in Egypt. Using the World Bank’s Enterprise Surveys, we update the two-step methodology of ... read more


Publications
Working Papers

Determinants of Productivity in Morocco: The Role of Trade?

Michael Gasiorek

Abstract The aim of this paper is to explore the determinants of productivity and productivity change in the Moroccan economy, with a particular interest in examining the role of international trade in impacting ... read more


Publications
Working Papers

The Changing Economic Environment and the Development of the Micro and Small Enterprises in Egypt 2006

Alia El Mahdi and Ali Rashed

Abstract This paper used the Egyptian Labor Market Panel data 2006 to compare the changes that took place in the labor market, and particularly the MSEs market, over time (1998 and 2006) ... read more


Publications
Working Papers

Potentiel Entrepreneurial en Algérie : Entre Capital Humain et Informalité, Quelle Croissance ?

Nacer-Eddine Hammouda and Moundir Lassassi

Abstract An analysis of trajectories and positions in the field of economic activity and their joints with individual profiles, especially in terms of human capital, often confined to paid employment and the labour ... read more


Publications
Working Papers

Export Orientation and Exchange Rate Changes: Do Firms React Differently and Why?

Khalid Sekkat

Abstract This paper uses firm level data from 28 developing countries to examine the relationship between manufactured firms’ export orientation and exchange rate. The analysis incorporates the role of firm heterogeneity ... read more


Publications
Policy Research Reports

Welfare Effects of Institutional Reform in Public Utilities: The Case of Voice Telecommunication in Egypt

Amirah El-Haddad and Khaled Attia

Many countries, including Egypt, have undergone significant utility sector reform since the 1990s. This case study assesses the institutional reforms initiated in 1997 in Egyptian telecommunications, ending 40 years of ... read more


Publications
Policy Research Reports

Micro and Small Enterprises in Turkey: Uneasy Development

Semsa Ozar

The role played by Micro and Small Enterprises (MSEs) in the Turkish economy has attracted a considerable attention in recent years, but mainly from two sources. The first, originated from ... read more


Publications
Policy Research Reports

Dynamisme de la Micro et Petite Entreprise au Maroc

Bachir Hamdouch

La micro et petite entreprise (MPE), définie comme l’entreprise employant moins de cinquante personnes, représente au Maroc selon le recensement économique effectué en 2001-2002, 99,6% des établissements économiques non agricoles ... read more