Research Projects
Dollarization, currency substitution and the demand for money: the case of Egypt This study will attempt to modify Cuddington’s portfolio balance approach to distinguish empirically currency substitution from dollarization. This distinction will determine whether foreign money should be included in money supply when trying to estimate a money demand that will be the basis for assessing the proper channels and instruments for an effective monetary policy. To explain the long-run behavior of holdings of money in Egypt, the Engle-Granger and error correction modeling along with the Johansen-Juselius cointegration techniques will be utilized for the period 1981:I-1996:I. To check the robustness of these results variance decompositions will be computed from an unrestricted VAR. T. Alami. Korean cars in the Lebanese market Estimation of the price and advertising elasticities of demand is important in determining the sales of Korean cars in the Lebanese market. Despite trade barriers, high capital requirements, and the good reputation of already established names (like Mercedes, BMW, Toyota, etc.) the three Korean manufacturers: Hyundai, Daewoo and Kia, now dominate the new car market. Analysis of actual and desired advertising-sales ratios is made following the DorfSteiner model of optimal advertising. Research is underway. U. Ramadan. The developmental role of the Lebanese industrial sector The purpose of this project is to study the role of the industrial sector in the development process in Lebanon. Is there a need for an industrial policy given the changing structure of the Lebanese economy? The implications for unemployment and distribution of income of such a policy will be explored. U. Ramadan. A critical assessment of macroeconomic policies and stabilization programs in selected Middle Eastern economies Analysis of macroeconomic policies and recent performance in selected Arab Middle Eastern economies with special emphasis on stabilization, taxation, debt, and external financing of development programs. Research in progress. G. Sirhan. Privatization process in the Middle East region: impediments and prospects. The study focuses on the privatization experience of some of the Arab Middle Eastern countries, including approaches used in implementing privatization programs. Research in progress. G. Sirhan. The relationship between tax policy and public debt: the case of Lebanon Expanding
a working paper on the impact of tax policy on public debt and capital
flight. G. Youssef.
Ramadan,
U. and Samuels, W.*, The treatment of post Keynesian economics in the history
of economic thought texts. Journal of Post Keynesian Economics,
18 (4), 547-565, 1996.
Abstracts, Presentations and Proceedings Ramadan, U., Role of women in the Lebanese economy. Lebanese National Conference on Women, Beirut, Lebanon, 1996. Sirhan, G., Chaired a panel discussion on long term financing of development projects. Forum on Investment Banking. Proceedings have been published in Business Lebanon, Second Quarter, Beirut, Lebanon, 1997. Youssef,
G., The impact of tax policy on public debt and capital flight. National
Convention on Socio-Economic Issues, Beirut, Lebanon, April, 1997.
El-Rayes, N., The role of the port of Beirut in the Lebanese economy: past performance and future development (1997). Advisor: G. Sirhan. Haddad, A. N, Economic implications of the Lebanese public administration reform (1997). Advisor: G. Youssef. Houry, R., Tax policy in Lebanon; the case for value added tax (1997). Advisor: G. Youssef. Matar, M., Tourism demand in Lebanon (1997). Advisor: U. Ramadan. Salameh,
G., Television broadcasting network in Lebanon (1996). Advisor: U. Ramadan.
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