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Macroprudential Policy and Financial Stability in the Arab Region
Author:
Mr. Ananthakrishnan Prasad
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Heba Abdel Monem null

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Pilar Garcia Martinez null

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Series:
IMF Working Papers
Volume/Issue:
Volume 2016: Issue 098
Language:
English
Publication Date:
20 May 2016
DOI:
https://doi.org/10.5089/9781484361641.001
ISBN:
9781484361641
ISSN:
1018-5941
Pages:
57
Keywords:
WP; capital market; banking sector; legal reserve; price index; liquidity window; market cap; private sector; Macroprudential policy; systemic risk; credit; financial stability; a number of central banks; supervisory function; countries central banks; liquidity level; monetary policy independence; liquidity regulation; capital market authority; FX loan; Financial sector stability; Macroprudential policy instruments; Global
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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Several characteristics of the structure of the Arab economies, their economic policy framework, and their banking systems make macroprudential policy a particular relevant tool. For most oil exporters, heavy reliance on the extractive sector for generating fiscal revenues and export earnings translates into increased vulnerabilities to oil price shocks. In the case of oil importers, relatively small external and fiscal buffers make them highly vulnerable to shocks. This paper discusses the experience of Arab countries in implementing macroprudential policies and contains recommendations to strengthen their macroprudential framework.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund