Financial liberalization, financial system efficiency, and macroeconomic performance: lessons for Egypt, Jordan, and Lebanon.

Summary The objective of this thesis is to analyze through the case of the three most advanced countries in the process of financial liberalization in the Middle East (Jordan, Egypt and Lebanon) the relationship between financial development and economic development and what will be the impacts of financial liberalization. More specifically, it is to determine the financial system that will be more effective in the economic development of the three countries (system based on the bank or system based on the market) Our approach is to first adopt a quantitative analysis of financial development indicators to measure the impacts of financial liberalization and to understand the place occupied by each component of the financial system, To answer the major question, we adopt a cross-sectional econometric model with the objective of seeing the effect made by financial indicators on the growth rate of GDP in the long term, We use OLS to estimate the coefficients of explanatory variables, The influences of financial variables are estimated separately in five different regressions,.