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Julia Tierney


The Diaspora, Debt, and Dollarization: Unraveling Lebanon’s Resilience to a Sovereign Debt Crisis

[Data from Banque du Liban ( Graph by the author. The ratio of dollar to Lebanese lira deposits is taken as a confidence indicator in the Lebanese economy.]

There are no official statistics on the numbers of Lebanese who have emigrated and are working abroad, nor on the immense sums of money they transfer to their home country. According to World Bank estimates, remittances comprised between fifteen and twenty percent of Lebanon’s gross domestic product over the past five years. More than half these remittances are earned in the Arab Gulf countries, where an average emigrant annually sends eight thousand one hundred US dollars ...

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Julia Tierney


Julia Tierney is a doctoral candidate in City and Regional Planning from the University of California-Berkeley. Her dissertation is on the political economy of real estate investment in Lebanon. She holds degrees in city planning from the Massachusetts Institute of Technology and in international relations and economics from the Johns Hopkins School of Advanced International Studies. Professionally she has worked in urban development at the World Bank and in international finance on Wall Street.