Youth employment and regional integration in the Euro-Mediterranean region – Qualitative and quantitative economic analysis on whether and how regional integration could lead to youth employment
The overall objective of this study is to examine how regional integration can provide both short-term and long-term solutions to the employment crisis in the Euro-Mediterranean region. The study targets both increased employment creation for and improved employability of youngsters in Southern and Northern Mediterranean countries, facing persistently high and increasingly unsustainable youth unemployment rates. The analysis conducted explores the conditions under which regional integration would contribute to enhance employment creation besides sustaining output growth, which is a precondition for the expansion of employment opportunities, yet not systematically translating into higher levels of employment. It will also bring evidence of the costs, in terms of rising inequalities and persistent instability, of not engaging in a path of regional integration conducive to inclusive growth.
Economic and Social Development of the Southern and Eastern Mediterranean Countries
This book contains a unique collection of studies on key economic and social policy challenges faced by countries of the Southern and Eastern Mediterranean region in a short- and long-term perspective. Prepared within the EU funded FP7 project on „Prospective Analysis for the Mediterranean Region (MEDPRO)” conducted in 2010-2013 it takes account on recent political developments in the region (Arab Spring) and their potential consequences. It covers a broad spectrum of topics such as factors of economic growth, macroeconomic and fiscal stability, trade and investment, Euro-Mediterranean and intra-regional economic integration, private sector development and privatizations, infrastructure, tourism, agriculture, financial sector development, poverty and inequality, education, labor market and gender issues.
Micro-, Small- and Medium-Sized Enterprises with High-Growth Potential in the Southern Mediterranean: Identifying Obstacles and Policy Responses
The Arab Spring, which took root in Tunisia and Egypt in the beginning of 2011 and gradually spread to other countries in the southern Mediterranean, highlighted the importance of private-sector development, job creation, improved governance and a fairer distribution of economic opportunities. The developments led to domestic and international calls for the region’s governments to implement the needed reforms to enhance business and investment conditions, modernise their economies and support the development of enterprises. Central to these demands are calls to enhance the growth prospects of micro-, small- and medium-sized enterprises (MSMEs), which represent an overwhelming majority of the region’s economic activity.
On the basis of interviews conducted among high-growth potential MSMEs in selected countries in the southern Mediterranean – Algeria, Egypt, Morocco and Tunisia – this report identifies and ranks key obstacles preventing MSMEs from reaching their high-growth potential and puts forward effective policy responses to reduce these obstacles. If implemented, the authors argue that these policies could unlock the MSMEs potential to contribute more to their economies.
Macroeconomic and Financial Crisis Management in the Southern and Eastern Mediterranean: Diagnosis and Prospects
The global financial crisis, which started in the summer of 2007 and deepened in the aftermath of the Lehman failure in September 2008, has led to a virtual collapse in economic activity and increased financial volatility worldwide. For the developing countries, the main channel of transmission has been a drop in external transactions, such as trade, financial and capital flows, and remittances. The emerging economies in the southern and eastern Mediterranean have also faced declining economic activity, although there seems to be considerable variation in the relative magnitude and timing. Most of these economies have shown a delayed but more lasting response to the crisis, driven mostly by their close trade and investment ties with the EU and the Gulf Cooperation Council (GCC) countries. This book explores the fiscal, monetary and financial effects of the crisis in the region and provides an in-depth analysis of the fiscal, monetary and banking policies in the post-crisis era, the viability of their exit strategies and the future of reforms in the region. These analyses not only provide a comprehensive comparison between the countries but also provide a solid basis for assessing future economic and financial developments and reforms in the region.
Financial Centres in Europe: Post-Crisis Risks, Challenges and Opportunities
This book published by Palgrave Macmillan explores how financial centres in Europe have responded to the financial crisis and outlines the challenges and opportunities brought about by the increased international cooperation in regulation and taxation. It has benefited from interviews with key players in banking, insurance, fund management, trust industry and regulators, tax authorities and others in the major financial centres in Europe during the financial crisis.
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Monetary Policies, Banking Systems, Regulatory Convergence, Efficiency and Growth in the Mediterranean
Co-edited by Rym Ayadi and Sami Mouley this book assesses the new challenges facing monetary policies and the independence of central banks. It explores regulatory convergence in banking and examines the impact of monetary policy and bank sector regulation on bank efficiency and economic growth in the Southern and Eastern Mediterranean. The analysis of this book shows how the conduct of monetary policy in conjunction with regulation can impact bank efficiency and economic growth. It could serve as a key manual for central banks and ministries of finance in developing countries to ensure that monetary policy and regulation are conducive to further growth and development.
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Convergence of Bank Regulations on International Norms in the Southern Mediterranean: Impact on Bank Performance and Growth
International standards and norms in banking regulations have, once again, leapt to the forefront of policy discussions in developed nations due to the recent crisis in the world’s financial markets. These discussions are not new, nor do they apply exclusively to the world’s most advanced economies. A sound and well-enforced regulatory regime can help developing nations to channel financial resources more efficiently into investments. For open economies, it can also act as a buffer and an important stability factor in today’s shaky market situation. Against this background, this study examines the impact of banking sector regulations on bank efficiency and economic growth in four Southern Mediterranean countries – Algeria, Egypt, Morocco and Tunisia – while exploring the level of convergence of regulatory practices and efficiency to EU Mediterranean standards.
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