Technical report

Access by MSMEs to Finance in the Southern and Eastern Mediterranean: What role for credit guarantee schemes?

Micro-, small- and medium-sized enterprises (MSMEs) in the Southern and Eastern Mediterranean suffer from credit constraints. Given their contribution to employment and growth, similarly as in other regions, policy-makers have developed credit guarantee schemes (CGSs) in order to facilitate small companies’ access to debt capital. CGSs are risk-sharing mechanisms under which a guarantor ensures the lender against a share of the possible losses it incurs when extending a loan.

AttachmentSizeHitsLast download
MEDPRO TR No 35 WP6 Ayadi.pdf2.13 MB19032 hours 45 min ago
Date of publication: 
Tue, 30/04/2013
Author(s): 
Rym Ayadi, Salim Gadi
Institutions: CEPS

The Euro-Mediterranean Partnership and Development Assistance: Past Trends and Future Scenarios

The 2011 uprisings in the southern and eastern Mediterranean have put the region at the forefront of current policy developments, calling into question the future of their domestic political systems and the future of the EU partnership with its Southern Neighbourhood. Against this backdrop, this paper analyses and assesses the EU’s development assistance to the region since 1995 and provides insights into the future of the Euro-Mediterranean Partnership.

AttachmentSizeHitsLast download
MEDPRO TR No 32 WP9 Ayadi.pdf2.98 MB180515 hours 33 min ago
Date of publication: 
Tue, 09/04/2013
Author(s): 
Rym Ayadi and Salim Gadi
Institutions: CEPS

Benchmarking the Financial Sector in the Southern and Eastern Mediterranean Countries and Projecting 2030 Financial Sector Scenarios

This paper aims at devising scenarios for the development of the financial system in the southern and eastern Mediterranean countries (SEMCs), for the 2030 horizon. The results of the simulations indicate that bank credit to the private sector, meta-efficiency and stock market turnover could reach at best 108%, 78% and 121%, respectively, if the SEMCs adopt the best practices in Europe. These scenarios are much higher than those of the present levels in the region but still lower than the best performers in Europe.

AttachmentSizeHitsLast download
MEDPRO TR No 31 WP6 Ayadi.pdf374.6 KB18273 days 2 hours ago
Date of publication: 
Fri, 22/03/2013
Author(s): 
Rym Ayadi, Emrah Arbak, Sami Ben-Naceur, Willem Pieter De Groen
Institutions: CEPS, FEMISE

Assessment of Socio-Economic and Climate Change Effects on Water Resources and Agriculture in Southern and Eastern Mediterranean countries

This study aims at assessing the socio-economic and environmental effects of different societal and human development scenarios and climate change in the water-scarce southern and eastern Mediterranean. The study develops a two-stage modelling methodology that includes an econometric analysis for the southern and eastern Mediterranean region as a whole and a detailed, integrated socio-ecological assessment focusing on Jordan, Syria and Morocco. The results show that water resources will be under increasing stress in future years.

AttachmentSizeHitsLast download
MEDPRO TR No 28 WP4a Varela.pdf3.84 MB13413 days 14 hours ago
Date of publication: 
Thu, 21/03/2013
Author(s): 
Consuelo Varela-Ortega, Paloma Esteve, Irene Blanco, Gema Carmona, Jorge Ruiz, Tamara Rabah
Institutions: UPM

Convergence and Integration of Banking Sector Regulations in the Euro-Mediterranean area

This analysis of regulatory convergence shows that substantial improvements have been made in the southern and eastern Mediterranean countries (SEMCs), yet they still suffer from key weaknesses in deposit insurance, entry obstacles, political interference and the strength of legal rights. In particular, deposit insurance systems in many SEMCs are not explicit, which could lead to uncertainties in the provision of support to banks in case of default.

AttachmentSizeHitsLast download
MEDPRO TR No 34 WP6 Ayadi.pdf384.88 KB17422 hours 18 min ago
Date of publication: 
Tue, 19/03/2013
Author(s): 
Rym Ayadi, Emrah Arbak, Willem Pieter De Groen
Institutions: CEPS

Dynamics of Bank Efficiency in the EU and Southern Mediterranean: Is there a Convergence?

Against a background of decades of regulatory reforms aimed at fostering integration, promoting competition, efficiency and productivity growth in the financial industry, both in developed and developing countries, in this MEDPRO Technical Report the authors seek to assess the outcomes of these reform processes on the dynamics of bank efficiency – via the estimation of stochastic meta-frontiers – and convergence for a large sample of countries over the period 1997-2010.

AttachmentSizeHitsLast download
MEDPRO TR No 33 WP6 Casu.pdf564.37 KB177115 hours 35 min ago
Date of publication: 
Tue, 19/03/2013
Author(s): 
Barbara Casu and Alessandra Ferrari
Institutions: CEPS

Financial Development, Bank Efficiency and Economic Growth across the Mediterranean

This MEDPRO Technical Report explores the relationship between financial sector development and economic growth, using a sample of northern and southern Mediterranean countries for the years 1985-2009. The authors included several variables to measure the development of the financial sector to account both for quantity and quality effects. The results indicate that credit to the private sector and bank deposits are negatively associated with growth, which confirms deficiencies in credit allocation in the region and suggests weak financial regulation and supervision.

AttachmentSizeHitsLast download
MEDPRO TR No 30 WP6 Ayadi.pdf362.57 KB36156 hours 43 min ago
Date of publication: 
Fri, 08/03/2013
Author(s): 
Rym Ayadi, Sami Ben-Naceur, Willem Pieter De Groen, Emrah Arbak
Institutions: CEPS, FEMISE

Determinants of Financial Development across the Mediterranean

Casual observation shows that that the financial systems in the southern and eastern Mediterranean are unable (or unwilling) to divert the financial resources that are available to them as funding opportunities to private enterprises. Using a sample of northern and southern Mediterranean countries for the years 1985 to 2009, this study empirically assesses the reasons underlying such conditions.

AttachmentSizeHitsLast download
MEDPRO TR No 29 WP6 Ayadi.pdf502.34 KB456119 hours 55 min ago
Date of publication: 
Wed, 27/02/2013
Author(s): 
Rym Ayadi, Emrah Arbak, Sami Ben Naceur, Willem Pieter De Groen
Institutions: CEPS

Economic Impacts of Climate Change in the Southern Mediterranean

This report analyses the potential economic impacts of climate change on 11 southern and eastern Mediterranean countries through the effects of changes on the coastal ecosystem and on agriculture. The impacts are quantified through bottom-up studies assessing the consequences of the deterioration of the coastal ecosystem and protected areas for tourism arrivals, and the effects on yields of major crop families by mid-century. These data are then used as inputs into a world CGE model that quantifies the impact on GDP, sectoral production and prices.

AttachmentSizeHitsLast download
MEDPRO TR No 25 WP4a Bosello.pdf660.08 KB14022 days 19 hours ago
Date of publication: 
Thu, 07/02/2013
Author(s): 
Francesco Bosello, Fabio Eboli
Institutions: FEEM

The Relationship between Energy and Socio-Economic Development in the Southern and Eastern Mediterranean

This report aims to identify, explain and detail the links and interactions in Southern Mediterranean Countries (SMCs) between energy supply and demand and socio-economic development, as well as the potential role of energy supply and demand policies on both. Another related aim is to identify and analyse, in a quantitative and qualitative way, the changing role of energy (both demand and supply) in southern Mediterranean economies, focusing on its positive and negative impact on socio-economic development.

This report investigates:

AttachmentSizeHitsLast download
MEDPRO TR No 27 WP4b Bergasse.pdf931.97 KB61463 hours 47 min ago
Date of publication: 
Thu, 07/02/2013
Author(s): 
Emanuel Bergasse, Wojciech Paczynski, Marek Dabrowski, Luc Dewulf
Institutions: CASE