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Other titles in the Mena Development Report series:

Financial Access and Stability: A Road Map for the Middle East and North Africa (Mena Development Report)


Financial Access and Stability: A Road Map for the Middle East and North Africa (Mena Development Report) Cover


Synopses & Reviews

Publisher Comments:

The countries of the Middle East and North Africa (MENA) have been recovering from the global financial crisis, but the recent political turmoil has interrupted the pace of credit and output recovery in many countries. The political turmoil in the MENA region reveals deep-seated frustrations and a sense of political, social, and economic exclusion, especially among the youth. The relatively weak growth performance reflects a combination of insufficient reforms and weak reform implementation, including financial sector reforms. The structural weaknesses of financial sectors imply that access to finance may remain restricted even with a full recovery of credit activity. Therefore, the region 's countries face an ambitious reform agenda to revert two decades of relatively poor performance of output and employment growth. Financial development should be a central component of the region 's growth agenda. This study reviews the region 's financial systems, the severity of the limitations on access to finance, and the main factors behind such limitations. It goes on to provide a road map for expanding access and preserving financial stability.

Book News Annotation:

This report from the World Bank examines the financial development in the Middle East and North Africa (MENA) region and ways to expand access to more diversified, competitive, and inclusive financial systems, particularly in light of the political turmoil of early 2011. The report argues that MENA's financial systems contributed to the turmoil by failing to provide affordable access to finance to large parts of the enterprise and household sectors. It reviews the main causes of unsatisfactory growth and employment performance, the region's broader growth agenda and role of financial development, and the size and structure of the financial systems, showing how most are excessively bank-based and undiversified, as well as outlining indicators showing that access outcomes have been poor in comparison to other regions. It then outlines a roadmap for expanding access to small and medium enterprise, consumer, micro, housing, and investment finance, with reforms in financial infrastructure, including credit reporting systems, collateral regimes, and insolvency regimes; banking regulation to improve competition and preserve financial stability; and in promoting the development of nonbanking institutions, markets, and instruments such as the insurance and pension sectors and government debt markets. No index is included. Annotation ©2011 Book News, Inc., Portland, OR (booknews.com)

Product Details

Rocha, Roberto Rezende
World Bank Publications
The World Bank
Business-Accounting and Finance
Economics - General
Publication Date:

Related Subjects

Business » Accounting and Finance
Business » Banking
History and Social Science » Economics » General
History and Social Science » Politics » General
Science and Mathematics » Mathematics » Geometry » General

Financial Access and Stability: A Road Map for the Middle East and North Africa (Mena Development Report) New Trade Paper
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Product details pages World Bank Publications - English 9780821388358 Reviews:
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