Financial services and capital markets (Work Package 6)
Financial services and capital markets are at the heart of economic transition as was clearly stated at the 12th Euro-Mediterranean Conference on Economic Transition. A sound financial system can spur growth by mobilizing savings, providing funds for infrastructure development and private firms, improving the allocation of resources facilitating risk management and trade as well as enhancing corporate governance practices. Such a system is particularly important for the growth of small and medium-sized enterprises (SMEs), which represent an important source of activity but lack the internal sources to grow. The capital markets in the MED 11 countries are relatively underdeveloped and external financing needs are met almost entirely through bank loans. This work package will provide quantitative and qualitative prospective analysis of the financial services sector and capital markets development, using all available international and national sources in order to assess the potential for further growth and integration in financial services sector.
The leader of this work package is Dr. Rym Ayadi from the Centre for European Policy Studies (CEPS), European research center with strong track record in financial markets research.
