A quantitative and qualitative macroeconomic and sociopolitical outlook of the MEDA transitional economies: development-paths, governance climate, and sociocultural factors

Abstract

We present a quantitative and qualitative macroeconomic and sociopolitical outlook of the South-East Mediterranean transitional economies (MEDA), aiming to understand their development challenges and growth potential. We used various analytical techniques integrated in this study, including macroeconomic indicators, SWOT analysis, clustering, Markovian chains, investment development-path, and sociocultural factors. MEDA countries differ principally due to varying levels of oil dependence, underdeveloped manufacturing systems, and high unemployment rates. Despite various efforts, institutional deficiencies and a lack of governance persist, hindering countries’ growth and attractiveness. Finally, the importance of international cooperation, particularly with the European Union, to support MEDA transitional economies in addressing governance issues, enhancing human development, and fostering internal stability is highlighted.