Abstract
This chapter presents future scenarios of the financial system development in SEMC. If the analyzed countries adopt the best European practices, bank credit to the private sector, banks’ meta-efficiency and stock market turnover could reach much higher levels, although they would be still lower than the best performers in Europe. More specifically, we find that improving the quality of institutions, increasing per capita GDP, further opening capital accounts, and lowering inflation are necessary before financial systems in the SEMC are able to converge with those of Europe.
Cite
CITATION STYLE
Ayadi, R., Arbak, E., Naceur, S. B., & De Groen, W. P. (2015). Financial sector development scenarios. In Economic and Social Development of the Southern and Eastern Mediterranean Countries (pp. 235–249). Springer International Publishing. https://doi.org/10.1007/978-3-319-11122-3_15
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