Financial Integration : A Focus on the Mediterranean Region

edited by Marga Peeters, Nidal Sabri, Wassim Shahin

The Arab upheaval and the world's biggest financial crisis after the Great Depression were almost simultaneous in their occurrence. The Mediterranean economies now face a dual challenge of a political and financial restructuring in the light of a shaky economic pedestal on which they stand. In light of this socio-political and economic shift in both inland and in world markets, this book offers a thorough analysis on problems, prospects and the way ahead for the financial integration of the South-Mediterranean region. Several perspectives on financial integration and policy recommendations are put forward from a leading group of researchers specializing on the Mediterranean region

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Year of publication:	2013
Authors:	Peeters, Marga
Other Persons:	Sabri, Nidal (ed.) ; Shahin, Wassim (ed.)
Publisher:	Berlin : Springer-Verlag
Subject:	Finanzmarkt \| Financial market \| Marktintegration \| Market integration \| Finanzsektor \| Financial sector \| Wirtschaftsintegration \| Economic integration \| Mittelmeerraum \| Mediterranean region \| Mittlerer Osten \| Middle East \| Nordafrika \| North Africa \| Kreditmarkt \| Geldpolitik \| Wirtschaftliche Integration
Description of contents:	Introduction -- Monetary Policy Issues -- Fiscal Issues -- Financial Markets -- Banking -- Social Aspects and Trade Integration Description [deposit.dnb.de]

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Extent:	Online-Ressource (VIII, 234 p. 30 illus, online resource)
Series:	Financial and Monetary Policy Studies ; 36 SpringerLink / Bücher
Type of publication:	Book / Working Paper
Language:	English
Notes:	Description based upon print version of record A Focus on the Mediterranean Region; Acknowledgement; Contents; Part I: Introduction; Chapter 1: Introduction; 1.1 Financial Integration; 1.2 A Focus on the Mediterranean; 1.3 The Outline of This Book; References; Part II: Monetary Policy Issues; Chapter 2: Prospects for Monetary Coordination in the Mediterranean Region: More or Larger Monetary Unions?; 2.1 Introduction; 2.2 Convergence Towards a Monetary Union: EMU, GCC and the Convergence Criteria; 2.3 Monetary Policy and Exchange Rate Arrangements; 2.4 Coordination Between MENA Countries, GCC and EMU: Convergence Criteria and Obstacles 2.5 ConclusionReferences; Chapter 3: Foreign Exchange Reserves´ Accumulation and the Impact on the Economies of Algeria and Tunisia; 3.1 Introduction; 3.2 Accumulation of Foreign Exchange Reserves; 3.2.1 The Extent; 3.2.2 Analysis at the Level of the Global Economy; 3.2.2.1 Protection Against Financial Speculation and Sovereign Debt Crises; 3.3 How Do Arab Countries Use These Funds?; 3.3.1 Arab SWFs; 3.3.2 The Algerian Income Regulation Fund (FRR); 3.4 Theoretical Framework and Empirical Facts of the Foreign Exchange Reserves Accumulation; 3.4.1 Incentives Behind Hoarding Behaviour 3.4.2 Are Foreign Exchange Reserves Excessive in Algeria and Tunisia?3.4.2.1 The Benchmarks; 3.5 MENA Region: FOREX Reserves Accumulation and Financial Background; 3.5.1 Banking Reforms, Openness and Growth; 3.5.2 Lack of Financial Investment Opportunities; 3.6 Conclusion: What Is the Alternative to FOREX Reserves Accumulation?; References; Chapter 4: Are International Food Price Spikes the Source of Egypt´s High Inflation?; 4.1 Introduction; 4.2 Inflation and Monetary Policy in Egypt; 4.2.1 Inflation Measures: A First Look; 4.2.2 Monetary Policy in Egypt; 4.3 Literature Review 4.4 The Models´ Set-Up and Data Properties4.4.1 Empirical Models; 4.4.1.1 The Two-Step OLS Regression Model; 4.4.1.2 The VAR Baseline Model; 4.4.2 Data; 4.5 Results; 4.5.1 Long-Term Pass-Through Coefficients; 4.5.2 Short-Run Dynamics; 4.5.2.1 Impulse Response Functions; Robustness Checks; 4.5.2.2 Sources of Inflation: Variance Decomposition Analysis; 4.6 Conclusion and Policy Inferences; Annex 1: Data Description and Sources; Annex 2: Unit Root Tests; Annex 3: Lag Length; References; Part III: Fiscal Issues Chapter 5: Coordinating Taxation Between the European Union and Other Countries Through Advance Tax-Rulings Systems5.1 Introduction; 5.2 Advance Binding Rulings Systems; 5.2.1 Possible Regional and Global Harmonization (Centralization) of Advance Tax-Rulings Systems; 5.2.2 The Reasons for Harmonizing Tax-Rulings Systems; 5.3 Similarities with Advance Pricing Agreements; 5.4 Croatian Legislative Framework and Advance Ruling System; 5.5 Concluding Observations; References; Chapter 6: The Role of Taxation in the Mediterranean Financial Integration; 6.1 A Crossroad Area in a Tax Law Perspective 6.2 European (Direct) Taxation Law
ISBN:	978-3-642-35697-1 ; 978-3-642-35696-4
Other identifiers:	10.1007/978-3-642-35697-1 [DOI]
Classification:	Nordafrika ; Investition, Finanzierung
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014016721