Tag Archives: development

Financial Inclusion and Stability in the MED Region: Evidence from Poverty and Inequality (report FEM44-01)

Despite a significant growth in profitability and efficiency, the Middle East (MED) well developed banking system seems to be unable to reach vast segments of the population, especially the underprivileged ones. To this end, the onus of policymakers in the region is to create effective opportunities for financial inclusion, and subsequently poverty and income inequality reduction. Whether they have succeeded in their endeavor is an empirical question we seek to address in this research project. Using Panel data, GMM and GLS econometric models, and a sample of six MED countries (Al GMM and GLS econometric models and a sample of six MED countries (Algeria, Egypt, Jordan, Lebanon, Morocco and Tunisia) over the period 2002-2018, this paper assesses empirically the impact of financial inclusion on income inequality, poverty, and financial stability in the MED region. While the empirical literature on the region is relatively scarce, this paper adds to that literature by bridging a significant existing gap, especially in the aftermath of the recent financial and debt crises and the recent political, social, and military turmoil that have been unfolding in several MED countries.

Our empirical results have shown that financial inclusion decreases inequality but has no significant effect on poverty. Inflation and population increase both inequality and poverty. Other empirical results have shown that the secondary enrollment ratio, female labor force participation and the trade openness variables are found to significantly affect poverty. While the empirical evidence indicates that enhanced financial integration is a contributing factor to financial instability, an increase in financial inclusion and in population contributes positively to financial stability. This study has also shown that greater access to financial services is positively contributing to the resilience of the banking system deposit funding base. This is particularly important during times of financial crises. Enhanced resilience of bank funding supports overall financial stability of the banking sector and the entire financial system. The latest debt and financial crises have shown that financial liberalization and inclusion in MED may not always be conducive to poverty reduction and financial stability improvements.

Our empirical findings have important policy implications. MED policy makers face tradeoffs when deciding whether to focus on reforms to promote financial development (financial inclusion, innovation, financial access, etc…) or whether to focus on further improvements in financial stability. However, synergies between promoting financial development and inclusion and financial stability can also exist. The results of this study could help foster a better policy to reform the financial sector by demonstrating how broadening the use of banking can have a direct impact on income distribution.

The recent and uncoordinated liberalization attempts have rendered MED financial and banking sectors more vulnerable to the recent financial and debt crises. In particular, the fast attempts to liberalize and financially integrate the Egypt, Jordan, and Morocco’s financial markets with the more mature markets of the United States and Europe has had devastating consequences on their banking sectors and stock markets.

When deciding on whether to focus on reforms to promote financial development (financial inclusion, innovation, access to financial services, etc.) and reduce poverty and income inequality, or on whether to focus on further improvements in financial stability, MED policy makers will have to bear in mind, the tradeoff that exits between financial liberalization and integration and financial stability. Carefully designed financial liberalization policies need to be timely introduced in order not to destabilize the financial system. Moreover, the latest debt and financial crises have shown that financial liberalization and development may not always be conducive to poverty and inequality reduction on the one hand, and to stimulate growth and development, on the other. On the contrary, and in many instances policies aimed at fostering financial development and innovations have triggered recessions and in many MED countries have had detrimental effects on growth and development and have further widened the gap between the rich and poor.

The MED region stands at a crossroad, with changes sweeping many of its countries and creating an environment conducive to financial and economic reform. Having missed a number of opportunities to reduce poverty and inequality, to introduce extensive financial and institutional reforms, and make substantial progress in financial inclusion, more effort still needs to be devoted in the future. The social movements in the region and the earlier series of financial crises have exposed the weaknesses of the adopted financial development model and have raised questions as to how to reshape financial policies most effectively and create the space to address the needs of everyone in society, reaching even the most deprived. The slow pace of financial development and liberalization policies adopted in most MED countries in the past has yielded a relatively acceptable level of economic growth and, in general, managed to meet the goals of economic and financial stability. Oil booms have generated acceptable growth rates, with oil-abundant MED countries delivering much more than those less developed. However, the impact of such economic and financial policy choices has not led to the desired outcomes in terms of human development, poverty reduction and financial stability. Growth has not been inclusive and has widened the gap between the rich and poor; a case in point is Egypt and Morocco. Indeed, in certain cases, financial liberalization has actually contributed to further financial instability. In light of a critical reassessment of the achievements and failures of MED countries, a new financial development approach should be adopted. This new model should be more holistic, integrating the financial and social spheres in combination with strong financial institutions. It is vital that MED policymaking should expand to accommodate these spheres and place them on equal footing in the service of a long-term rights-based financial developmental vision.

The new model will reconsider financial policies that incorporate developmental priorities and would thus achieve structural change. Financial policies will have to be reshaped to achieve not only financial stabilization, adjustment and economic growth, but to also trigger the transformation required to generate growth that is broad-based, inclusive and sustainable. Within this context, such policy tools as financial development and inclusion, and financial sector diversification and liberalization will have to be addressed. At the same time, financial policies should not shy away from meeting the same objectives as social policy under this new financial development paradigm, in which the interests and welfare of every person in society are the target. It is also of central importance to ensure that social policy goes hand-in-hand with financial development policies to bring about the required transformation and ensure inclusive financial and economic growth. While the social and financial spheres should interconnect to create synergies, this new financial development model will not achieve its goals if political and institutional reforms remain shallow. Finally, sustainable poverty and income inequality reduction requires an acknowledgement that politics, institutions, financial and socio-economic policies are intertwined and have an impact on each other. Synchronizing financial and social policies with institutional and political reform would bring about positive, sustainable change under a clearly defined financial development vision.

Early childhood development and inequality of opportunities in the Mediterranean

Early childhood is the most important time for human development. However, countries tend to under-invest in this stage of development, particularly in the Middle East and North Africa (MENA). Children are facing unequal opportunities to develop because of the circumstances of their birth. This project analyzes inequality of opportunity in early childhood development in three Southern and Eastern Mediterranean countries (Algeria, Morocco and Tunisia) and three countries from non-EU Eastern Europe (Bosnia, Serbia and Ukraine). The findings demonstrate that there is substantial inequality of opportunity starting early in life. A variety of circumstances impact early inequality, with wealth, mother’s education, and geographic differences all contributing substantially.

Med Change Makers e04 : Myriam BEN SAAD, Sophistication of productive systems and economic transition in MENA

FEMISE recently launched its new series of interviews called « Med Change Makers ».

« Med Change Makers » are text and video-based interviews that allow dynamic researchers of the FEMISE network to illustrate how their research addresses a policy-relevant question and how it contributes to the policy-making process in the Euro-Mediterranean region.



The sophistication of productive systems as a vector of economic transition in MENA countries and the role of short-term policies

Dr Myriam Ben Saad, Université de Toulon (LEAD), Université Paris Sorbonne, FEMISE

FEMISE has just published its research project FEM42-07, ”Complexification of production as a vector of economic transition and the role of short-term policies”, coordinated by LEAD, Université de Toulon.

Member of the project coordinating team, Dr. Myriam Ben Saad is one of the young FEMISE researchers who actively participates in the activities of the network.

Her work shows the importance of the economic complexity of a country to create more growth and jobs and sketch out clues for the future in the Southern Mediterranean countries.


  1. Your report addresses the issue of the sophistication of productive systems. Why is this issue important for the South of the Mediterranean? 

This question is crucial. We observe large economic disparities between countries, largely due to a low level of economic complexity. The latter is sometimes one of the main causes for which economic growth is limited in the Mediterranean. The productive structure of a country is also a decisive parameter, which explains the inequalities of development within a country. Finally, the productive structure can better predict future economic growth. Unfortunately, today we have very few elements on the models and rhythms of sophistication of the productive systems of MENA countries. Our report seeks to remedy that. We try to understand why some countries remain stuck in the intermediate complexity class and make recommendations to enable them to move towards an advanced complexity class that generates more growth and jobs.

  1. The need to develop innovative sectors is arising in the South. What is the best way to proceed according to your results? Do you have success stories to illustrate?

It is important to have appropriate trade policies to address market failures and especially institutional failures that block the competitiveness of exports. We therefore recommend that MENA countries commit themselves to a proactive strategy of export diversification by rethinking their commercial policy to make it a lever for promoting industrial development and structural transformation.

These countries would have an interest in orienting their policies towards national and regional development objectives by improving economic freedom, in particular through administrative simplification laws. This will contribute to the improvement of the business environment in relation to a labor market reform aimed at making it more flexible, transparent and competitive (labor law).

In addition, the development of innovative sectors (support to certain start-ups, to FDI, to the development of free zones or technological business zones) requires a tax incentive policy. This reminds me of the recent experience of a young Franco-Tunisian engineer, installed in a free zone, who managed to transform the production of fine salt into salt pellets. This productive transformation has not only led to the creation of several skilled and unskilled jobs but also to better dynamics and integration of the area.

  1. You stress the need to reform higher and vocational education. What do you propose as concrete solutions?

A plethora of tools could be put in place. In particular, it would be a question of reinforcing the adequacy of training in relation to new professions, developing partnerships with foreign universities (especially European, Asian or American), but also developing public-private partnerships and using the system of professionalised delocalised diplomas.

  1. Can an improved management of natural resources help to promote growth and employment in the South and how?

MENA countries have large reserves of natural resources, mostly non-renewable, among the largest in the world. Despite significant commercial exploitation of these resources, MENA countries remain one of the least known and least visible geological regions of the planet. If recent gas and oil discoveries are to be believed, the abundance of these resources would fund the MENA transformation agenda. Natural resources could make the difference if they were transformed.

Transformation can be achieved by implementing a range of “smart” structural policies, i.e using the benefits of natural resources to diversify and make the economy more sophisticated, develop industrial zones based on the comparative advantage in natural resources, improve macroeconomic policies to effectively manage the risks associated with the volatility of revenues from natural resources etc.

  1. In your opinion, what should the Southern States do in order of priority to accelerate this process of making their economies more sophisticated?

The past few years have been difficult ones for MENA countries, given the seriousness of the challenges facing this region. While the process of structural transformation has been in progress for the last two decades, it is clear that the process is still in its beginning in the region.

  • To become more sophisticated, improving the education and training system is the first challenge. The training of human capital, particularly through access to higher education (engineering), could facilitate structural change and productive modernization.
  • Improving the quality of institutions and economic and structural vulnerability is the second challenge. In this region, some countries find it difficult to implement measures to transform their productive structures because of persistent corruption, which erodes their capacity.
  • At the macroeconomic level, the first step would be to reduce the corporate tax system, especially for local investors. At the micro level, it would be more about launching new development programs and large-scale projects for young people who work in a company and want to invest in it.

Thus, the countries of the region must find collective and not individual solutions to conduct more favorable trade negotiations with their European trading partners, or even better open-up and conquer new markets, particularly the African market. To achieve this, the region will have to find sectorial complementarities to secure the competitiveness and values of the region at the international level.

The report is available for download by clicking here.

Interviewed by Constantin Tsakas

Innovative thoughts to unlock the potential of the private sector in MP’s

FEMISE-AUB Seminar on “Unlocking the Potential of the Private Sector in South Med Countries”, photo FEMISE

FEMISE organized a Policy Seminar on the theme of “Unlocking the Potential of the Private Sector in South Med Countries” on the 5th of December 2016, in Beirut, Lebanon. The seminar was organised in collaboration with our partners, the Institute of Financial Economics, at the American University of Beirut (AUB).

In three sessions and one roundtable discussion, speakers and participants  to the seminar were looking into finding the answers to three main questions:

  • One factual statement that needs validation: the private sector performance in the region is below potential and below the expectations. It is neither dynamic nor productive enough. Furthermore, it is not creating enough jobs.
  • What is preventing the private sector from reaching its potential? Two ideas are being advanced: macro and micro constraints.
  • What is the role of the international community to these regards?

Dr. Youssef El-Khalil (Central Bank of Lebanon), Dr Ahmed Galal (ERF, FEMISE), photo FEMISE

In the first session the speakers highlighted the macroeconomic challenges that are faced by the South Med Countries and which had implications on the development of the private sector. In Lebanon, Dr. Youssef El-Khalil, emphasized the role of the Lebanese Central Bank in stabilizing the economy going through different types of crises in the past 3 decades (i.e. war, political instabilities, refugees from neighbouring Syria). His main message was that the mandate of the Central Bank is not only about stable inflation or stable currency but that it has a social responsibility of promoting inclusive growth, through encouraging entrepreneurial activities and jobs creation among the young and the educated.

In Tunisia, facing the macroeconomic challenges and the lack of resources implied the adoption of two IMF programs (amounting $4.7 million) as explained by Dr. Sami Mouley (University of Tunis El Manar) (presentation available here). The programs aimed at providing stability to the economy and endorsing the financial and credit reforms. However, as the private sector development remained low, accompanying mechanisms directed towards the sector were put in place, these included regulatory reforms, stimulating better quality bank loans, floating the currency, etc.

Pr. Simon Neaime (AUB), Dr. Sami Mouley (Université de Tunis), photo FEMISE

The limited fiscal space and the implementation of fixed exchange rates regimes have negatively affected the efficiency of the Central Banks, according to Dr. Simon Neaime (AUB) (powerpoint presentation available here). Therefore, traditional stabilization monetary and fiscal mechanisms will be difficult to implement as they could lead to further imbalances. Therefore, Dr. Neaime favours alternative mechanisms such as reducing the size of the public sector and the public spending, while giving more room to the private sector. These mechanisms could be coupled with reform strategies that improve the expectations of the private sector. Linking the growth with the private sector development is an extremely important measure that must be considered for the South Med countries.


The second session was evolving around the obstacles that the private sector is facing and how to overcome them. An overview of these challenges provided by Prof. Patricia Augier (FEMISE), pointed out to the political instability, access to finance, corruption and inefficient infrastructure.

FEMISE-AUB Seminar on “Unlocking the Potential of the Private Sector in South Med Countries”, photo FEMISE

Following this, speakers from diversity of backgrounds spoke about their own experiences. The project entitled: “Enhancement of the Business Environment in the Southern Mediterranean – EBESM” was introduced by Marie Jo Char which had the objective of promoting the private sector in the region through engaging the entrepreneurs with the policy makers through constructive dialogues (presentation available here). The project, which has many different objectives, is a good example of how NGOs can have an important role to play in enhancing this sector through projects that involve the domestic institutions and using the funding of international donors. The EBESM is funded by the European Commission and the GIZ.

Dr. Khater abi Habib (Kafalat), photo FEMISE

In Lebanon, the SMEs have encountered many challenges for their development as the country was emerging from the war in the 90s. The establishment of Kafalat provided the guarantee necessary to secure loans for SMEs, which had a huge impact on developing this sector. Dr. Khater abi Habib (CEO of Kafalat) highlighted that they targeted specific sectors, which were believed to be most in trouble and whose contributions towards the economy were considered essential (agriculture, industry, tourism, tradition crafts and high tech). Other programs were later introduced by Kafalat that promotes innovate start-ups.

A different, but also successful experience was adopted in Morocco through the National Committee for Business Environment: a committee that was established by the Moroccan government to develop a dialogue between the public and the private sector with the aim to enhance the business environment (presentation available here). Since its creation in 2010, many institutional and regulatory reforms have been implemented through this committee which has benefited the private sector and which has made Morocco jump 60 places in its Doing Business Report ranking.

Complementing the macroeconomic and the microeconomic picture around the private sector development, the third session looked at the issue from an external perspective, that of the international Community.

“Unlocking the Potential of the Private Sector in South Med Countries”, photo FEMISE

Finding more innovative ways to sustain their partnership with the South Med countries is the European Commission new approach to be more responsive to the needs of this region. The revision the EU-Neighbourhood policy was a first step, which was followed by many others at different levels (Macro, Meso and Micro) through regional and bilateral cooperation. The Commission is providing support to the private sector through blending by engaging the Neighbourhood Investment Facility (NIF) in cooperation with financial institutions like the EIB, the EBRD and the EU member states bilateral agencies. Working on providing an enabling environment for the private sector has to go in parallel with policy dialogue, which was what Ms Malin Elander Oggero (The European Commission) explained during her elaborate presentation (powerpoint available here).

At the OECD, the MENA competiveness program has been established to provide support to the MENA region’s development. The approach adopted by the OECD is to compare policy experiences, identify problems, find common solutions to these problems and exchange good practices. These practices are transposed through recommendations and soft law advices and according to the country’s pace and institutional setup. In this way, the OECD is helping to setup an adequate policy framework that encourages the private sector development, while being attentive to its needs. Dr. Nicola Ehlermann (OECD) believes that while it is the government’s role to set the environment and framework for operation, the private sector needs to be involved through constructive dialogue.

Dr Ahmed Galal (ERF, FEMISE), photo FEMISE

The International Financial Cooperation (IFC) of the World Bank Group has adopted a model that serves the SMEs in the region through enhancing investments and providing recommendations. Dr. Marcel Rachid (IFC) explained that the SME finance group identified key important lessons learnt from successful experiences, which could be summarised as follows: developed strategies need to be specific for the country, there is a need to have the necessary infrastructure to ensure transparency, developing SMEs rating agencies and encouraging venture capital (VC) loans for the private sector is important to develop the sector.

At the end of the session, Emmanuel Noutary (ANIMA) pointed-out to some key challenges that he detected through his 10 years experience working with SMEs. Despite the resilience of the economies in the South Med countries, there is lack of efficiency (50% of FDI are in sectors that do not create enough jobs); R&D is at a low level and is dominated by the public sector; South-south integration is far from its potential; there is a lack of efficiency and coordination among institutions and agencies that deal with the private sector; there is lack of coordination between education, industrial and social policies. He also added that organizations such as ANIMA could fill the gap of linking private and policy makers and bring SMEs together to coordinate and benefit from spillover effects.

FEMISE-AUB Seminar on “Unlocking the Potential of the Private Sector in South Med Countries”, photo FEMISE

The final roundtable discussion evolved around the importance of ensuring: that the macroeconomic environment is balanced and encouraging for the private sector, the adoption of inclusive approaches to ensure the contribution of the whole society and that they take part in the distribution process, that we have a holistic approach to ensure that the adopted policies are encouraging the private sector, the importance of providing incentives to move from the informal to the formal markets. Dr. Galal (FEMISE) concluded by saying that we need to have the right balance between what economists propose as technical and social solutions and what politicians adopt as policies.

For a detailed transcript of the Policy Workshop, click here.


This event received financial support from the European Union through the FEMISE project on “Support to Economic Research, studies and dialogues of the Euro-Mediterranean Partnership”. Any views expressed in this seminar are the sole responsibility of the speakers.

Report on: “Elements for a Strategic Economic and Social Development of Tunisia in the Medium-Term”


Tunisie_Final_V4-coverThis publication is a novel study on the Tunisian economy which analyzes its main economic and social development vectors for the post-transition period. It also offers a social and economic reform program, supporting various macroeconomic framework scenarios.

The present work is sought to deepen the knowledge on the constraints to growth, macroeconomic and social balance in Tunisia and suggests a detailed strategy for the coming years. After the events of January 2011, it became necessary to gather and deepen the various works that had been conducted in order to see whether there is a consensus that allows guiding a medium term development policy, targeting key critical points and defining policy priorities.

It is clear that there is an agreement on the limits and difficulties of the current growth model, on the urgent need to prepare the conditions for a revival of the Tunisian economy and on getting in the next 10 years a boost that allows Tunisia to access a first class rank in emerging countries (with a growth rate of around 7% per year versus almost 4% obtained in the period 2000-2010 and 2% since then). However, operational policies are not sufficiently implemented because the urgency of the situation brought short-term solutions to maintain social peace. But many challenges lie in the details and every truly progressive measure involves heavy political choices that are difficult to implement.

It is this concern that motivates the detailed analysis in this work which, in a way, gathers the current economic and social thinking on Tunisia.

This work was carried out under the direction of Professor Chedly Ayari (Professor Emeritus of the University of Tunis El Manar) and Professor Jean Louis Reiffers (President of the Scientific Committee of the Institute of the Mediterranean – Marseille and of the Scientific Committee of Femise and Professor Emeritus of the University of Toulon). The scientific coordination of this work was carried out by Professor Sami Mouley (University of Tunis), in collaboration with a team of contributors that includes Tunisian and French university professors as well as FEMISE experts.

Download the whole report (only in French, pdf, 467p, 9.7MB)

Decentralization and Economic Performance in Selected South Mediterranean Countries

The project attempts to understand the specific nature of “State” and “Sub-state” relationships in Southern Mediterranean countries and its role in driving spatial economic and social disparities. The report is structured in three parts. The first part provides an overview of the literature on decentralization and regional development. The second part focuses on the political economy of the process of decentralization in the three selected south Mediterranean countries. To a large extent this part presents the key findings of the country studies completed under the research project. Three countries have been covered, namely Egypt, Morocco and Tunisia. The third part presents the findings of the econometric investigation of the relationship between proxies of regional performance and decentralization indicators. This part is a preliminary analytical attempt to understand the channels through which financial decentralization proxies such as the volume of local revenues or the share of central-state transfers in local revenues are interacting with socio-economic indicators such as unemployment rates and firms’ location across the national territory.

South Mediterranean countries have more centralized states when compared to other emerging and developing countries. The three countries (Egypt, Morocco and Tunisia) are unitary states with multiple layers in the sub-national administration. The three countries are endowed with a dual system of elected and appointed authority at each layer. The range of activities devolved to sub-national administration seems to be broader in Morocco and Tunisia compared to Egypt.

Before the collapse of Mubarak’s regime in Egypt, the National Democratic Party (NDP) dominated local popular councils, which led to poor checks and balances on the executive councils. The ex-military officials have been often appointed as heads of the Local Executive Councils (LECs). In Tunisia, Ben Ali’s ruling party (RCD) played a major role in local politics before revolution, which undermined potential benefits of decentralization. In Morocco, no single political party dominated local politics. Yet, the high number of political parties and the election mode adopted has led in many cases to fragmentation of local councils and unstable political alliances.

Decentralization in the three countries is handicapped by limited financial strength of local administration. The share of local administration spending in GDP is estimated to 4.6. Wages and other current costs dominate local spending. The three countries have poor local revenues due to limited fiscal decentralization. Local entities in the three countries suffer from an excessive dependence on the central government’s transfers. Despite multiple and sophisticated criteria used, the distribution of the central state transfers to local entities is questionable and does not fulfil its purposes. Regional disparities, although to a large extent explained by different regional initial conditions and unequal natural endowments; are exacerbated by public policies.

Empirically, the project investigates the specific impact of decentralization on economic and social outcomes. Data availability constrained the extent to which a more ambitious econometric exercise could be conducted. At this stage, the key conclusion of our econometric exercise is that the pattern of decentralization as it stands today in the countries investigated does not seem to affect neither regional unemployment rates nor firms’ location.

The Arab uprisings have liberated people’s voices including in remote areas usually forgotten or marginalized in national politics. The emerging political debate in the transition towards democracy in the south Mediterranean should lead to a new era in the relationships between the central state and the sub-national territories. Further research need to be conducted in order to determine the right mix, for each country, between providing incentives from better service delivery through political and fiscal decentralization while at the same time ensuring that the principle of national solidarity plays its role via central state transfers to adjust for regional disparities.

2010 Euromed Report: The Euro-Mediterranean Partnership at Crossroads

an-2010gbFEMISE has released its latest report on the Euromediterranean Partnership and the situation of the Mediterranean countries. The subject of this year’s report is focused on the factors circulation and human mobility.

To address these issues, this first part of the report is organized in 4 main chapters: (i) The first chapter aims to determine the effect and the remaining potential of the free trade area that was to be established in the framework of Barcelona process; (ii) The second chapter details the state of the capital flow mobility in the region, as well as its impact, especially in terms of volatility; (iii) The third chapter is devoted to give an overview of the current level of labour mobility in the Euromed region and some reflexion on the possibility of enhancing potential benefits; (iv) the fourth chapter proposes an overview of the human development in the Euromed region, with emphasis on the poverty and the level and determinants of inequalities.

In the second part, the report addresses the current situation of the south Mediterranean economies concerned, country by country.

Download the English version of the Report (271 pages – 4,8 Mo)

The Euro-Mediterranean Partnership at Crossroads
Table of Contents


Part one

Chapter 1. Impact of the Euro-Mediterranean Partnership 15 Years after Barcelona: What Do we Know ? What Can be done?

I. Main characteristics of the EU-MPs trade patterns since 1995

II. Quantitative assessments of the Euromed agreements : a survey and critical analysis

Chapter 2. Capital Flows In The Euro-Med Region

I. Introduction

II.Trends in Capital Flows in the MPs: 2004-2009

III. Capital Flows Impact, Volatility, and Contribution to Investment and Debt

IV. Policy Recommendations

Chapter 3. Mobility of Labour in the EU-Med: Potentials vs Constraints?


I. Mobility across the Mediterranean: Labour and Remittances

II. Impediments to a beneficiary migration process in the EU-Med region

III.Achieving the Potential benefits of Migration in the EU-Med: How?

Chapter 4: Review of poverty in the MPCs

I. Survey of poverty and human development in the Mediterranean region

II. Link between growth, inequalities and poverty in the region

III. The determining factors of inequalities in Mediterranean countries:

study of the role of sources of income, employment and commercial opening

IV. Conclusion


Part two – Detailed situation in MPs : country sheets