The Changing Financial Landscape : Opportunities and Challenges for the Middle East and North Africa

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dc.creatorGrais, Wafik
dc.creatorKantur, Zeynep
dc.date2014-05-06T16:14:37Z
dc.date2014-05-06T16:14:37Z
dc.date2003-05
dc.date.accessioned2026-07-01T01:27:36Z
dc.descriptionEconomists have come to acknowledge that finance matters for development more, and in more ways than had been recognized for a long time. Changes in the financial services industry are providing immense possibilities for economic development. Grais and Kantur present a framework to help understand the changes occurring in the financial landscape. They also attempt to lay out the opportunities and the challenges the Middle East and Northern Africa region faces in light of these changes. The framework views financial development as a two-way, continuous, and dynamic interaction between, on the one hand, three driving forces shaping the industry and, on the other hand, four stylized dimensions of financial services. These driving forces jointly modify the financial landscape and are at the same time influenced by the effects of these changes. The three driving forces are financial liberalization, technological changes, and market innovation in response to demands for financial services. The four dimensions of financial services that are altered by the forces at play are disintermediation, institutionalization, modernization, and globalization. The authors provide a strategic perspective on the opportunities and challenges the profound changes in the financial industry bring to the Middle East and North Africa region, its policymakers, and market participants.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2003/05/2360831/changing-financial-landscape-opportunities-challenges-middle-east-north-africa
dc.identifierhttps://hdl.handle.net/10986/18188
dc.identifierhttps://doi.org/10.1596/1813-9450-3050
dc.identifier.urihttp://hdl.handle.net/123456789/418282
dc.languageEnglish
dc.languageen_US
dc.publisherWorld Bank, Washington, DC
dc.relationPolicy Research Working Paper;No. 3050
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectAGRICULTURE
dc.subjectBANKING SECTOR
dc.subjectBANKING SYSTEM
dc.subjectBANKING SYSTEMS
dc.subjectBOND MARKETS
dc.subjectBONDS
dc.subjectBORROWING
dc.subjectCAPITAL BASE
dc.subjectCAPITAL FLOWS
dc.subjectCAPITAL MOBILITY
dc.subjectCAPITALIZATION
dc.subjectCENTRAL BANK
dc.subjectCENTRAL BANKS
dc.subjectCOMMERCIAL BANKS
dc.subjectCONSOLIDATION
dc.subjectCONSUMERS
dc.subjectCONTAGION
dc.subjectCONTRACTUAL SAVINGS
dc.subjectDEBT
dc.subjectDEPOSITS
dc.subjectDERIVATIVES
dc.subjectDEVELOPMENT POLICIES
dc.subjectDISINTERMEDIATION
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC PERFORMANCE
dc.subjectECONOMICS
dc.subjectECONOMISTS
dc.subjectEMERGING MARKETS
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATES
dc.subjectFACE VALUE
dc.subjectFACTORING
dc.subjectFINANCIAL DEREGULATION
dc.subjectFINANCIAL INDUSTRY
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INTERMEDIARIES
dc.subjectFINANCIAL INTERMEDIATION
dc.subjectFINANCIAL LIBERALIZATION
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL SERVICES
dc.subjectFINANCIAL STABILITY
dc.subjectFINANCIAL SYSTEMS
dc.subjectFOREIGN BANKS
dc.subjectFOREIGN COMPETITION
dc.subjectFOREIGN ENTRY
dc.subjectGDP
dc.subjectGLOBALIZATION
dc.subjectGROWTH RATE
dc.subjectHOUSING
dc.subjectHOUSING FINANCE
dc.subjectHUMAN CAPITAL
dc.subjectINCOME
dc.subjectINFORMATION ASYMMETRIES
dc.subjectINSTITUTIONAL CHANGE
dc.subjectINSURANCE
dc.subjectINSURANCE AGENTS
dc.subjectINSURANCE COMPANIES
dc.subjectINTEREST RATE
dc.subjectINTEREST RATES
dc.subjectISLAMIC BANKING
dc.subjectLABOR MOBILITY
dc.subjectLEGISLATION
dc.subjectLENDING PRACTICES
dc.subjectLIQUIDATION
dc.subjectLIQUIDITY
dc.subjectLONG TERM ASSETS
dc.subjectMACROECONOMIC STABILITY
dc.subjectMARKET ECONOMIES
dc.subjectMARKET LIBERALIZATION
dc.subjectMERGERS
dc.subjectMONETARY POLICIES
dc.subjectMONOPOLIES
dc.subjectMORTGAGE BACKED SECURITIES
dc.subjectMORTGAGE MARKETS
dc.subjectMORTGAGES
dc.subjectMUTUAL FUNDS
dc.subjectPENSION FUNDS
dc.subjectPOLICY MAKERS
dc.subjectPORTFOLIOS
dc.subjectPRIVATE BANKS
dc.subjectPRIVATIZATION
dc.subjectPRUDENTIAL REGULATIONS
dc.subjectPUBLIC FINANCE
dc.subjectPUBLIC POLICY
dc.subjectREGULATORY FRAMEWORK
dc.subjectRISK MANAGEMENT
dc.subjectSAVINGS
dc.subjectSECURITIES
dc.subjectSECURITIZATION
dc.subjectSMALL BUSINESS
dc.subjectSPECIALIZED BANKS
dc.subjectSTATE INTERVENTION
dc.subjectSTOCK EXCHANGES
dc.subjectSTOCK MARKETS
dc.subjectSUBSIDIARIES
dc.subjectSUPERVISORY AGENCIES
dc.subjectTAXATION
dc.subjectTECHNOLOGICAL CHANGE
dc.subjectTELECOMMUNICATIONS
dc.subjectTRANSACTION COSTS
dc.subjectTREASURY BILLS
dc.subjectUNIVERSAL BANKING
dc.subjectUNIVERSAL BANKS
dc.subjectVALUE ADDED
dc.subjectVENTURE CAPITAL
dc.subjectWELFARE GAINS
dc.subjectWTO FINANCIAL SERVICES
dc.subjectFINANCIAL DEVELOPMENT
dc.subjectFINANCIAL LIBERALIZATION
dc.subjectTECHNOLOGICAL CHANGE
dc.subjectMARKET INNOVATIONS
dc.subjectMODERNIZATION
dc.subjectGLOBALIZATION
dc.subjectINSTITUTIONAL CHANGE
dc.subjectBANKING SYSTEMS
dc.subjectMICROFINANCING
dc.subjectCREDIT EXPANSION
dc.subjectINSURANCE INDUSTRY
dc.subjectMARKET PENETRATION
dc.subjectACCESS TO INFORMATION
dc.subjectFINANCIAL PRODUCTS
dc.subjectTRANSACTION COSTS
dc.subjectINTERNATIONAL STANDARDS
dc.subjectREGULATORY FRAMEWORK
dc.subjectCAPITAL FLOWS
dc.subjectFINANCIAL SERVICES
dc.subjectWTO
dc.titleThe Changing Financial Landscape : Opportunities and Challenges for the Middle East and North Africa

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