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VIII. FINANCIAL MARKETS AND GROWTH IN
THE MEDITERRANEAN: THE NEXT STEPS

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Recent research suggests a link between financial market development and economic growth. One of the requirements for faster and more equitable growth is however further development and refinement three dimensions of financial-market development. These include: capital inflows and how to establish the conditions that will ensure the sound use of this capital; long-term finance and what it takes to develop long-term lending capabilities; and micro-banking and how can financial markets be democratized so that small entrepreneurs have better access to capital.

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Topics Covered in This Section

Long-Term Finance
Gerard Caprio, Research Manage, World Bank

Managing Capital Flows in the MENA Region:
Observations from the Front Line

Nasser Saidi, First Vice Governor, Banque du Liban, Lebanon

Sustainable Banking with the Poor
Lynn Bennett, Sector Manager of Social Development, World Bank
Carlos E. Cuevas, Senior Financial Specialist, World Bank

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Voices of MarrakechTable of ContentsPrefaceDefinitions and Terms
IntroductionMeeting the Challenges of PovertyNew Focus on Education ReformFiscal Decentralization (Discussion)Fostering Productivity and International Competitiveness
Labor Market Policies and Labor UnionsGlobalization: Challenges and OpportunitiesFinancial Markets and Growth in the MediterraneanModernizing TelecommunicationsMaster Lectures
MDF II - 1998WBI/World Bank

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