Monetary policies and international standards and norms on banking regulations have, once again, come to the forefront of the policy discussion in developed nations due to the recent crisis
in the world’s financial markets. This discussion is far from new, nor does it apply exclusively to the world’s most advanced economies. A stable monetary policy and a sound and well-enforced
regulatory regime can help developing nations channel financial resources more efficiently into investments. For open economies it can also act as a buffer, an important stability factor in
today’s shaky market environment.
This book assesses the challenges facing monetary policies and the independence of central banks. It explores banking systems and examines the impact of monetary policy and banking sector
regulations on bank efficiency and economic growth in the Southern and Eastern Mediterranean, at the same time investigating the level of convergence of regulatory practices and efficiency to
EU Mediterranean standards.
