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In recent years, Mediterranean Partner countries (MPCs) have been ambitious about reforming their banking and financial systems. Former state‐owned banks have been privatised, and restrictions for international capital flows have been lowered to accelerate investment activities and spur regional economic growth. The purpose of this paper is to evaluate these latest developments against the backdrop of the state‐of‐the‐art literature and derive implications for a reformed institutional setting for sound financial market governance in the Mediterranean region.

Building on recent empirical literature on the relationship between financial development, financial governance, and economic growth, this paper empirically assesses the validity of the so‐called finance‐growth nexus for Mediterranean Partner countries.

The findings indicate that the current institutional set‐up renders an efficient allocation of savings impossible, and thus represents a strong binding constraint on economic growth. In this regard, it is found that adverse financial governance practices have substantially contributed to this outcome.

This paper argues for upgrading domestic regulatory frameworks before continuing a sequential integration and liberalisation process.

It is thought that this attempt is unique in explicitly formulating a comprehensive role for the Euro‐Mediterranean Partnership (EMP) in assisting MPCs on financial governance issues. In this respect, it identifies prevailing incentive schemes for regional actors and opportunities for the EU to actively support the implementation of a reform agenda for financial institutions in the EMP framework.

The paper presents how public‐private cooperation schemes can successfully assist in the implementation of contemporary urban development policies, focusing mainly on the guidelines set by the European Union as well as the cases of three Mediterranean countries: Italy, France and Greece.

The paper approaches the issue of private financing in urban development by analyzing the main advantages of public‐private partnerships, the terms under which these co operations can be successful, as well as the way in which some national authorities in the Euro‐Mediterranean area have attempted to implement PPPs.

Mediterranean countries are lacking relatively behind concerning the adoption of public – private partnerships for urban development projects. This paper states that public‐private financing schemes have the potential of becoming an important tool for promoting urban regeneration in combination with respecting the principle of sustainability.

Attempts to encourage public policy makers and local authorities in particular to undertake relevant actions in order to promote partnerships with private institutions in the field of urban development.

Provides information on how private financing of urban development projects is being adopted in Southern Europe, thus presenting the different approaches undertaken by each of the countries in question (Italy, France and Greece) in relation to their legislative and administrative and cultural background.

Compares Palestine and Cambodia with respect to the involvement of NGOs in generating sustainable development. Both countries have suffered war and both still struggle for a fragile peace; success appears to hinge on the international community’s ability to achieve economic development and real social and political improvements. Results can be achieved through: co‐operation between donor services and local authorities, using assistance to increase local entrepreneurship, economic independence and active participation; making formal agreements between NGO and local authorities as to duties and remit of the aid operations; establishment of a workable accountability system; formation of a structured co‐ordination framework; and using UN agencies more frequently and extensively.

Building industrial clusters is getting much more political attention and strategic orientation in all developing countries. This study started by revising the conceptual and theoretical frameworks for industrial clusters, followed by some insights and contributions about empirical bases for clusters' dynamics and processes. The study focused on the case of Agadir Agreement between four Arab countries (Egypt, Jordon, Morocco, and Tunisia), which was initiated after the Euro-Mediterranean partnerships, and the rationale of the agreement was based on the concept of cumulative value-added origin. The study based its methodology on analyzing the international and bilateral trade flows of six industrial goods from the automotive sector among the four countries and with the EU countries to detect the degree of industrial collaboration and the achieved success of each country in this sector. The study indicated that the four countries used the concept of industrial clusters for economic development, but the results of the analysis showed that till now Agadir Agreement only achieved a shallow integration, while failed to deeply integrate as one big collaborative industrial cluster.

The purpose of this paper is to outline how the EU figures out the importance of strengthening its relations with Egypt as one of the most strategic countries in the region to keep the union secured and stable. The paper also assesses to what extent the EU succeeds to promote democracy in Egypt.

The EU pursues its policy through a series of both bilateral and multilateral agreements with Egypt aiming at positioning their relations in a strategic context. The research adopted different approaches as descriptive and analytical ones.

Following the Arab uprisings, the EU was caught by surprise and announced a paradigm shift in its relations and introduced a set of policies to foster democracy promotion that witnessed some successes but with extremely modest results in some areas compared to the costs of the process. The EU succeeded in important reforms in trade liberalization while it did not bring clear changes in the political arena in Egypt.

The findings of this paper convey that the Arab uprisings were a wake-up call for the EU. It was the right time for the EU to conduct such a strategic and sincere reflection based on the role it wants to play in the changing region. In addition, findings prove that the EU’s response to revolutionary events has been weak and hesitant, and the EU has not an effective role in promoting democracy in Egypt.

This paper aims to present some challenging issues concerning urban space management in the Mediterranean region, with a special focus to sustainability.

It is structured around the outcomes of the SB05MED International Conference titled “Sustainable Construction: Action for Sustainability in the Mediterranean Region,” held in Athens in June 2005, which is the main subject of this special issue. It will present the main outcomes related to existing approaches of environmental quality in buildings as well as methodologies, policies and standards for environmental quality in buildings and cities. Furthermore, it will present future trends and explore the current situation of projects, systems and operations, as well as performance assessment tools and financial instruments and mechanisms towards sustainable construction in the Mediterranean region. Each major scientific topic is presented and analysed. Finally, a synthesis of outcomes is presented.

The paper demonstrates the links between developments in the field of sustainable building in the Mediterranean region and relates them with future developments and perspectives at a macro‐regional level.

This overview paper can be used as the starting point of future research as well as a reference paper.

Discusses the coming enlargement of the European Union by ten states, which also increases the population from 378 million to 483 million (if Bulgaria and Romania are also accepted in 2007). Notes that because of their membership, the new members will pay the price of reduced access to former trading partners and borders of new Member States will open up west and north, although some customs’ revenue will disappear there will be EU budget transfers to compensate.

This paper proposes a new multi-dimensional financial inclusion index.

The authors employ two-stage principal component analysis (PCA) and aggregating indicators of availability, access and use. The paper first assesses the cross-country variations in the index and analyses trends over time for a sample of countries members of the Union for the Mediterranean (UfM) from 2010–2018. Second, it investigates factors that could explain the level of financial inclusion across countries.

The financial inclusion index shows a downward trend for the full sample over the period under investigation; however when splitting the sample by income group, it appears that high- and middle–income countries did not register the same trend. When examining the determinants of financial inclusion for the UfM countries, the authors find that macroeconomic, social and governance factors, as well as banking conditions, matter. Policy-makers in low- and middle-income economies should consider the importance of digital financial inclusion, which is substituting the role to traditional banking system, to close the gap and accelerate its development.

First, the authors provide a new measure of financial inclusion using a three-dimensional index: availability, access and use, for which weights are assigned using PCA. It uses data available for the UfM sample by combining data from different databases in order to include most indicators considered in the literature, as the majority of studies only use single measures (number of bank branches, ownership of a bank account, ratio of credits or deposits to gross domestic product [GDP], etc.). Second, by focussing on UfM countries, the study covers a region that includes both large developed and small developing economies that are connected via financial and trade ties, whilst previous studies generally give global evidence from an international sample with little or no economic ties. Third, splitting the sample by country income groups, the paper presents a more comprehensive representation of the cross-country variation in financial inclusion levels between high- and middle-income economies for this region.

The world economy is a network of individual states and regional groupings of countries which are interlinked by trade in cross‐border goods and services, movements of factors of production (labour and especially capital) and financial flows. The intensity of these international linkages has grown in absolute and relative terms (related to GDP) after World War II and especially in the 1990s. After the collapse of the communist systems and in view of a worldwide political trend towards deregulation and liberalisation, increasing globalisation has become a widely debated phenomenon. One difference between the 1990s and previous periods is the increasing internationalisation of production through networks of transnational corporations (TNCs).