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This paper studies the causes of the low development of the insurance sector in the Middle East and North African (MENA) region, particularly for long term insurance. The paper shows that life and non-life premiums, as well as assets, are very low relative to expected levels given per capita income and demographic characteristics, and examines the causes of such poor performance. There is a wide range of factors constraining the development of the industry, including the absence of mandatory insurance in key areas, the predominant presence of the state in some countries, gaps in regulation and supervision, unsupportive tax regimes, fragmented market structures, a chronic lack of suitably skilled people, as well as the absence of products that conform with cultural/religious preferences, especially in the case of life insurance. The lack of development of the insurance sector is a matter of concern, as research shows that the sector can contribute to both financial and economic development. Key recommendations to accelerate the development of the sector include wider introduction of mandatory insurance lines that have clear positive externalities, continuing the privatization process for government owned insurers, employing non capital techniques to force rationalization of insurance sectors with too many small and inefficient players, removing tax distortions, taking steps to stabilize motor third party liability markets (typically the largest line of business), strengthening reporting and disclosure, regulating banc-assurance, improving consumer protection, further developing Takaful long term insurance ('Family Insurance'), and establishing regional centers of excellence for skills development.

Climate Change Economics --- Debt Markets --- Emerging Markets --- Finance and Financial Sector Development --- Human Capital --- Insurance & Risk Mitigation --- Insurance Law --- Insurance Market --- Insurance Sector --- Mandatory Insurance --- Private Sector Development --- Takaful Insurance --- Middle East and North Africa (Mena) Region

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Among the principal constraints for SME lending is the lack of SME transparency, poor credit information from credit registries and bureaus, and weak creditor rights. If constraints can be addressed, lending can potentially reach bank targets of 21 percent. State banks still play an important role in financing SMEs in the MENA region, but they use less sophisticated risk management systems than private banks. On another hand, credit guarantee schemes are a popular form of support to SME finance in the region, and are associated with higher levels of SME lending. The paper concludes that MENA policy makers should prioritize improvements in financial infrastructure, including greater coverage and depth of credit bureaus, improvements in the collateral regime (especially for movable assets), and increased competition between banks and also non-banks. Weaknesses in insolvency regimes and credit reporting systems should also be alleviated. Direct policy interventions through public banks, guarantee schemes, lower reserve requirements and subsidized lending and other measures have played a role in compensating for MENA's weak financial infrastructure, but more sustainable structural solutions are needed.

World Bank --- Access to Finance --- Bank Lending --- Bankruptcy and Resolution of Financial Distress --- Banks & Banking Reform --- Debt Markets --- Enterprise-Level Surveys --- Finance and Financial Sector Development --- Financial Intermediation --- Private Sector Development --- Small and Medium Sized Enterprises (SMES) --- Middle East and North Africa (Mena) Region

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Several problems related to violence, grievances, and states’ lack of legitimacy and capacity to manage economic, social, and political issues are clustered together as an interactive structure in the Middle East and Northern Africa (MENA) region. The effect of one of these problems is difficult to identify in the absence of analyses of the others. Global generalisations on the effects of these problems can bring us closer to the understanding of state fragility and the associated problems in the MENA region, although the study of MENA specifically also reveals region- and sub-region-specific features. Some of them pertain to the MENA region only, whereas others help develop the understanding and sophistication of global generalisations. This book offers a much-needed overview and several explanations on the otherwise confusing triangular problems of state fragility, grievance, and conflict, focusing on one of the conflict hotspots of the world. It compiles expertise on the triangular relationship between fragility, grievances, and conflict of an international MENA Social Policy Network. In addition to the analyses, two datasets are referenced, on which some of the book’s chapters are based.

Humanities --- Social interaction --- state fragility --- conflict --- MENA --- Middle East --- failed states --- weak states --- conflict fatalities --- corruption --- informal employment --- social security --- state effectiveness --- Maghreb countries --- individual preferences --- discrete choice model --- Arab Spring --- participation --- protesting --- probit model --- Iraq --- terrorism --- violent extremism --- Social Identity --- threat --- fragmentation --- grievances --- Shia --- Sunni --- factionalism --- rebel governance --- Hamas --- Gaza --- Palestine --- informal institutions --- social contract --- social protection --- Middle East and North Africa --- state–society relations --- protection --- provision --- government legitimacy --- service delivery --- state legitimacy --- social policy --- social expenditure --- mediation --- PH theory --- Israel --- ripeness --- subsidy reform --- Middle East and North Africa (MENA) --- Morocco --- Egypt --- Iran --- political participation --- n/a --- state-society relations

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Several problems related to violence, grievances, and states’ lack of legitimacy and capacity to manage economic, social, and political issues are clustered together as an interactive structure in the Middle East and Northern Africa (MENA) region. The effect of one of these problems is difficult to identify in the absence of analyses of the others. Global generalisations on the effects of these problems can bring us closer to the understanding of state fragility and the associated problems in the MENA region, although the study of MENA specifically also reveals region- and sub-region-specific features. Some of them pertain to the MENA region only, whereas others help develop the understanding and sophistication of global generalisations. This book offers a much-needed overview and several explanations on the otherwise confusing triangular problems of state fragility, grievance, and conflict, focusing on one of the conflict hotspots of the world. It compiles expertise on the triangular relationship between fragility, grievances, and conflict of an international MENA Social Policy Network. In addition to the analyses, two datasets are referenced, on which some of the book’s chapters are based.

Humanities --- Social interaction --- state fragility --- conflict --- MENA --- Middle East --- failed states --- weak states --- conflict fatalities --- corruption --- informal employment --- social security --- state effectiveness --- Maghreb countries --- individual preferences --- discrete choice model --- Arab Spring --- participation --- protesting --- probit model --- Iraq --- terrorism --- violent extremism --- Social Identity --- threat --- fragmentation --- grievances --- Shia --- Sunni --- factionalism --- rebel governance --- Hamas --- Gaza --- Palestine --- informal institutions --- social contract --- social protection --- Middle East and North Africa --- state-society relations --- protection --- provision --- government legitimacy --- service delivery --- state legitimacy --- social policy --- social expenditure --- mediation --- PH theory --- Israel --- ripeness --- subsidy reform --- Middle East and North Africa (MENA) --- Morocco --- Egypt --- Iran --- political participation --- state fragility --- conflict --- MENA --- Middle East --- failed states --- weak states --- conflict fatalities --- corruption --- informal employment --- social security --- state effectiveness --- Maghreb countries --- individual preferences --- discrete choice model --- Arab Spring --- participation --- protesting --- probit model --- Iraq --- terrorism --- violent extremism --- Social Identity --- threat --- fragmentation --- grievances --- Shia --- Sunni --- factionalism --- rebel governance --- Hamas --- Gaza --- Palestine --- informal institutions --- social contract --- social protection --- Middle East and North Africa --- state-society relations --- protection --- provision --- government legitimacy --- service delivery --- state legitimacy --- social policy --- social expenditure --- mediation --- PH theory --- Israel --- ripeness --- subsidy reform --- Middle East and North Africa (MENA) --- Morocco --- Egypt --- Iran --- political participation