Economic Performance In The Middle East And North Africa

The Middle East and North Africa (MENA) is an economically diverse region. Despite undertaking economic reforms in many countries, and having considerable success in avoiding crises and achieving macroeconomic stability, the region’s economic performance in the past 30 years has been below potential. This paper takes stock of the region’s relatively weak performance, explores the reasons for this out come, and proposes an agenda for urgent reforms.

The economies of the Middle East and North Africa (MENA) region are in dire need of substantial institutional reform to improve their growth performance so as to create enough jobs for millions of entrants into their respective job markets, and to fight poverty and income inequality. This is necessary not only to reduce the risk of social unrest and domestic/regional conflicts, but also to assure stability of energy supply to the rest of the world and to hamper the violence originating from the region. So, the region's convergence to global standards of governance quality is desirable for increased prosperity and stability both in the region and outside. This volume contributes to the recently burgeoning political economy literature on institutions by putting together well-written chapters that empirically study the relationship between economic performance and institutional characteristics in MENA economies to point out some of the areas where institutional reform is particularly needed and possible tools to use for such reform. Perhaps one common lesson that can be derived from all chapters in the volume is that the both the region itself and the global economy will benefit from a MENA region that is better integrated to the rest.

The world's attention to the countries of the Middle East and North Africa (MENA) region has often been dominated by headline issues: conflict, sanctions, political turmoil, and rising oil prices. Little of this international attention has considered the broad range of development challenges facing this diverse group of countries. Breaking the Barriers reflects the collected thinking of the World Bank's Office of the Chief Economist for the MENA Region on the long-term development challenges facing the region and the reform priorities and strategies for effectively meeting these challenges. It.

Offering a comprehensive analysis of the development of economies in the Middle East and North Africa over the past half century, this book charts the progress of these countries through an examination of an Islamic model of economic development, reform processes, and economic integration. Far from being a simple process, economic development in the Middle East and North Africa is dependent on the interaction of a set of changing systems including; international relations, the political regime, economy, and society. By analysing these interdependent factors, The Economic Development Process in MENA seeks to provide answers to the most pressing issues facing the economies in this area. Providing an interpretation of regional development in light of dialectics between state and society, this book will be of value to students and scholars with an interest in the Middle East, Economics, and International Relations.

Despite its oil wealth, the Middle East and North Africa is economically stagnating. Growth rates are comparatively unfavorable and insufficient to substantially improve citizens’ lives. Whether this economic inertia can be overcome or will continue into the indefinite future is a vital question that confronts both the region and the world. In this book leading Middle East scholar Robert Springborg discusses the economic future of this region by examining the national and regional political causes of its contemporary underperformance. Overgrown, weak MENA states, he explains, have been unable to escape their unfavorable historical legacies. “Limited access orders” and the deep states based in the means of coercion that underpin them undermine state capacities and constrain beneficial, autonomous political and economic activity. Increasingly challenged by their populations, MENA states face the daunting and so far unmet challenge of diversifying non-sustainable, rentier political economies away from direct or indirect dependence on oil and gas revenues. Stagnation of those revenues and failure to generate alternative income sources, combined with rapid population growth, presents the region with an economic challenge that can only be overcome by profound political change.

Using cases on individual countries, Economic Development in the Middle East and North Africa offers diverse theoretical and empirical evidence on a variety of issues facing policymakers, investors, and other stakeholders in the region.

development, political scientists and development practitioners." --Book Jacket.