he Middle East and North Africa (MENA) region has lagged behind other regions in liberalization and economic reform during the past two decades. In this paper I argue that while socio-political and institutional factors may help explain the differences in the pace of economic reform between the different countries in the MENA region, the main explanation for this phenomenon at the general regional level has to be sought in the distinguishing structural features of the economies in the region. We focus on the foreign trade sector by examining the competitive position of the region as compared to Asia and Latin America. It is argued that the composition of skill / natural resource base in the region has created problems for competitiveness which have hindered export diversification at socially acceptable real wage levels. The policy implications of this phenomenon are discussed and its implications for the new Euro-Mediterranean trade initiatives are spelled out.
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Paper provided by Economic Research Forum in its series Papers with number
9932.
Find related papers by JEL classification: O10 - Economic Development, Technological Change, and Growth - - Economic Development - - - General O53 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East