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After the Spring: Economic Transitions in the Arab World

Author

Listed:
  • Amin, Magdi
  • Assaad, Ragui
  • al-Baharna, Nazar
  • Dervis, Kemal
  • Desai, Raj M.
  • Dhillon, Navtej S.
  • Galal, Ahmed
  • Ghanem, Hafez
  • Graham, Carol
  • Kaufmann, Daniel

Abstract

The Arab Spring constitutes perhaps the most far-reaching political and economic transition since the end of communism in Europe. For too long, the economic aspirations of the people in the region, especially young people, have been ignored by leaders in Arab countries and abroad. Competing views as to how best to meet these aspirations are now being debated in the region. The outcome will shape Arab societies for generations to come. The authors of this book argue that significant economic reforms must accompany the major political transitions that are underway. Although each country has a different economic structure and history and must make its own way forward, there are spill-overs from trade and investment linkages, the contagion of news cycles, interaction of people and sharing of expectations that are too great to ignore. Some common foundation of the new Arab economies is needed. Towards that end, this volume addresses four central challenges of economic reform in the Arab world. First, with two-thirds of the population under the age of 30, the disproportionate burdens of unemployment and poor education can no longer be heaped on youth. Second, while some government policies may have improved the living standards of Arab citizens in the past, they have also entrenched cronies, enriched a small elite, and become unaffordable. Third, if Arab economies are to compete in the 21st century they cannot depend solely on oil and gas money, remittances, and tourism, but will require active, independent private sectors. And finally, the relative isolation of Arab economies--both from each other and from the world--must end. Rather than providing specific lists of recommendations, this book sets forth a set of guidelines and priorities for reformers who will begin creating new opportunities for youth, rebuilding the institutions of the state, diversifying the private sector, and cooperating with each other and integrating with the world economy. Available in OSO: http://www.oxfordscholarship.com/oso/public/content/economicsfinance/9780199924929/toc.html

Suggested Citation

  • Amin, Magdi & Assaad, Ragui & al-Baharna, Nazar & Dervis, Kemal & Desai, Raj M. & Dhillon, Navtej S. & Galal, Ahmed & Ghanem, Hafez & Graham, Carol & Kaufmann, Daniel, 2012. "After the Spring: Economic Transitions in the Arab World," OUP Catalogue, Oxford University Press, number 9780199924929.
  • Handle: RePEc:oxp:obooks:9780199924929
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    Citations

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    Cited by:

    1. McAdam, Peter & Christopoulos, Dimitris, 2015. "Efficiency, Inefficiency and the MENA Frontier," Working Paper Series 1757, European Central Bank.
    2. BENCHEA Laura - Ramona, 2015. "Rebuilding the Arab Economies: New Regional and Global Strategies," European Journal of Interdisciplinary Studies, Bucharest Economic Academy, issue 02, pages -, June.
    3. BENCHEA Laura - Ramona, 2015. "Rebuilding the Arab Economies: New Regional and Global Strategies," European Journal of Interdisciplinary Studies, Bucharest Economic Academy, issue 02, June.
    4. Shahid Yusuf, 2014. "Middle East Transitions; A Long, Hard Road," IMF Working Papers 14/135, International Monetary Fund.
    5. Costello, Matthew & Jenkins, J. Craig & Aly, Hassan, 2015. "Bread, Justice, or Opportunity? The Determinants of the Arab Awakening Protests," World Development, Elsevier, vol. 67(C), pages 90-100.
    6. Hillman, Arye L. & Metsuyanim, Kfir & Potrafke, Niklas, 2015. "Democracy with group identity," European Journal of Political Economy, Elsevier, vol. 40(PB), pages 274-287.
    7. Tine Lehmann & Maximilian Benner, 2015. "Cluster Policy in the Light of Institutional Context—A Comparative Study of Transition Countries," Administrative Sciences, MDPI, Open Access Journal, vol. 5(4), pages 1-25, October.
    8. Faria, João Ricardo & McAdam, Peter, 2015. "Macroeconomic adjustment under regime change: From social contract to Arab Spring," Journal of International Money and Finance, Elsevier, vol. 56(C), pages 1-22.
    9. repec:jis:ejistu:y:2015:i:02:id:399 is not listed on IDEAS
    10. Baldi, Guido, 2013. "Fiscal Policy Institutions and Economic Transition in North Africa," MPRA Paper 48677, University Library of Munich, Germany.
    11. Hassan Aly & Yousef Daoud & Amr Ragab & Ayhab Saad, 2017. "Young Gazelles and Aging Turtles: Understanding the Determinants of Employment Creation in the Labor Market in MENA Countries," Working Papers 1121, Economic Research Forum, revised 07 2017.
    12. Joao Ricardo Faria & Peter McAdam, 2013. "From Social Contract to Arab Spring: Macroeconomic Adjustment under Regime Change," School of Economics Discussion Papers 0813, School of Economics, University of Surrey.
    13. Desai, Raj M. & Olofsgård, Anders & Yousef, Tarik, 2018. "Signaling Dissent: Political Behavior in the Arab World," SITE Working Paper Series 45, Stockholm School of Economics, Stockholm Institute of Transition Economics.
    14. Steffen Hertog, 2016. "Is There an Arab Variety of Capitalism?," Working Papers 1068, Economic Research Forum, revised 12 Jun 2016.
    15. Amr Hosny, 2015. "Are we Sure About the Effects of the Egyptian Uprisings? A SURE Approach," Working Papers 945, Economic Research Forum, revised Sep 2015.

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