Ahmed Galal

Rethinking the Role of the State

Industrial Policy in the Middle East and North Africa

Bernard M. Hoekman

Improving the economic performance of Arab countries is now more critical than ever. The region faces high population growth rates, rising unemployment, and modest economic growth coupled with increasingly intense competition from emerging markets in eastern Europe, Latin America, and Asia. Meeting these challenges requires finding ways to overcome political obstacles that impede socially beneficial economic reforms. Despite fifty years of repeated attempts at Arab economic integration, the results in terms of intraregional trade and investment flows have been very modest. This book explains why and discusses possible ways forward. The authors draw especially on the success of the European Union to assess the scope of Arab economic integration as an instrument for narrowing the persistent gap between the region¡¯s economic potential and its performance.

Between Hope and Reality

Arab Economic Integration

Eliana Cardoso

Monetary Policy and Exchange Rate Regimes: Options for the Middle East examines some of the most pressing issues facing policymakers today. The authors offer answers to such questions as: Are the choices of exchange rate regime limited to hard fixing or fully floating? Are capital flight and banking crises avoidable? What is the best way to coordinate monetary and fiscal policies? The answers to these questions draw on the vast literature available on these topics as well as the lessons learned from recent crises, especially in East Asia and Latin America. Beside its broad coverage, this volume includes rich analyses on specific countries of the Middle East. It merits a wide readership, but policymakers seeking to achieve macroeconomic stability and growth will find it particularly useful.

Options for the Middle East

Monetary Policy and Exchange Rate Regimes

Hafez Ghanem

Carol Graham

Raj M. Desai

Ragui Assaad

Magdi Amin

Nazar al-Baharna

Kemal Dervis

Navtej S. Dhillon

This volume examines the economic problems of Arab countries following the Arab Spring. The authors argue that reforms need to accomplish four objectives: more opportunities for youth, modernization of the state, creation of a competitive private economy, and integration of Arab countries with the global economy.

Economic Transitions in the Arab World

After the Spring

Ahmed Galal

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