FOUR YEARS after the SPRING

The Arab Spring made it clear that the economic framework and institutions in the Arab countries in transition needed to change. Since then, there has been some progress, but the core structural weaknesses in these countries' economic frameworks have yet to be addressed. A key weakness of the M...

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Veröffentlicht in:Finance & Development 2015-06, Vol.52 (2), p.55
Hauptverfasser: Mazarei, Adnan, Mirzoev, Tokhir
Format: Artikel
Sprache:eng
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Zusammenfassung:The Arab Spring made it clear that the economic framework and institutions in the Arab countries in transition needed to change. Since then, there has been some progress, but the core structural weaknesses in these countries' economic frameworks have yet to be addressed. A key weakness of the Middle East and North Africa (MENA) region, including the Arab countries in transition, has been its relative isolation from the global economy and fragmentation as a region due to high barriers to trade and monopolistic markets. Such seclusion in this age of globalization has meant slow economic modernization, limited transfer of technology, and, ultimately, low competitiveness and productivity. Each country must develop its own vision and path to reform. The task will be even more difficult than before the Arab Spring. Overcoming past resistance to reform calls for political will and determination, and strong support from the international community.
ISSN:0015-1947
1564-5142