From Political to Economic Awakening in the Arab World : The Path of Economic Integration
The forces unleashed by the Arab political awakening have the power to be transformational. One critical parameter of success will be whether the Arab political awakening is accompanied by a concurrent economic awakening. Such an economic awakening...
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| Language: | English en_US |
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Washington, DC: World Bank
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2012/01/17053551/political-economic-awakening-arab-world-path-economic-integration http://hdl.handle.net/10986/12221 |
| Summary: | The forces unleashed by the Arab
political awakening have the power to be transformational.
One critical parameter of success will be whether the Arab
political awakening is accompanied by a concurrent economic
awakening. Such an economic awakening would need to generate
quality employment for the millions of young men and women
who are looking for jobs and a decent life. In most Arab
countries, it has become evident that the development
paradigm of the past cannot achieve the qualitative and
inclusive growth expected by the population. Economic
integration through increased trade and foreign direct
investment (FDI) is one key means available to policy makers
in the short to medium term to put the Partnership countries
on a higher path of sustainable economic growth and in a
position to decisively tackle the problem of unemployment,
especially youth unemployment. The comprehensiveness of the
proposed integration strategy is also designed to facilitate
its political feasibility and acceptance. Although any
single efficiency-enhancing reform may hurt a particular
group or individual, once it is part of a broad and
comprehensive reform agenda, the potential negative effects
of reform tend to cancel out each other, making everyone a winner. |
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