Cambridge Business Association
Middle East Transitions
Report

Middle East Transitions

A Long, Hard Road

Shahid Yusuf
IMF, 2014
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Editorial Rating

8

Qualities

  • Innovative

Recommendation

In this roadmap to economic development in the Middle East, economist Shahid Yusuf delves into the complex political and economic forces roiling Egypt, Tunisia, Jordan, Libya, Yemen and Morocco – the “Arab Countries in Transition” (ACT). The traits that characterize these nations include glaring inequalities, oppression and high unemployment. Some citizens seek remedies through dissent and revolution, as tyrants get rich leasing out their countries’ natural resources and using the money to prop up their political regimes by selectively sharing the wealth. Yusuf lays out short- and long-term alternative policies that could boost growth in the region. In the effort to explain his nuanced arguments, Yusuf sometimes ties his sentences in knots. That may be distracting, but it does not obscure the relevance of the ideas he honed during years of studying developing economies. getAbstract considers his singular perspective deeply informative for investors, entrepreneurs, NGOs, policy makers and international executives.

Summary

“ACT” One

The leaders of Egypt, Tunisia, Jordan, Libya, Yemen and Morocco – which are collectively, the “Arab Countries in Transition” (ACT) – must recognize the necessity of the reforms their people demand. A contagion of revolution during the Arab Spring ushered the Middle East and North Africa (MENA) into an era of transformation. Populist uprisings unseated long-time leaders in Egypt, Tunisia and Libya, but the success of the regimes that followed these changes has varied. In Egypt, a democratically elected coalition led by Mohammed Morsi rode the revolutionary wave to power, until frustrated citizens swept him out. Libya is mired in chaos. The kingdoms of Morocco and Jordan face rumbles of internal discontent fueled by their neighbors’ turmoil.

“A Better Transition”

Global institutions have long been occupied with trying to find paths toward economic and social development in these countries, but many of these bodies do not sufficiently consider the ACT’s unique circumstances. For example, applying the post-Soviet reforms that worked in the Eastern European bloc to the Middle East seems tempting in theory, but fundamental cultural differences suggest otherwise...

About the Author

IMF consultant Shahid Yusuf is an economist at George Washington University.

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