Key Challenges and Policy Reforms in the MENA Region: An Economic Perspective

This volume discusses economic challenges and policy reforms in the Middle East and North Africa (MENA) region, including issues such as economic growth, poverty, inequality, subsidies, external trade, financial liberalization, remittances, corruption, transparency, institutions, renewable energy, digitalization, terrorism, regional integration, capital flight, money laundering, and financial development. It is a valuable resource for researchers and policymakers.

Format: Paperback / softback
Length: 161 pages
Publication date: 23 April 2023
Publisher: Springer Nature Switzerland AG

This comprehensive volume delves into the intricate web of economic challenges and policy reforms that plague the Middle East and North Africa (MENA) region. Despite its abundant resources and strategic positioning, the region faces a multitude of economic, social, and political obstacles that hinder its potential for sustainable economic growth. The book encompasses a diverse range of theoretical and empirical studies, encompassing individual country analyses and panel studies that shed light on these pressing economic issues.

Chapter 1: Economic Growth and Development
In this introductory chapter, the authors explore the fundamental drivers of economic growth in the MENA region. They examine the role of investment, human capital, technological advancements, and government policies in fostering economic prosperity. The chapter also highlights the challenges posed by regional instability, political conflicts, and economic shocks, such as the COVID-19 pandemic, and their impact on economic growth prospects.

Chapter 2: Poverty and Inequality
The second chapter delves into the pervasive issue of poverty and inequality in the MENA region. The authors examine the various factors contributing to income disparities, including unemployment, lack of access to education and healthcare, and gender inequality. They explore the impact of poverty on social and economic outcomes, such as health, education, and political stability. The chapter also proposes policy interventions to address poverty and promote inclusive growth.

Chapter 3: Subsidies and Public Finances Policies
The third chapter examines the role of subsidies and public finances policies in the MENA region. The authors analyze the extent to which subsidies distort economic incentives, hinder investment, and contribute to fiscal imbalances. They explore the various strategies employed by governments to reduce subsidies, including targeted cash transfers, tax reforms, and privatization. The chapter also discusses the challenges associated with implementing these policies, such as political opposition and social unrest.

Chapter 4: External Trade and Financial Liberalization
The fourth chapter explores the complex relationship between external trade and financial liberalization in the MENA region. The authors examine the benefits and challenges of opening up to international trade, including the potential for economic growth, job creation, and increased foreign investment. They also discuss the risks associated with financial liberalization, such as currency depreciation, capital flight, and financial instability. The chapter proposes policy interventions to balance the benefits of trade and financial openness with the need for financial stability and protection.

Chapter 5: Remittances, Corruption, Transparency, and Institutions
The fifth chapter examines the role of remittances, corruption, transparency, and institutions in the MENA region's economic development. The authors analyze the extent to which remittances contribute to economic growth and poverty reduction, as well as the challenges posed by corruption and lack of transparency. They explore the various strategies employed by governments to promote remittances, such as financial literacy programs and regulatory frameworks. The chapter also discusses the importance of building strong institutions to support economic development and reduce corruption.

Chapter 6: Renewable Energy, Digitalization, and Terrorism
The sixth chapter explores the potential of renewable energy and digitalization to drive economic growth and development in the MENA region. The authors examine the opportunities and challenges associated with these technologies, including their potential to create new jobs, improve energy efficiency, and promote sustainable development. They also discuss the risks associated with digitalization, such as cyber security threats and data privacy concerns. The chapter proposes policy interventions to harness the benefits of renewable energy and digitalization while mitigating the associated risks.

Chapter 7: Regional Integration, Capital Flight, Money Laundering, and Financial Development
The seventh chapter examines the role of regional integration, capital flight, money laundering, and financial development in the MENA region. The authors explore the benefits and challenges associated with regional cooperation and integration, including the potential for economic growth, increased trade, and reduced political risk. They also discuss the challenges posed by capital flight, money laundering, and financial instability. The chapter proposes policy interventions to promote regional integration, combat money laundering, and enhance financial development in the region.

Chapter 8: Brain Drain and Human Capital Development
The eighth chapter examines the issue of brain drain and human capital development in the MENA region. The authors explore the factors contributing to the loss of skilled workers and professionals to other countries, including economic opportunities, political stability, and education. They examine the strategies employed by governments to attract and retain talent, such as investment in education and training programs, and the role of private sector initiatives in promoting human capital development.

In conclusion, this comprehensive volume provides a valuable insight into the most pressing economic challenges and policy reforms in the MENA region. By examining the diverse range of issues covered in each chapter, readers gain a deeper understanding of the complex web of factors that contribute to the region's economic stagnation and the urgent need for transformative change. The book serves as a valuable reference for researchers, policymakers, and stakeholders interested in the MENA region's economic future.

Weight: 273g
Dimension: 235 x 155 (mm)
ISBN-13: 9783030921354
Edition number: 1st ed. 2022