Abstract
For many economists and social scientists, the emergence of the Washington consensus in the late 1980s marked a significant shift in the thinking and policy making of the World Bank, IMF, OECD, G8 and other international organisations from modelling development to modelling liberalisation (Naim, 1999; Stewart, 1997; Williamson, 2000).1 The Washington Consensus, through macroeconomic stabilisation and structural adjustments, combined to inspire a worldwide movement of economic reforms. Needless to say, globalisation contributed in no less important ways to the crystallisation of the reforms agenda of the late 20th and early 21st centuries. Consequently, liberalisation of trade, privatisation, investment regulations and later good governance, institutional building and gender equity became the order of the day (Alexandria Declaration, 2004).
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Bibliography
Abed, G. and Davoodi, H. (2003) Challenges of Growth and Globalization in the Middle East, at www.imf.org/external/pubs/ft/med/2003/eng/abed/htm.
Abootalebic, Ali R. (1999) ‘Middle East Economies: A Survey of Current Problems and Issues’, Middle East Review of International Affairs, 3(3), September, at: http://meria.idc.ac.il/journal/1999/issue3/jv3n3a6.html.
Alexandria Declaration (2004) Final Statement of ‘Arab Reform Issues: Vision and Implementation’, 12–14 March, Bibliotheca Alexandria.
Alissa, Sufian (2007) ‘The Challenge of Economic Reform in the Arab World’ Carnegie Papers, No. 1, May (Beirut: Carnegie Middle East Center).
Alonso-Gamo, Patricia, et al. (1997) ‘Adjusting to New Realities: MENA, The Uruguay Round, and the EU-Mediterranean Initiative’, IMF Working Paper 97/5 (Washington DC: IMF).
Bellin, Eva (2004) ‘The Political Economic Conundrum: the Affinity of Economic and Political Refrom in MENA’, Carnegie Papers, No.53 (Beirut: Carnegie Middle East Center)
Dasgupta, Dipak, Jennifer Keller and T. G. Srinivasan (2001) ‘Reform and Elusive Growth in the Middle East: What Has Happened in the 1990s?’, Middle East and North Africa Working Papers Series, No.25, July (Washington DC: World Bank).
Dillman, Bradford L. (2001) ‘Facing the Market in North Africa’, The Middle East Journal, 55 (2), pp.198–215.
Gardner, Edward (2003) ‘Creating Employment in the Middle East and North Africa’ (Washington DC: IMF).
IMF (International Monetary Fund) (2003) ‘Fulfilling a Promise: Reform Prospects in the MENA Region’ (Washington DC: IMF).
Istvan, Abel and Bonin, John (1992) ‘The Big Bang Versus Slow but Steady: A Comparison of the Hungarian and Polish Transformation’, CEPR Discussion Paper No.626 (London: CEPR).
Jiyad, Ahmed M. (1996) ‘The Social Balance Sheet of Privatisation in the Arab Countries’ (Bergen: Center for Development Studies), Series 1996:2.
Kapsos, Steven (2005) ‘The Employment Intensity of Growth: Trends and Macro-economic Determinants’. Employment Paper 2005/12 (Geneva: International Labour Office).
Maghawri, Ali Shalabi (2003) ‘Economic and Political Implications of the MEFTA Initiative’, The International Politics Journal, October, at: www.siyassa.org.eg/esiyassa/ahram/2003/10/1/ECON1.HTM
Nabli, Mustapha Kamel and Veganzones-Varoudakis, Marie-Ange (2004) ‘Reforms and Growth in MENA Countries: New Empirical Evidence’, Middle East and North Africa Working Papers Series, No.36 (Washington DC: World Bank).
Naim, Moises (1999) ‘Fads and Fashion in Economic Reform: Washington Consensus or Washington Confusion?’, Foreign Policy Magazine, 26 October.
Rachami, Jawad (2003) ‘Institutionalised Corruption: An Instrument of Governance in the Middle East and North Africa?’ (Washington DC: Center for International Private Enterprise).
Shehadi, Kamal S. (2002) ‘Lessons in Privatization: Considerations for Arab States’, United Nations Development Programme (UNDP), at: www.mafhoum.com/press3/99E16.pdf.
Stewart, Frances (1997) ‘Williamson and the Washington Consensus Revisited’, in Louis Emmerji (ed.), Economic and Social Development into the XXI Century (Washington DC: InterAmerican Development Bank).
Williamson, John (2000) ‘What Should the World Bank Think about the Washington Consensus?’ The World Bank Research Observer, 15(2), August, at: www.iie.com/publications/papers/paper.cfm?ResearchID=351
World Bank (2004) ‘Unlocking the Employment Potential in the Middle East and North Africa: Toward a New Social Contract’ MENA Development Report (Washington DC: World Bank).
— (2006) MENA Economic Developments and Prospects 2006: Financial Markets in a New Age of Oil (Washington DC: World Bank).
— (2007) MENA Economic Developments and Prospects: Job Creation in an Era of High Growth (Washington DC: World Bank).
Editor information
Editors and Affiliations
Copyright information
© 2011 Jamil Ali Hammoud
About this chapter
Cite this chapter
Hammoud, J.A. (2011). Toward a Framework for Arab Economic Reform: Learning from the Evidence. In: Harrigan, J., El-Said, H. (eds) Globalisation, Democratisation and Radicalisation in the Arab World. Palgrave Macmillan, London. https://doi.org/10.1057/9780230307001_3
Download citation
DOI: https://doi.org/10.1057/9780230307001_3
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-32407-1
Online ISBN: 978-0-230-30700-1
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)