The report highlights the important links between good governance on a level legal and regulatory playing field, and the ability of investment to stimulate growth. Investment in the Middle East and North Africa (MENA) region has been strong over the last two decades in comparison with Latin America and Eastern Europe. However, in the oil exporting countries, it has been primarily supported by large and expanding public investments. Oil importers, in contrast, have shown more strength in private investment, which has increased in recent years. A concern with reliance on public investment is that in economies with weak governance there is no evidence that public investment stimulates growth. In contrast, in countries with an adequate level of protection of property rights and legal institutions, public investment is strongly linked to growth. The report also makes a strong case for private investment in services and manufacturing as engines of job creation and income growth in the region.

"The impact of the global financial and economic crisis on the Middle East and North Africa region was relatively mild. Lack of integration and a large public sector helped insulate the region to some extent, but now these and other factors are slowing down the speed of its economic recovery. The report examines the major factors threatening the recovery and those that obstruct long-term growth, especially non-oil export growth, which in net terms contributed little to regional growth during the past decade, with non-oil exports remaining below potential in many countries in the region. The report emphasizes several major areas in need of policy makers\2019 attention, including restrictive trade policies, particularly those affecting trade in services; governance issues linked to uneven application of rules and regulations; inefficient and inflexible labor markets and scarcity of skills, innovation and technological capabilities."--page xi.

The post-revolutionary economies of MENA - Egypt, Tunisia, Libya and Yemen - have been recovering after a period of growth decelerations in 2011. In Egypt and Tunisia, the growth dips of 2011 were less dramatic than the declines observed during previous transitions. The recovery has been relatively quick but the transition process is far from complete and uncertainty about the political and reform process remains a binding constraint to private investment. Consequently, post-transition growth is below potential and is lower than growth prior to the Arab Spring, with negative consequences for employment and poverty. Events in the post-revolution economies have affected other countries in MENA. Macroeconomic fundamentals weakened in most developing MENA countries in 2011-12 as growth slowed and governments responded to social pressures with expansionary fiscal policies. The regional growth outlook for 2013 reflects weaker expected global economic activity, especially in the EU, and moderating oil prices. Regional economic growth is expected to decelerate to 3.5% in 2013 from 5.5% in 2012. Prolonged political and policy uncertainty and social unrest are serious downside risks to the outlook.

The post-revolutionary economies of MENA - Egypt, Tunisia, Libya and Yemen - have been recovering after a period of growth decelerations in 2011. In Egypt and Tunisia, the growth dips of 2011 were less dramatic than the declines observed during previous transitions. The recovery has been relatively quick but the transition process is far from complete and uncertainty about the political and reform process remains a binding constraint to private investment. Consequently, post-transition growth is below potential and is lower than growth prior to the Arab Spring, with negative consequences for employment and poverty. Events in the post-revolution economies have affected other countries in MENA. Macroeconomic fundamentals weakened in most developing MENA countries in 2011-12 as growth slowed and governments responded to social pressures with expansionary fiscal policies. The regional growth outlook for 2013 reflects weaker expected global economic activity, especially in the EU, and moderating oil prices. Regional economic growth is expected to decelerate to 3.5% in 2013 from 5.5% in 2012. Prolonged political and policy uncertainty and social unrest are serious downside risks to the outlook.

The April 2012 issue of the World Economic Outlook assesses the prospects for the global economy, which has gradually strengthened after a major setback during 2011. The threat of a sharp global slowdown eased with improved activity in the United States and better policies in the euro area. Weak recovery will likely resume in the major advanced economies, and activity will remain relatively solid in most emerging and developing economies. However, recent improvements are very fragile. Policymakers must calibrate policies to support growth in the near term and must implement fundamental changes to achieve healthy growth in the medium term. Chapter 3 examines how policies directed at real estate markets can accelerate the improvement of household balance sheets and thus support otherwise anemic consumption. Chapter 4 examines how swings in commodity prices affect commodity-exporting economies, many of which have experienced a decade of good growth. With commodity prices unlikely to continue growing at the recent elevated pace, however, these economies may have to adapt their fiscal and other policies to lower potential output growth in the future.

Analysis of North African revolt against authoritarianism, known as the ‘Arab Spring’, embraced reductionist explanations such as the social media, youth unemployment and citizens’ agitations to regain dignity in societies humiliated by oppressive regimes. This book illustrates that reductionist approaches can only elucidate some symptoms of a social problem while leaving unexplained the economic and political structures which contributed to it. One outcome of quiescence, resource-based ethnic and sectarian conflicts and faulty development paradigm is deepened inequality and a wedge between winners and losers or affluence, wealth and power vis-à-vis poverty and hunger among humiliated jobless and hope-less masses. The book blends theories of development and transition to explain the complex factors which contributed to North Africans’ revolt against authoritarianism and its long-term consequences for political development in the Arab World. This timely book is of great interest to researchers and students in Development Studies, Economics and Middle Eastern Studies as well as policy makers and democracy, human rights and social justice activists in the Arab world.

This book discusses key issues concerning water, energy and food in the Middle East and North Africa (MENA) region. It provides an interdisciplinary account of current developments in the most water-scarce and conflict-torn region in the world. Key analysts on MENA water, agriculture and energy affairs have been drawn together to compile one of the first edited volumes dedicated to the crucial role of water, energy and food security in the 21st century MENA region. It will be of interest to decision-makers, analysts and students of the future of the Middle East from a broad range of disciplines including the physical and social sciences. This book was previously published as a special issue of the International Journal of Water Resources Development.

This book makes a substantial and timely contribution to discussions on energy security in Oman, providing a systematic analysis of energy security in Oman from 1920 to 2020. It is particularly relevant in light of the recent global geopolitics of the Gulf particularly, and the Middle Eastern region broadly, as well as connecting to current climate change research and debates. Combining a political sociological account with postcolonial concepts within a theoretical and empirical exploration of energy politics, the book weaves a study of energy security into the historical and contemporary development of political, economic, security, and social structures in Oman. Including interviews with Omani and Oman-based practitioners, as well as grounded in historical documents which include Arabic-language sources, this book evaluates the energy question beyond the typical economic perspective, considering socio-political opportunities and challenges. It also makes economic-related recommendations in tandem with rentier state theory. Unlike the dominant accounts of energy security in Oman, this book sets itself apart by moving away from utilising liberal and realist approaches for its analysis and engages systematically with critical security studies to introduce a non-Eurocentric perspective to the arena. Of interest to scholars in Middle Eastern history, energy security, and security studies, this book assumes an important place in the critical literature on the Gulf, particularly within environmental studies and energy policy literature.

“Development Without Aid” opens up perspectives about foreign aid to the world’s poorest countries. Growing up in Malawi the author developed a sense of the limitations of foreign assistance and from this evolves a critique of foreign aid as an alien resource unable to provide the dynamism that could propel the poorest countries out of poverty. The book aims to help move the discussion beyond foreign aid. It examines the rapid growth of the world’s diasporas as a quasi-indigenous resource of increasing strength in terms of both financial and human capital, and considers how far such a resource might supersede aid. It uses extensive research findings to explore the possibilities for a resumption of sovereignty by poor states, especially in Africa, over their own development with the assistance of the world’s diasporas.

The Mutual Review of Development Effectiveness is an exercise in mutual accountability undertaken jointly by the UNECA and the OECD following a request of NEPAD Heads of State and Government in 2003.