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Toward a Framework for Arab Economic Reform: Learning from the Evidence

In: Globalisation, Democratisation and Radicalisation in the Arab World

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  • Jamil Ali Hammoud

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).

Suggested Citation

  • Jamil Ali Hammoud, 2011. "Toward a Framework for Arab Economic Reform: Learning from the Evidence," Palgrave Macmillan Books, in: Jane Harrigan & Hamed El-Said (ed.), Globalisation, Democratisation and Radicalisation in the Arab World, chapter 3, pages 49-69, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-30700-1_3
    DOI: 10.1057/9780230307001_3
    as

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