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Harnessing trade for development and growth in the Middle East

Author

Listed:
  • Patrick Messerlin

    (ECON - Département d'économie (Sciences Po) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique)

  • Bernard Hoekman

    (Banque Mondiale - Banque Mondiale)

Abstract

Thirty to forty years ago, a number of key MENA nations were on an economic par with Asian countries. According to the report, in the 1950s, per capita income in Egypt was similar to that in South Korea; Egypt's per capita income today is less than 20 percent of South Korea's. Long-held suspicions that corrupt practices and other economic inefficiencies and bottlenecks undermine prospects for outside investment and economic growth are confirmed by a multi-country business and economic survey conducted specifically for this study: 20 percent of the respondents said corruption payments averaged between 2 percent and 9 percent of the value of traded goods. To rectify these economic problems, MENA countries must not only liberalize trade, but also pursue a regulatory agenda that encourages genuine economic competition. MENA economies must also move quickly to reform their service sectors, such as banking, if they are to generate outside investment.

Suggested Citation

  • Patrick Messerlin & Bernard Hoekman, 2002. "Harnessing trade for development and growth in the Middle East," SciencePo Working papers Main hal-03416694, HAL.
    • Handle: RePEc:hal:spmain:hal-03416694
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    Cited by:

    1. repec:bla:jcmkts:v:44:y:2006:i::p:507-532 is not listed on IDEAS
    2. Peter NUNNENKAMP, 2001. "Why Economic Growth Has Been Weak in Arab Countries: The Role of Exogenous Shocks, Economic Policy Failure and Institutional Defiencies," Middle East and North Africa 330400047, EcoMod.
    3. Bernard Hoekman & Patrick Messerlin, 2002. "Initial conditions and incentives for Arab economic integration : can the European Community's success be emulated?," SciencePo Working papers Main hal-03607662, HAL.
    4. repec:hal:wpspec:info:hdl:2441/8070 is not listed on IDEAS
    5. Patrick Messerlin & Sam Laird, 2002. "Trade Policy Regimes and Development Strategies: A Comparative Study," SciencePo Working papers Main hal-00973060, HAL.
    6. Patrick Messerlin & Sam Laird, 2002. "Trade Policy Regimes and Development Strategies: A Comparative Study," Working Papers hal-00973060, HAL.
    7. repec:hal:spmain:info:hdl:2441/8070 is not listed on IDEAS
    8. Imad El-Anis, 2018. "Economic Integration and Security in the Middle East and North Africa: What Prospects for a Liberal Peace?," Journal of Developing Societies, , vol. 34(3), pages 233-263, September.
    9. Nunnenkamp, Peter, 2005. "Die Wachstumsschwäche arabischer Länder: wo liegen die Gründe?," Open Access Publications from Kiel Institute for the World Economy 3786, Kiel Institute for the World Economy (IfW Kiel).
    10. Esfahani, Hadi Salehi & Squire, Lyn, 2007. "Explaining trade policy in the Middle East and North Africa," The Quarterly Review of Economics and Finance, Elsevier, vol. 46(5), pages 660-684, February.
    11. Jeffrey B. Nugent & Abla M. Abdel-Latif, 2010. "A Quiz on the Net Benefits of Trade Creation and Trade Diversion in the QIZs of Jordan and Egypt," Working Papers 514, Economic Research Forum, revised 04 Jan 2010.
    12. repec:spo:wpecon:info:hdl:2441/8070 is not listed on IDEAS
    13. Nunnenkamp, Peter, 2003. "Economic policy, institutional development, and income growth: How Arab countries compare with other developing countries," Kiel Working Papers 1183, Kiel Institute for the World Economy (IfW Kiel).
    14. repec:spo:wpmain:info:hdl:2441/8070 is not listed on IDEAS

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