Many oil- and gas-rich countries have either announced or put in place policies to reduce their dependence on oil by diversifying their economies. This column argues that the key is to shift the focus away from the end goal of diversification and towards the transformation process of how to get there.
Rabah ArezkiChief Economist for Middle East and North Africa Region at the World Bank.
Dr. Rabah Arezki is the Chief Economist for Middle East and North Africa Region at the World Bank. He received his MS in statistics and economics from the Ecole Nationale de la Statistique et de l’Administration Economique in Paris and Ph.D in economics from European University Institute, Florence. He has written on energy, commodities, development economics and international macroeconomics. Arezki is an ERF Research Fellow.