Higher oil prices, by softening budget constraints for energy producers in the Middle East and North Africa, may reduce the incentive for major economic reforms. But as this Project Syndicate column explains, the region’s oil importers, facing renewed risks to social and political stability from rising costs, must contend with much greater challenges.
It is well known that factionalism and corruption have long stood in the way of the kinds of structural reforms that Lebanon needs. But as this Project Syndicate column argues, an overlooked problem is the inaction of foreign powers that could easily compel domestic changes if they had the right incentives.
How did Lebanon’s economy collapse – and what happens now? This column from The Washington Post outlines what you need to know.
The Covid-19 pandemic threatens every region in the world, none more so than the Middle East. This Project Syndicate column argues that with oil prices plummeting and public health costs poised to skyrocket, the Arab world must use this tragic occasion to forge a new cooperative regional order.
Trade liberalisation in many developing countries has been pursued selectively, with a general reduction in tariffs counterbalanced by growing reliance on non-tariff measures. This column reports research on the political economy of such selective trade reform in Mubarak-era Egypt. The evidence shows that sectors with a greater concentration of politically connected business ‘cronies’ enjoyed systematically higher levels of non-tariff protection.