Economic Research Forum (ERF)

Ishac Diwan

Editorial board

Ishac Diwan
Director of Research, Finance for Development Lab, Paris School of Economics

Ishac Diwan is the Director of Research, Finance for Development Lab, Paris School of Economics. Previously, he was Chair d'Excellence Monde Arabe at Paris Sciences et Lettres, and visiting professor at SIPA, Columbia University. His research focuses on topics related to Political Economy of the Middle East, Development and Growth in Africa, Financial Flows and Trade – domestic and global issues. He received his PhD. in Economics from University of California, Berkeley. He is an ERF Research Fellow.

Content by this Author

The historical roots of state weakness and social inequities in Lebanon

After the collapse of the Ottoman Empire and through the interwar period, Lebanon and much of modern Syria were administered under what was known as the French Mandate. This column explores the legacy of the arrangement, concluding that it had a highly negative impact on the post-independence economic, political, and social development of Lebanon.

To escape the crisis, embark on a path of renewal

In the chaotic global post-Covid-19 economy, with the war in Ukraine, the challenge of adjusting to the stagflation engulfing the world is particularly hard for the oil-importing countries of the Middle East and North Africa. This column summarises the key messages of a report from the MENA Commission on Stabilization and Growth.

Covid-19, trust and rising economic challenges in the Arab world

There is a common view that managing Covid-19 is all about making a trade-off between lives and livelihoods. But as this column explains, comparing global performance, countries have tended to do well, or not, on both health and economics simultaneously. A key correlate of successful country performance is a high level of trust in government, which makes compliance with public health and social measures more efficient – and therefore minimises economic casualty.

Lebanon’s dysfunctional political economy

Using the prospect of a flood of refugees as a bargaining chip in international negotiations, the government is happy to subsist on foreign exchange reserves while waiting to collect geopolitical rents. Yet as this Project Syndicate column argues, there is reason to hope that this strategy, which has already impoverished half the population, will fail.

Killer lockdowns

Most developed countries have responded to the Covid-19 crisis by imposing lockdowns to control the spread of infections rather than taking the ‘herd immunity’ approach that some have advocated. This column argues that poor countries should not necessarily mimic this response: for them, the risks of the herd immunity approach can be dwarfed by the risks of starvation, destitution, instability and violence arising from a prolonged lockdown.

Lebanon’s economic crisis: how to avoid a ‘lost decade’

An independent group of development specialists, economists and finance experts met in Beirut in late December to discuss Lebanon’s economic crisis and the way forward. This column summarises their ten-point action plan to arrest the crisis and place the country on a path of sustained recovery.

Cronyism reduces job creation in Lebanon

Firm-level political connections are widespread. This column examines whether they affect employment decisions in Lebanon, a country where the majority of university students think that connections are important for finding jobs and many admit to having used them.

Lebanon’s perfect storm

After years of maintaining a dysfunctional political economy based on sectarianism and rentierism, Lebanon's ruling elites are being confronted with simultaneous financial, economic and political crises. As this Project Syndicate column argues, the question now is how they respond to a reformist movement demanding fundamental change, including a new political settlement.

Low social and political returns to education in the Arab world

Arab societies urgently need to start looking at how to improve education systems, not just in ways to improve the marketability of individuals but, as importantly, to improve their social and political impact on society. Drawing on evidence from the World Values Survey, this column argues for strengthening a sense of community, beefing up values of civic engagement, inculcating democratic principles, supporting gender equality and promoting social tolerance.

Most read

A Macroeconomic Accounting of Unemployment in Jordan:  Unemployment is mainly an issue for adults and men

Since unemployment rates in Jordan are higher among young people and women than other groups, unemployment is commonly characterised as a youth and gender issue. However, the majority of the country’s unemployed are adults and men. This suggests that unemployment is primarily a macroeconomic issue challenge for the entire labour market. The appropriate response therefore is coordinated fiscal, monetary, structural and institutional policies, while more targeted measures can still benefit specific groups.

Tunisia’s energy transition: the key role of small businesses

Micro, small and medium-sized enterprises (MSMEs) play a critical role in Tunisia’s economy, contributing significantly to GDP and employment. As this column explains, they are also essential for advancing the country’s ambitions to make a successful transition from reliance on fossil fuels to more widespread use of renewable energy sources. A fair distribution of the transition’s benefits across all regions and communities will secure a future where MSMEs thrive as leaders in a prosperous, inclusive and sustainable Tunisia.

The hidden potential of Jordan’s small firms for driving a green transition

For Jordan, a green transition represents an enormous transformative opportunity. But a decade-long increase in the use of renewable energy has not freed the country of its economic woes. This column explores the currently underused yet potentially powerful force of micro, small and medium-sized enterprises – and proposes policies that could improve the investment climate and clear legislative and regulatory barriers.

Global value chains and sustainable development

What is the role of exchange rate undervaluation in promoting participation in global value chains by firms in developing countries? What is the impact of the stringency of national environmental regulations on firms’ GVC participation? And how do firms’ political connections affect their participation in GVCs? These questions will be explored for the MENA region at a special session of the ERF annual conference, which takes place in Cairo in April 2025.




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