Shahrokh Fardoust

Research Professor at the Global Research Institute, College of William and Mary

Shahrokh Fardoust is Research Professor at the Global Research Institute and Visiting Scholar in Economics at the College of William and Mary. He holds a MA and a Ph.D. in Economics from the University of Pennsylvania.

Retooling development aid in the 21st century

Following a series of shocks from the global financial crisis to the Covid-19 pandemic and the food and fuel crisis, it remains as important as ever for development agencies and other stakeholders to deliver budget support to emerging market and developing economies. This column identifies several factors that policy-makers should consider as they design funding streams for development projects. At their core is the need to strike an appropriate balance between funding conditionality and recipient countries’ ownership and development priorities.

The importance of budget support for progress on sustainable development

Adequate financing, policy reforms and sound macroeconomic frameworks are essential for developing countries to meet their development goals – and getting the balance right between conditionality and country-level independence is a critical challenge for policy-makers everywhere. This column highlights the increasing importance of budget support from multilateral development banks, together with the continuing need for international cooperation. From economic growth to poverty reduction, budget support is a vital development tool in a wide range of circumstances.

How can the digital economy benefit everyone in the Arab world—and prevent the region from falling farther behind?

Digitalization is one of the main forces shaping the modern global economy—and an area in which the Arab world has fallen behind. Policy-makers in the region must find ways to capitalize on the enormous dividends of new digital technologies and mitigate their risks. Reaping the benefits will require improved education and training, better cybersecurity, more private sector support, and international cooperation.

Economic issues affecting MENA through the lens of public opinion

For more than a decade, policy-makers in developing countries in the Middle East and North Africa have been confronted with high inequality, low growth, rising poverty, and high youth and women’s unemployment. They now face new challenges as well. This column, originally published by the Middle East Institute, identifies some of the most important issues affecting the region, relates them to the results of a recent survey of 12 Arab countries carried out by Arab Barometer, and suggests some pathways out of the current quagmire.

How can the Biden administration help improve MENA’s economic prospects?

President Biden’s administration will face a number of major challenges in the Middle East over the next four years, from great power competition and climate change to cybersecurity and refugees and migration. This column, originally published by the Middle East Institute in Washington, DC, outlines what it can do to help improve economic prospects across the region.

Formidable challenges facing the Middle East require a sea change in economic policies

Weakening global growth, endemic conflicts and increased tensions within the Middle East and North Africa (MENA) – as well as emerging challenges such as climate change and rapid demographic shifts – are likely to have an adverse impact on the region’s economic, social and political stability in the coming years. This column outlines the policy responses that are needed to avert disaster.

Lebanon’s new leadership confronts daunting economic challenges amid geopolitical tensions across the wider region. As this column explains, understanding what has happened over the past decade to citizens’ trust in key public institutions – parliament, the government and the armed forces – will be a crucial part of the policy response.

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 green energy transition: employment pathways for MENA

The potential employment impacts of green and renewable energy in the Middle East and North Africa are multifaceted and promising. As this column explains, embracing renewable energy technologies presents an opportunity for the region to diversify its economy, mitigate the possible negative impacts of digitalisation on existing jobs, reduce its carbon footprint and create significant levels of employment across a variety of sectors. Green energy is not just an environmental imperative but an economic necessity.

Drivers of renewable energy adoption in Egyptian firms

How can policy-makers encourage small and medium-sized enterprises to adopt renewable energy sources in their production processes? This column reports evidence from Egypt, where gender and youth play a key role within firms in encouraging practices that are more positive for the environment and can help to mitigate climate change.

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.

The Forum ERF

ERF