Challenges of Growth and Globalization in the Middle East and North Africa

Abstract

The Middle East and North Africa (MENA) is an economically diverse region that includes countries with a common heritage, at various stages of economic development, and with vastly different endowment of natural resources.Despite undertaking economic reforms in many countries, and having considerable success in avoiding crises and achieving macroeconomic stability, the region's economic performance in the past 30 years has been below its potential.The purpose of this pamphlet is to take stock of the region's relatively weak performance, as measured by rate of growth, links to the global economy, and employment generation; explore the reasons for this outcome; and propose an agenda for urgent reforms.The authors would like to thank Susan Creane for her comments and suggestions, other colleagues in the Middle Eastern Department of the IMF for valuable comments on earlier drafts, Heather Huckstep

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