Finance & Development, March 2003

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Offshore Financial Centers and Regulatory Competition.

Finance & Development, March - A Vote Against Grandiose Schemes

Structural Adjustment and Macroeconomic Policy Issues. The Future of Globalization. Reinvigorating Growth in Developing Countries: Lessons from Adjustment Policies in Eight Economies. The Day After Tomorrow: Otaviano Canuto Marcelo M.

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Policies for African Development: From the s to the s. Key Issues and Findings. Investment Policies in the Arab Countries: Papers Presented at a Seminar held in Kuwait, December , Strategies for Structural Adjustment: Africa and the International Monetary Fund: Understanding Growth and Poverty: Theory Policy and Empirics.

Nallari Raj; Griffith Breda. Proceedings of a Symposium held in Washington, D.

The Composition of Fiscal Adjustment and Growth: Lessons from Fiscal Reforms in Eight Economies. Why Do Governments Divest?

A Review of Analytical Issues. World Economic Situation and Prospects Department of Economic and Social Affairs. Africa - Is This the Turning Point?

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External Finance for Low-Income Countries. The State and the International Oil Market. Revenue Implications of Trade Liberalization. Privatization and Structural Adjustment in the Arab Countries: Southern Europe and the Financial Earthquake.

Challenges in Expanding Development Assistance. Shifting Geo-Economic Power of the Gulf. The Global Social Crisis. Receive emails when we post new items of interest to you.

Subscribe or Modify your profile. As we go to press, the possibility of military conflict casts a shadow over the global economic outlook—and especially the economic outlook for the Middle East and North Africa. In six articles, we examine the different reasons—from lagging political reforms and dominant public sectors to underdeveloped financial markets, high trade barriers, and inappropriate exchange rate regimes.

The contributors conclude that the region's best hope lies in sticking to the economic reforms that will put it back on the high growth path of the s, which had been made possible by the surge in oil prices. The encouraging news is that those countries that did undertake reform in the late s and early s—such as Egypt, Jordan, Mauritania, Morocco, and Tunisia—and those that have undertaken reform more recently—such as Oman and Bahrain—have reaped the benefits of higher growth rates and greater integration with the world economy.

But in those countries where the reform momentum has faltered, growth rates have reverted to their low averages. Of course, the volatility and unpredictability of oil prices and revenues—and the worry about what to do when the oil runs out—pose major challenges for all oil-exporting countries, not just in the Middle East.

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We read in "What goes Up. But on this score, many oil-exporting countries have performed poorly.

Why is that so?

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