The Arab economies in a changing world / Marcus Noland and Howard Pack.

"November 2011."

"With new introduction by Mohamed A. El-Erian"--Cover.

"Compared to other regions of the world, the Middle East was once unique in its combination of authoritarianism and stultifying stability: No longer. Beginning in Tunisia, a wave of political upheaval has rolled across the region, reaching Egypt, Bahrain, Libya, and other countries caught between rising expectations and their antediluvian political systems, abetted by pan-Arab news channels and social networking media. This book examines the economics of the Middle East, with the aim of identifying changes to economic policy that could address at least the economic component of the challenges facing this part of the globe. The authors analyze the interaction of trade, productivity growth, and the political difficulties that may ensue as these countries move towards greater openness. Relevant comparisons are drawn from the experience of the transition economies and India on potentially successful policies and those likely to exacerbate existing problems. This new second edition contains a new introduction from Mohamed A. El-Erian and a new postscript"--Provided by publisher.

Includes bibliographical references (pages 325-341) and index.

Introduction -- Growth, productivity, and income -- Welfare, happiness, and discontent -- The demographic challenge and the role of globalization -- Religion, institutions, and growth -- Economic policies and their effects -- Attitudes, interest groups, and reform -- Global engagement -- Risk, credibility, and supply response -- Authoritarianism, uncertainty, and prospects for change -- Conclusion.