A shifting development paradigm for the Middle East and North Africa

Source: Middle East Institute

Author(s): Rabah Arezki

Original Link:  https://www.mei.edu/publications/shifting-development-paradigm-middle-east-and-north-africa

Economic development paradigms have shifted focus over past decades: from minimizing imports to encouraging exports as the path to prosperity.

Individual countries in the Middle East and North Africa (MENA) have had little success under either paradigm — the result being stagnant economies and high unemployment, especially among young people. Perhaps now is the time for MENA countries to follow a different path and focus on harnessing the power of their collective domestic demand to foster economic development.

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