Challenges & Reforms of Economic Regulation in MENA Countries .


Title : Challenges & Reforms of Economic Regulation in MENA Countries

ISSN : 12

Publisher : Arab Planning Institute - Kuwait

Author : Imed Limam (Editor)

Published Date : 2002

Contents :

Challenges and Reforms of Economic Regulation in MENA Countries: A Political Economic Approach,? by Jitendra Uttam, underlines the areas of focus of any regulatory reform strategy in the specific context of the political economy of the MENA region. The author argues that the main characteristic of the region is its ?anti-productive? bias. This bias has translated into ?circulation economies? and ?rentier states? with an ensuing consumer-led growth. These characteristics are such that any ?best practice? big-bang regulatory reform focusing exclusively on freeing markets could be a recipe for disaster. Instead, the author suggests a ?second-best? approach that consists of moving toward freer markets along with an alignment of national regulatory patterns much influenced by politics and the dynamics of interest groups. He proposes a gradual approach toward a pro-competitive free market system where the political structure is also made to conform to this structure. He then proposes sector-specific policy recommendations for international trade, banking, telecommunications, and e-commerce, and highlights some necessary institutional mechanisms for sectoral regulation.