Middle East and North Africa Economic Developments and Prospects, September 2011: Investing for Growth and Jobs

Région Moyen-Orient et Afrique du Nord de la Banque mondiale: Évolution et perspectives économiques, septembre 2011

World Bank

No 12434, World Bank Publications - Reports from The World Bank Group

Abstract: The report highlights the important links between good governance on a level legal and regulatory playing field, and the ability of investment to stimulate growth. Investment in the Middle East and North Africa (MENA) region has been strong over the last two decades in comparison with Latin America and Eastern Europe. However, in the oil exporting countries, it has been primarily supported by large and expanding public investments. Oil importers, in contrast, have shown more strength in private investment, which has increased in recent years. A concern with reliance on public investment is that in economies with weak governance there is no evidence that public investment stimulates growth. In contrast, in countries with an adequate level of protection of property rights and legal institutions, public investment is strongly linked to growth. The report also makes a strong case for private investment in services and manufacturing as engines of job creation and income growth in the region.

Keywords: Macroeconomics; and; Economic; Growth-Commodities; International; Economics; and; Trade; Private; Sector; Development; Macroeconomics; and; Economic; Growth-Development; Economics; &; Aid; Effectiveness (search for similar items in EconPapers)
Date: 2011-09
Note: ISBN 978-0-8213-9888-3
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Citations: View citations in EconPapers (10)

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