Middle East and Central Asia > Tunisia

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Shahid Yusuf
Since the onset of the Arab Spring, economic uncertainty in Egypt, Jordan, Libya, Morocco, Tunisia, and Yemen (Arab Countries in Transition, ACTs) has slowed already sluggish growth; worsened unemployment, particularly of youth; undermined business confidence, affected tourist arrivals, and depressed domestic and foreign direct investment. Furthermore, political and social tensions have constrained reform efforts. Assessing policy options as presented in the voluminous literature on the Arab Spring and based on cross-country experience, this paper concludes that sustainable and inclusive growth calls for a two pronged approach: short term measures that revive growth momentum and partially allay popular concerns; complemented with efforts to adjust the public’s expectations and prepare the ground for structural reforms that will deliver the desired longer tem performance.
Jean-François Ruhashyankiko
This paper explores the link between exchange rate volatility of European currencies and economic performance of several countries in the Middle East and North Africa (MENA). The elimination of intra euro-zone exchange rate volatility resulting from the introduction of the euro is estimated to affect the production structure of MENA economies and shift their exports from manufacturing to agriculture and services. At the country and industry levels, the impact of the euro is more striking in countries with higher shares of manufacturing and higher shares of exports to the euro zone.
Sayuri Shirai
Using the international input-output tables between Japan and five Pacific Basin countries (Indonesia, Korea, Malaysia, Singapore, and Thailand) for the years 1975 and 1985, the paper examines the trade structure in 1975 and how it had shifted by 1985. It shows that intra-industry trade in manufactured products expanded as Japan increased imports of more capital-intensive products from these countries. Intra-industry trade of intermediate inputs increased substantially more than of final products, reflecting a trend by manufacturers to subdivide the production process of intermediate inputs and to shift their locations to different countries. This suggests a more active development of international labor in the intermediate stages of production and a deepening of regional linkages.