Finance & Development, March 2013

Finance & Development, March 2013 Synopsis

Two years ago, citizens in the Arab world-fired by their ideals and visions of a better life-ignited a social movement that inspired people around the globe. In Egypt, Jordan, Libya, Morocco, Tunisia, and Yemen-the so-called Arab countries in transition-people embraced change, ushering in a new era.

This issue of F&D looks at the difficulties of this transition, focusing on long-standing forces that shape the region's economy and offering options for moving ahead to achieve strong, inclusive growth. * Masood Ahmed, Director of the IMF's Middle East and Central Asia Department, maps out an agenda for modernizing and diversifying the region's economies in "e;Toward Prosperity for All."e; * In "e;Freedom and Bread Go Together,"e; Marwan Muasher addresses the intersection of economic progress and political change.

* Vali Nasr, in a Point of View column, underscores the vital role small and medium-sized enterprises play in a successful democratic transition.

Elsewhere in this issue, we look at how surging oil and gas production in the United States could shake up global energy markets; the effect of uncertainty on economic growth; and Mexico's competitiveness rebound. F&D's People in Economics series profiles Christina Romer, former chair of the U.S. Council of Economic Advisers and an architect of the U.S.

stimulus package; and the latest installment in our Back to Basics series explains how structural policies help to both stabilize and strengthen economies.