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MIDDLE EAST: LOOKING AHEAD
Toward Prosperity for All
Arab countries in transition need a guiding vision for the future
Freedom and Bread Go Together
Economic reforms in the Arab world must be implemented in parallel with political change
Social justice must be at the foundation of Arab economic reforms
Nada al-Nashif and Zafiris Tzannatos
As a Matter of Finance
To help boost economic growth, Arab countries need a stable supply of funds and better access to credit
Adolfo Barajas and Ralph Chami
Point of View: Business, Not as Usual
Private enterprise, driven by a nascent middle class, is the key to successful democratic transition in the Middle East
Straight Talk: Defining Moment
Only by opening up will the Arab countries in transition achieve the broad-based growth their societies so desperately need
Picture This: Trade, Growth, and Jobs
Closer trade integration would reward countries in the Middle East with increased growth and jobs
ALSO IN THIS ISSUE
On the Rise
High prices and new technology have triggered a sudden surge in oil and gas production in the United States that could shake up global energy markets
Held Back by Uncertainty
Recoveries are slowed when businesses and consumers are unsure of the future
Nicholas Bloom, M. Ayhan Kose, and Marco E. Terrones
Degrees of Development
New data suggest that the higher the educational attainment of civil servants the better a country’s economic outcomes
Rabah Arezki and Marc Quintyn
Mexico’s newfound competitiveness helps it regain a share of the U.S. import market it had lost to China
Herman Kamil and Jeremy Zook
People in Economics
The $787 Billion Question
Maureen Burke profiles Christina Romer, former chair of the U.S. Council of Economic Advisers
Back to Basics
What Are Structural Policies?
Monetary and fiscal policies deal with short-term economic fluctuations, but an economy’s problems often go deeper
The Battle of Bretton Woods: John Maynard Keynes, Harry Dexter White, and the Making of a New World Order, Benn Steil
The Bankers’ New Clothes: What’s Wrong with Banking and What to Do about It, Anat Admati and Martin Hellwig
The Great Indian Phone Book, Robin Jeffrey and Assa Doron
The number of Africans with access to banking and other financial services is growing Luca Errico, Goran Amidzic, and Alexander Massara
Illustration: pp. 42–43, Seemeen Hashem/IMF.
Photography: Cover, Maya Alleruzo/AP/Corbis; p. 2, Salem Krieger/Corbis, Michael S. Yamashita/National Geographic Society/Corbis, Philippe Lissac/Corbis; p. 3, Imaginechina/Corbis, Michael S. Lewis/National Geographic Society/Corbis; p. 4, Noah Berger Photography; p. 8, Luis Otero/Hemis/Zumapress.com; pp. 8–9, iStockphoto.com/Lorna Piche; p. 10, Mohammed Vifo/UPI/Newscom; p. 12, Chokri Mahjour/Zumapress.com; p. 14, Adham Khorshed/Demotix/Corbis; p. 18, Ali Arkady/Metrography/Corbis; p. 22, Bilal Hussein/Associated Press; pp. 26–27, Dirk Panier/arabianEye/Corbis; p. 30, Michael Spilotro/IMF; p. 32, Kadari Mohamed/Xinhua/Zumapress.com; p. 33, Phil Weymouth/Bloomberg via Getty Images; p. 34, Orlin Wagner/Associated Press; p. 38, iStockphoto; p. 48, Keith Dannemiller/Corbis.