Front Matter Page

FINANCE & DEVELOPMENT

A Quarterly Publication of the International Monetary Fund

December 2017 | Volume 54 | Number 4

Front Matter Page

F&D FINANCE & DEVELOPMENT

A Quarterly Publication of the International Monetary Fund

EDITOR-IN-CHIEF:

Camilla Lund Andersen

MANAGING EDITOR: Maureen Burke

SENIOR EDITORS:

Natalie Ramírez-Djumena

James L. Rowe, Jr.

Chris Wellisz

ASSISTANT EDITORS:

Bob Ahmed

Eszter Balázs

Bruce Edwards

Maria Jovanović

ONLINE EDITORS:

Marie Boursiquot

Lijun Li

PRODUCTION MANAGER:

Niccole Braynen-Kimani

COPY EDITOR:

Lucy Morales

ADVISORS TO THE EDITOR:

Bernardin Akitoby

Celine Allard

Bas Bakker

Steven Barnett

Nicoletta Batini

Helge Berger

Paul Cashin

Adrienne Cheasty

Luis Cubeddu

Alfredo Cuevas

Rupa Duttagupta

Thomas Helbling

Laura Kodres

Tommaso Mancini Griffoli

Gian Maria Milesi-Ferretti

Inci Otker-Robe

Catriona Purfield

Uma Ramakrishnan

Abdelhak Senhadji

Alison Stuart

© 2017 by the International Monetary Fund. All rights reserved. For permission to reproduce any F&D content, submit a request via online form (www.imf.org/external/terms.htm) or by e-mail to copyright@imf.org. Permission for commercial purposes also available from the Copyright Clearance Center (www.copyright.com) for a nominal fee.

Opinions expressed in articles and other materials are those of the authors; they do not necessarily reflect IMF policy.

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The English edition is printed at Dartmouth Printing Company, Hanover, NH.

Finance & Development is published quarterly by the International Monetary Fund, 700 19th Street NW, Washington, DC 20431, in English, Arabic, Chinese, French, Russian, and Spanish. English edition ISSN 0145-1707

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Contents

There has never been a more critical time to focus on the region’s untapped potential.

THE MIDDLE EAST IN FLUX

  • A Time for Action

    Countries of the Middle East and North Africa have an opportunity to pursue the reforms needed to ensure prosperity for decades to come

    JihadAzour

  • Point of View: Nascent Hopes

    The Arab uprisings may have set in motion a long-term transformation in the region

    Marwan Muasher

  • Getting There

    Oil-producing countries must focus on how to diversify their economies

    Rabah Arezki

  • The Cost of Conflict

    Middle East strife is exacting a heavy toll on regional economies

    Phil de Imus, Gaëlle Pierre, and Björn Rother

  • Technology’s Promise

    Governments in the Middle East are hoping digital entrepreneurs will spur economic growth—and create jobs for young people

    Campbell MacDiarmid

  • Bias and Barriers

    Raising women’s labor force participation in the Arab world could boost economic growth, but there are deeply rooted obstacles

    Nazila Fathi

  • In the Trenches: Overcoming Resistance

    Ibrahim Saif discusses why building consensus is key to successful energy subsidy reform

ALSO IN THIS ISSUE

  • The Presource Curse

    Oil discoveries can lead first to jubilation then to economic jeopardy

    James Cust and David Mihalyi

  • Global Finance Resets

    The decline of cross-border capital flows signals a stronger global financial system

    Susan Lund and Philipp Härle

  • Reaching Poor People

    Sobering evidence from Africa illustrates how hard it is to target antipoverty efforts well

    Caitlin Brown, Martin Ravallion, and Dominique van de Walle

DEPARTMENTS

  • People in Economics

    Late Bloomer

    Chris Wellisz profiles David Autor, the MIT economist who has done pathbreaking work on the effects of imports on the US labor market

  • Picture This

    Heating Up

    Poor countries bear the brunt of climate change, but they are in the worst position to do so

    Maria Jovanovic

  • Book Reviews

    Economics for the Common Good,

    Jean Tirole

    How Global Currencies Work: Past, Present, and Future, Barry Eichengreen, Arnaud Mehl, and Livia Chiţu

    Straight Talk on Trade, Dani Rodrik

  • Currency Notes

    Critical Reception

    The new Jane Austen banknote is not universally embraced

    John Bishop

Finance & Development, December 2017
Author: International Monetary Fund. External Relations Dept.