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Locked Out of Development: Insiders and Outsiders in Arab Capitalism

The political economy of the MENA region remains among the least neoliberal internationally. State intervention and protection for select sectors and actors remains pervasive while elite-level insider cartels remain rooted in licensing, trade protection, and the allocation of subsidies. Labour markets are deeply divided between protected insiders and precarious outsiders. Dr Steffen Hertog’s recently published book, “Locked Out of Development: Insiders and Outsiders in Arab Capitalism”, discusses the economic and fiscal factors of a so-called segmented market economy that contribute to the low dynamism of low- to mid-income Arab economies. Dr Hertog focuses on core members of the region such as Morocco, Algeria, Egypt, Jordan, pre-2011 Syria and pre-2015 Yemen, whose economic structures have not been influenced by major conflicts before the 2010s.
Joining the Forum in Cambridge, Dr Steffen Hertog and Dr Mehmet Erol will discuss Dr Hertog’s findings and the most important economic and fiscal policy challenges today’s Arab economies face.

Mar 1, 2023 06:15 PM in London