By Ahmed Galal, Bernard M. Hoekman
Regardless of a variety of makes an attempt within the moment 1/2 the 20 th century, Arab states haven't been profitable in forming a neighborhood monetary bloc. exchange one of the Arab states is still hampered by means of excessive price lists and customs and transportation bottlenecks. Integration efforts are principally restricted to makes an attempt at lowering exchange obstacles in items and feature now not prolonged to the provider zone. whereas labour mobility is a bit of obtrusive, capital mobility in the area is still restricted. the continuing liberalization of exchange in items in the course of the better Arab unfastened exchange sector, scheduled for entire implementation in 2007, brings renewed curiosity to a longstanding target. This quantity examines the industrial and political incentives surrounding Arab local integration. The participants concentrate on 3 concerns: the failure of earlier makes an attempt at integration, the influence on international locations all for any destiny integration and the prospective classes from different local stories, really the eu Union. a standard subject matter is the significance of extending the achieve of cooperation efforts past exchange in items.
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Extra resources for Arab Economic Integration: Between Hope and Reality
Zarrouk. University of Michigan Press. Hoekman, Bernard. 1998. ” In Prospects for MENA Economies, edited by Nemaat Shafik. London: Macmillan. Hoekman, Bernard, and others. 1998. S. Free Trade Agreement, edited by Ahmed Galal and Robert Z. Lawrence, 79–110. Brookings. Hudson, Michael. 1999. ” In The Middle East Dilemma, edited by Michael Hudson. Center for Contemporary Arab Studies, Georgetown University. Konan, Denise, and Keith Maskus. 1997. ” In Regional Partners in Global Markets: Limits and Possibilities of the Euro-Med Agreements, edited by Ahmed Galal and Bernard Hoekman, 156–177.
This chapter reports the results of a survey that was undertaken in 2000 to improve understanding of the trading constraints that hinder the development of private businesses in the Arab countries. The purpose of the survey was threefold: first, to generate information on trading costs and trade policies that impose burdens on intraregional trade and investment; second, to shed further light on the operations of the intraregional trade agreements prevailing among many of the countries in The views expressed in this chapter are those of the author and should not be attributed to the Arab Monetary Fund.
The region encompasses 14 million square kilometers, almost equal in size to the EU and three-quarters the size of Latin America. It holds 5 percent of the world’s population. Moreover, the distribution of labor, capital, and natural resources is quite uneven. Why then is there such a low level of integration? The literature on economic incentives has evolved over time. When most countries were following import-substitution strategies with the twin features of protection and state domination, traditional customs union theory focused on the effects on trade promotion of removing tariff barriers, the so-called static gains.