Events
The 18th Annual Conference of the Arab Society for Economic Research
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The Arab Society for Economic Research and the Policy Center for the New South are jointly organizing the 18th Annual Conference of the Arab Society for Economic Research titled “The Future of Arab Economies: Disruptors and Reforms” that will be taking place at the Policy Center for the New South on November 28th-29th.
The economic and development performance of Arab states has varied over the past decades. However, most have not succeeded in achieving comprehensive and sustainable economic growth. As a result, large segments of Arab populations continue to endure low living standards and declining quality of life indicators, which are central objectives of all sustainable development plans and programs. Additionally, even countries that have achieved high economic growth rates and significantly improved their citizens' living standards and quality of life have primarily done so by relying on a single depletable resource. This reliance threatens the sustainability of their achievement, especially given the expectations that the importance of oil and natural gas in energy production will decline in the coming decades. A multitude of rigorous scientific studies and reports have primarily attributed the issues mentioned above to a slowdown in the pace of structural reforms across almost all Arab countries. This slowdown has resulted in the failure to achieve the structural transformation and economic diversification required to sustain high-quality economic growth rates. It is not an exaggeration to state that this scenario is common among many developing countries that have not escaped the "middle-income trap" and, consequently, have not met the targets set by the UN Sustainable Development Goals (SDGs). Despite more than half of the allocated time for achieving these goals having elapsed, UN figures indicate that only 12% of the world's countries are on track to meet the goals by 2030. Over 50% of countries remain far from this path, and the development situation in 35% of the world's countries is worse than it was in 2015. Unfortunately, the vast majority of Arab countries fall into the latter two groups, despite having integrated these goals into their national strategies and plans. These unsatisfactory results can mainly be attributed to the lack of or delay in implementing the necessary structural reforms. However, the economic situation is further deteriorated by the acceleration of various "disruptors" affecting the global economic landscape in general, and Arab and developing economies in particular. These disruptors include global financial and economic crises, geopolitical conflicts, military conflicts and security disruptions, health pandemics, volatility in global supply chains, rising food prices, instability in national exchange rates, cyber risks, climate change, technological advancements, trade conflicts and other ongoing challenges. These issues, combined with serious structural challenges have weakened the resilience of Arab economies and their ability to achieve the aspirations of their people for sustainable development and a decent quality of life.
Given this context, the Eighteenth Scientific Conference of the Arab Society for Economic Research, proposed to be entitled "The Future of Arab Economies: Imposed Disruptors and Desired Reforms", is of paramount importance. The sessions and papers presented during this conference should address the following key areas:
First: Change and instability in the international economic structure and its impact on inclusive economic growth in Arab countries.
1- The impact of successive changes and disruptors on the future of Arab economies:
This section will feature a comprehensive paper analyzing various external disruptors that have occurred over the past decade and their impacts on economic growth in Arab countries.
2- The impact of external crises and shocks on inclusive economic growth in Arab countries:
This analysis will focus on how significant disruptors have affected Arab economies across different sectors. Specific areas of focus include, but not limited to:
- Global financial and economic crises
- The COVID-19 pandemic
- Climate change
- Geopolitical conflicts.
- Protectionist trade policies and their impact on supply chain dynamics
- Military conflicts and security disturbances
Multiple papers will be presented, each addressing one of the aforementioned disruptors. These papers should explore the causes of these disruptors and their global implications, with a particular emphasis on their effects on Arab countries.
Second: Foreseeing the impact of a new global financial system on the economies of Arab countries amidst existing and emerging blocs.
1- The impact of emerging exchange rate mechanisms on monetary and financial stability and economic growth in Arab countries:
This section will focus on analyzing how the orientation of new global blocs (such as BRICS) towards new exchange rate mechanisms, and financial settlements for intra- regional trade affects Arab countries. Special attention will be given to the implications of several Arab countries joining these new blocs, and the resultant impacts on national exchange rates, inflation targeting, levels of intra-Arab trade, and trade with the wider world.
2- Foreseeing the requirements of fiscal and monetary policies and the importance of their efficient management to face the expected disruptions in exchange rates and their impact on inflation rates:
Papers submitted to this part should analyze and discuss the fiscal and monetary policies necessary for maintaining exchange rate stability and managing inflation in most Arab countries. It should address the expected disruptions stemming from global transformations in economic and political blocs.
3- The disruptions in the development of external debt and their impacts on Arab economies:
Papers submitted to this subsection should explore the impact of the worsening external indebtedness- resulting from various disruptors - on the future and sustainability of economic growth in Arab countries. It should also examine the potential effects of anticipated global changes in financial settlement systems and exchange rates on growth, and financial and monetary stability in Arab countries.
4- Economic diversification policies as a tool to confront the expected disruptors from the emergence of a new global financial system and its impact on the external debt crisis in Arab countries:
The Analysis in the papers submitted to this part should highlight economic diversification as a crucial strategy to mitigate disruptors, particularly in light of rising external debt levels in many Arab countries. The focus should be on economic diversification in homogeneous Arab regions, such as the Arab oil countries and the Arab Mashreq countries, assessing their chances of success and their impact on the future sustainability of economic growth and it’s in these regions.
Third: Technological innovations and their relationship to inclusive economic growth in Arab countries.
1- Technologies of the Fourth and Fifth Industrial Revolution and their impact on stimulating inclusive economic growth:
Papers in this section should analyze and discuss the technologies of the Fourth and Fifth Industrial Revolutions and their impacts on stimulating inclusive economic growth in Arab countries. The analysis should include lessons learned from the most successful Arab experiences in leveraging these technologies to enhance economic growth opportunities.
2- Challenges facing technology transfer and localization and the institutional capacity to address them efficiently and fairly:
This section will explore the challenges of technology transfer and localization in Arab countries, highlighting variations in these challenges across different Arab regions (Oil countries - Arab Mashreq countries - Maghreb countries).
3- Risks and threats of technological developments, digital transformation and artificial intelligence to labor markets in Arab countries:
Focus will be on analyzing the impact of modern technology on labor markets, the relationship between workers and smart machines, and how these dynamics affect productivity and inclusive growth in Arab countries.
Fourth: Policies for prioritization and enhancing the resilience of Arab economies to shocks and speedy recovery: Desired reforms.
1- Importance of early warning systems and predictive measures to enhance economic resilience:
This section will analyze successful experiences with early warning systems, how they predict external risks, and propose policies for effective crisis management in Arab economies.
2- Policies to promote investment in innovation, digitization, data analysis and artificial intelligence:
Analysis and discussion will focus on the incentives and investment environment required to stimulate these types of investments. The role of innovation and digitization in strengthening Arab economies, enhancing resilience, and accelerating economic recovery will also be covered.
3- Policies to activate and enhance the role of the private sector in economic activity:
This section will analyze the evolving roles of the state and the private sector in economic activity. It will discuss policies aimed at achieving a balance between these roles to ensure efficient resource use, enhanced competitiveness, and fair market competition in Arab economies).
4- Promoting joint Arab economic action to overcome the disruptors and risks and their impact on inclusive economic growth:
Focus will be on analyzing proposed areas of joint Arab economic cooperation, such as research and development activities (R&D), fiscal and monetary policy coordination, data and information exchange, and investments in innovation and creativity. The analysis will adopt a forward-looking perspective without delving into past Arab cooperation stages and forms.
