Contents :
Challenges and Reforms of Economic Regulation in MENA Countries:A Political Economic Approach,? by Jitendra Uttam, underlines the areas offocus of any regulatory reform strategy in the specific context of thepolitical economy of the MENA region. The author argues that the maincharacteristic of the region is its ?anti-productive? bias. This bias hastranslated into ?circulation economies? and ?rentier states? with an ensuingconsumer-led growth. These characteristics are such that any ?best practice?big-bang regulatory reform focusing exclusively on freeing markets could be arecipe for disaster. Instead, the author suggests a ?second-best? approach thatconsists of moving toward freer markets along with an alignment of nationalregulatory patterns much influenced by politics and the dynamics of interestgroups. He proposes a gradual approach toward a pro-competitive free marketsystem where the political structure is also made to conform to this structure.He then proposes sector-specific policy recommendations for internationaltrade, banking, telecommunications, and e-commerce, and highlights somenecessary institutional mechanisms for sectoral regulation.