ABSTRACT
In the mid-1990s, a more reformist and outward-looking policy perspective has emerged in the Middle East and North Africa (MENA) region. While this may partly be viewed as a response to the unsatisfactory growth record in the previous decade, it also seems to reflect coalition realignments seeking a faster trade integration with the world economy, greater scope for private sector development and wider access to international capital. In the new policy setting, the revitalization of state-owned enterprise (SOE) reform and privatization gains a critical importance. The unprecedented surge in world-wide privatization also provides a supportive international context for robust public-sector reforms in the MENA region.
