Maghreb Regional and Global Integration: A Dream to Be Fulfilled

by Gary Clyde Hufbauer (Editor), Claire Brunel (Editor)

Overview

Increasing terrorist activity has led the Maghreb countries—Morocco, Algeria, Tunisia, Mauritania, and Libya—to focus on antiterrorism efforts, unintentionally at the expense of full-fledged economic reform. These countries have tightened their border restrictions on the flow of people and goods, reducing commerce and depressing economic activity. In fact, Maghreb has one of the lowest rates of intra-regional trade in the world; other factors like rigid economic structures, slow productivity growth, and modest investment levels continue to stymie progress toward economic integration. Do these countries' diverse circumstances symbolize insurmountable obstacles in achieving economic cooperation and an improved standard of living for citizens? How can the United States and European Union facilitate economic progress?

Maghreb Regional and Global Integration: A Dream to Be Fulfilled utilizes two distinct econometric tools to assess four key sectors—energy, banking and insurance, transport, and agribusiness—and outlines achievable sector-specific recommendations. This book not only assesses the gains from economic integration among the Maghreb countries, but also focuses on the tangible benefits from enhanced economic ties between the region and the world economy. With this critical analysis, the authors provide an in-depth look at practical measures such as bilateral trade and investment agreements, regional arrangements, and financial assistance that can significantly boost short-term success and ensure long-term gains through integration in an unstable region.

Product Details

ISBN-13:	9780881324945
Publisher:	Peterson Institute for International Economics
Publication date:	10/01/2008
Sold by:	Barnes & Noble
Format:	eBook
Pages:	192
File size:	4 MB

About the Author

Gary Clyde Hufbauer, Reginald Jones Senior Fellow since 1992, was formerly the Maurice Greenberg Chair and Director of Studies at the Council on Foreign Relations (1996–98), the Marcus Wallenberg Professor of International Finance Diplomacy at Georgetown University (1985–92), senior fellow at the Institute (1981–85), deputy director of the International Law Institute at Georgetown University (1979–81); deputy assistant secretary for international trade and investment policy of the US Treasury (1977–79); and director of the international tax staff at the Treasury (1974–76).

Claire Brunel, research assistant at the Peterson Institute for International Economics 2007-09, is a trade policy attaché at the French Embassy. While at the Institute, Brunel focused on trade issues, particularly regarding North Africa, North America, and the European Union. Before joining the Institute, she worked at the European Commission in the Economics and Financial Affairs DG, for BNP Paribas in macroeconomic studies, and for Schroeder Salomon Smith Barney in mergers and acquisitions.

Table of Contents

Preface v

Executive Summary Stuart Eizenstat Gary Clyde Hufbauer ix

Acknowledgments xxiii

1 Introduction 1

2 Political Economy of the Maghreb Claire Brunel 3

3 Maghreb Regional Integration Claire Brunel 7

4 The Maghreb and Other Regional Initiatives: A Comparison Claire Brunel 17

5 Maghreb Trade and Investment Dean DeRosa 23

6 Gravity Model Analysis Dean DeRosa 45

7 Evaluation of Trade Integration using the Mirage Model Marcelle Thomas Mohamed Hedi Bchir Antoine Bouet Betina Dimaranan 69

8 A Unified North Africa on the World Stage: Overview of Maghreb Sector Studies Francis Ghiles 93

9 The Maghreb Energy Sector: Situation and Perspectives Mustapha Faid 101

10 Maghreb Banks and Financial Markets Abderrahmane Hadj Nacer Guillaume Almeras 125

11 Opportunities for Logistical Improvements through Maghreb Integration Hassan Benabderrazik 139

12 Updating the Maghreb Project: The Case of Food Industries Omar Aloui 149

13 Reviving Maghreb Integration: Recommendations Claire Brunel Gary Clyde Hufbauer 163

About the Contributors 173

Index 179