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31. Tunisia’s Turbulence: On the Road to Economic and Political Collapse

Author:
Daniel Zisenwine
Publication Date:
04-2022
Content Type:
Commentary and Analysis
Institution:
Moshe Dayan Center for Middle Eastern and African Studies
Abstract:
Thousands of Tunisians took to the streets of the capital Tunis in mid-March, demonstrating against Tunisian president Kais Saied’s July 2021 power grab and the country’s ongoing economic crisis. Citing alleged threats to Tunisia’s political order, Saied dismissed the government on July 25, 2021, suspended parliament, and moved to rule by decree. Critics, including opposition Islamist parties but also the country’s powerful trade unions, civil society groups, and foreign experts have since assailed Saied’s moves, contending that he effectively re-imposed one-man rule on Tunisia, and secured unchecked control over all branches of government. This political crisis intensified in late March, after Saied dissolved the Tunisian parliament which convened online and voted to repeal his decrees. The March protest differed from previous ones, as it was organized by the anti-Islamist Free Destourian Party (FDP), which has been critical of democratic measures adopted in Tunisia after the 2011 revolution that overthrew Zayn al-ʾAbidin Ben ʿAli’s authoritarian regime. The protest, led by a right-wing party not unsympathetic to some of Saeid’s grievances, focused on the president and the deteriorating economic crisis.[1] It was another indication of Tunisia’s growing unrest.
Topic:
Politics, Democracy, Civil Unrest, Economic Crisis, and Instability
Political Geography:
North Africa and Tunisia

32. What happened to the Turkish Lira?

Author:
Güven Sak
Publication Date:
02-2022
Content Type:
Working Paper
Institution:
Moshe Dayan Center for Middle Eastern and African Studies
Abstract:
In our latest issue of Turkeyscope, Dr. Guven Sak delves into the core reasons for Turkey's current currency and economic crisis along with an explanation for the political reforms needed to stabilize the Turkish markets.
Topic:
Markets, Politics, Reform, Currency, and Economic Crisis
Political Geography:
Turkey, Middle East, and Mediterranean

33. The Turkish Economy in Flames

Author:
Hay Ertan Cohen Yanarocak
Publication Date:
10-2022
Content Type:
Working Paper
Institution:
Moshe Dayan Center for Middle Eastern and African Studies
Abstract:
This issue of Turkeyscope focuses on the deteriorating Turkish economy and Lira's devaluation. By analyzing the Turkish government's policies at various critical junctions Dr. Hay Eytan Cohen Yanarocak's article highlights the negative impact of the current crisis on Turkish society.
Topic:
Economy, Currency, Society, and Economic Crisis
Political Geography:
Turkey and Middle East

34. Economic crisis in the Middle East and North Africa

Author:
Marek Dabrowski and Marta Dominguez-Jimenez
Publication Date:
01-2021
Content Type:
Policy Brief
Institution:
Bruegel
Abstract:
In the 2010s, the economic situation in the Middle East and North Africa (MENA) deteriorated as a result of lower oil and other commodity prices, a new round of domestic political instability, continuous intra-regional conflicts, stalled economic and governance reforms and, finally, the COVID-19 pandemic. The growth of real GDP, which slowed after the global financial crisis of 2008-2009, further decelerated in the second half of the 2010s and became negative in 2020 as result of the COVID-19 shock. Fiscal balances have deteriorated, even in the oil-exporting countries, and public debt has grown rapidly. MENA countries continue to face numerous long-term socio-economic and institutional challenges including high unemployment (especially youth unemployment), low female labour-market participation rates, the poor quality of education, costly and ineffective public sectors, high military and security spending, high energy subsidies and trade protectionism. Only comprehensive long-term reform programmes can address these challenges. The European Union is MENA’s second largest trading partner after the region itself, and is one of two main sources of foreign direct investment and a major aid donor. However, given the critical importance of the MENA region to its own security and stability, the EU’s engagement in conflict resolution and in supporting economic and political transformation of the region is insufficient and should be intensified. The EU should also update and upgrade its existing association agreements with the countries of the Southern and Eastern Mediterranean, including their free trade provisions.
Topic:
International Trade and Finance, Governance, European Union, Trade, COVID-19, and Economic Crisis
Political Geography:
Europe, Middle East, and North Africa

35. Reforms and Opening of China's Financial System

Author:
Marcos Caramuru, Kamila Aben Athar, Karin Vazquez, and Yan Lan
Publication Date:
05-2021
Content Type:
Special Report
Institution:
Brazilian Center for International Relations (CEBRI)
Abstract:
China has been the country to better recover from the economic crisis of the pandemic. Its FDI increase, many trade agreements being signed and the Chinese Central Bank deciding to launch a new digital currency are some of the highlights. However, there are still challenges on the horizon and the main one is the relationship with the United States, which has hit a historic low point. Future Beijing-Washington talks, and the results of the many internal and external economic reforms will define China’s role for the next few years. The report summarizes the main finding, analysis and conclusion of the XXIII China Analysis Group Meeting, with the participation of Yan Lan, CEO of Lazard, Anna Jaguaribe, Ambassador Marcos Caramuru and Karin Vazquez.
Topic:
Reform, Finance, and Economic Crisis
Political Geography:
China, Asia, and United States of America

36. Emigration and Fiscal Austerity in the Greek Depression

Author:
Eugenia Vella
Publication Date:
05-2021
Content Type:
Policy Brief
Institution:
Hellenic Foundation for European and Foreign Policy (ELIAMEP)
Abstract:
What is the role of emigration in a deep recession when the government implements fiscal consolidation? Our macroeconomic model simulations show that fiscal austerity accounts for 1/3 of the output drop in the Greek Depression and more than 10% of migration outflows. In a no-emigration counterfactual scenario, the model predicts a smaller output fall by 20%. We also uncover a novel bi-directional link between emigration and austerity. On the one hand, labour income tax hikes induce prolonged migration outflows, while spending cuts exert a smaller effect. On the other hand, emigration increases the required tax hike and time to meet a given debt target due to endogenous revenue leakage. In terms of unemployment, temporary gains from emigration are reversed over time.
Topic:
Austerity, Fiscal Policy, Emigration, and Economic Crisis
Political Geography:
Europe and Greece

37. Greek Diaspora in an uncertain world

Author:
Othon Anastasakis and Antonis Kamaras
Publication Date:
04-2021
Content Type:
Working Paper
Institution:
Hellenic Foundation for European and Foreign Policy (ELIAMEP)
Abstract:
Greece’s fiscal crisis has energized its relationship with its diaspora in the last several years, after decades of decline, as well as reshaping the diaspora itself due to the massive crisis-driven migration. Research institutes as well as individual scholars have addressed key aspects of the diaspora and homeland relationship prior to and during the crisis. South East European Studies at Oxford (SEESOX) established in 2015 the Greek Diaspora Project, a dedicated research unit which has applied the well-established diaspora and development literature to the Greek case, in the crisis and post-crisis years. The opportunities for synergistic research between University centers and think tanks located in Greece and abroad, in satisfactorily addressing this crisis-driven transformation of the diaspora & homeland relationship, are compelling. SEESOX and ELIAMEP have thus decided to collaborate so they can catalyse such synergies both between themselves and with universities in Greece and abroad. SEESOX’s and ELIAMEP’s joint endeavor will be resolutely comparative as well as cross-disciplinary, reflecting both the requirements of a highly advanced diaspora studies prospectus as well as the respective strengths of the two partners.
Topic:
Migration, Diaspora, and Economic Crisis
Political Geography:
Europe and Greece

38. Fixing the Economy and Public Service Provision in Lebanon

Author:
Amal Bourhrous
Publication Date:
12-2021
Content Type:
Policy Brief
Institution:
Stockholm International Peace Research Institute (SIPRI)
Abstract:
The limited accountability and weak institutions of Lebanon’s sectarian power-sharing system have had a severe impact on the country’s economy and the state’s ability to provide basic public services. Protesters have repeatedly voiced discontent with a political system that facilitates corruption and allows self-serving political and sectarian elites to capture public resources and escape accountability. Many have called for the sectarian power-sharing system to be transcended. Although a comprehensive reform of the political system remains a remote prospect, there is an urgent need to address the grievances of Lebanese people within the system. Based on interviews with current and former government-level officials and experts in Lebanon, this policy brief presents recommendations on what can be done within the existing system to fix the economy and public service provision.
Topic:
Governance, Public Service, and Economic Crisis
Political Geography:
Middle East and Lebanon

39. Managing Lebanon’s Compounding Crises

Author:
International Crisis Group
Publication Date:
10-2021
Content Type:
Special Report
Institution:
International Crisis Group
Abstract:
Lebanon is suffering economic meltdown while its politicians dither. Reform – and fiscal relief – is unlikely before 2022 elections. While pushing for timely polls, international partners should send humanitarian assistance to ease the public’s pain, keep key infrastructure running and avert security breakdowns.
Topic:
Economics, Infrastructure, Humanitarian Crisis, and Economic Crisis
Political Geography:
Middle East and Lebanon

40. Understanding Political and Social Unrest in Bolivia

Author:
Juan Esteban Mosquera
Publication Date:
03-2021
Content Type:
Commentary and Analysis
Institution:
Armed Conflict Location & Event Data Project (ACLED)
Abstract:
Since 2019, Bolivia has been in a state of political turmoil. Accusations of election fraud during the presidential election that year led to the resignation of longtime President Evo Morales. This event motivated many Bolivians, including supporters of Morales’ party, the left-wing Movement for Socialism (MAS), to demand more transparency from both government institutions and political parties. As MAS has returned to power with the election of President Luis Arce in 2020, members and supporters of the party have demonstrated to call for more open political processes. Recent mobilization has centered on the selection process for municipal candidates amid questions over Morales’ continued control of the party. Aggravating the political unrest, Bolivia now faces an unprecedented economic crisis amplified by the coronavirus pandemic (Societe Generale, 31 October 2020). In the midst of political and economic tensions, municipal elections were carried out on 7 March 2021. Preliminary pool results indicate that MAS candidates are behind in at least 10 large cities (El Deber, 8 March 2021). Though it will take weeks to see official results for different levels of the government, the outcome will have significant repercussions for Bolivia’s political stability in the coming years.
Topic:
Elections, Demonstrations, Civil Unrest, and Economic Crisis
Political Geography:
South America and Bolivia