The countries of the Middle East and North Africa, and the Caucasus and Central Asia have the highest output volatility in the world. Fiscal policy is a powerful tool that can help dampen the business cycles. This paper analyzes the cyclical properties of fiscal policy in the region during the...

The future prosperity of most people of the Middle-East and North Africa—and the social cohesion of their countries—rests in great part on the ability of governments to enable the private sector to respond to this job creation challenge. This is what this report is about. It is about...