Friedman, Steven J

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  • Publication
    A TALE OF TWO ECONOMIC DEVELOPMENTS: TUNISIA AND MOROCCO
    (2010-04-10) Friedman, Steven J
    Morocco and Tunisia have both achieved robust economic growth over the last 30 years by utilizing prudent economic planning and implementation. The World Bank heralds both countries as prime examples of how market-friendly capitalist systems can be implemented over a short period of time with aggressive goals and benefits for many. The economic policies of Morocco and Tunisia have transformed both from economically challenged debt-burdened nations into technologically advanced, diversified and thriving middle-class nations. From 1962 to the Present Day, Morocco has averaged a GDP growth rate of 5.8% and Tunisia one of 5.1%. To put that in perspective, the World as-a-whole has grown at 2.0% per year and the United States at 1.1% (even the amazing success of China has only produced a GDP growth rate of 9.0%). The purpose of this thesis is to address the underlying causes of this consistently well above average growth in answering several key questions: What policies did the World Bank recommend? What did Moroccan and Tunisian leaders do to implement these policies? What industries and relationships have allowed both to thrive? What is the outlook for both nations?