This book discusses and analyzes the major problems confronting the governments of the MENA region, and makes the case why the status quo is unsustainable. These problems include the many institutional deficits in MENA, i.le. the development of new technologies for alternative and renewable energy sources, efforts to use less oil to mitigate climate change, limited arable land to feed rapidly growing populations, youth unemployment, and dependence on oil exports due to lack of diversified economies and lack of favorable business climates. The authors argue that while, historically, oil revenues may have contributed to the maintenance of corrupt institutions and rent seeking among oil-rich nations, the mere presence of such valuable natural resources need not be the problem. For the spirit of the Arab Spring to be successful, the authors posit that the region must adopt significant institutional changes that embrace the rule of law, transparency, democratic accountability, and the protection of human and private rights. To facilitate institutional reform the authors propose a plan of citizen empowerment that would enable a more equitable use of oil wealth leading to more economic and political stability and sustainability. This book is appropriate for students of economics as well as researchers and policy analysts of energy and the economies of MENA.weiterlesen