The Arab world has seen many important shifts over the past decade. Almost ten years of relatively high economic growth slowed significantly with the global economic and financial crisis of 2008-2009. More recently, a wave of protests driven by longstanding socio-political and economic issues spread across several countries, leading to instability and the fall of the regimes in Tunisia, Egypt, and (after months of a violent revolution) Libya. These events – commonly known as the “Arab Spring” – have spurred major political changes, notably in Tunisia and Egypt, where new constitutions are being drafted and entirely new governments elected. Yet, political changes will have to be accompanied by structural economic reform if the root causes of the current events in the region are to be addressed.