As a part of the Global Quest initiative, Durgadevi Saraf Institute of Management Studies (DSIMS) had organised a talk on 25th March, 2015 focusing on the Paradigm Shift in Middle Eastern Economies. Prof Nora Ann Colton, Deputy Vice Chancellor (Academic), University of East London delivered the session. Prof Nora discussed about the divergent economic scenario of different Middle Eastern economies. In her discourse she identified the basis of the growing discontent in this region.
From an Economic angle she pointed out at the strong correlation between resources & ensuing conflict. She highlighted that the Arab Spring resulted not because of religion or race but owing to improper allocation of scarce resources.
In her address Dr Nora also discussed the Washington Consensus, highlighting the various problems of multilateral aid allocation through an exposition of real life cases of MENA nations. She opined targeting aid through building sound social infrastructures. She summarised her address by reflecting on effective governance, right education, social & financial inclusion which can be capable of channelizing resources toward productivity gains & the overall growth of these nations.