The Impact of the Arab Spring on the Economy Term Paper

The Impact of the Arab Spring on the Economy - Term Paper Example The reasons that are attributable to the protests include rampant and endemic corruption by the ruling class and the suppression of the freedom of free speech in the countries. For instance, police brutality, extra-judicial imprisonment and limited political freedom due to dictatorial regimes were common in Egypt, Tunisia, and Libya. Demographic structural factors such as extreme poverty, a large number of uneducated youths and unemployment caused the violent protests in Tunisia. The rapid growth of the use of social networks and internet penetration in some countries allowed citizens to have new avenues of debate and arranging public demonstrations outside regime control. In some countries, interim military governments had to be established following the violent killings and ouster of the autocratic governments and subsequent instability. Some countries affected by the Arab Spring include Tunisia, Algeria, Jordan, Oman, Egypt, Yemen, Bahrain, Libya, Morocco, and Syria. According to the International Monetary Fund, the affected countries collectively incurred more than the US $ 56 billion in losses with about the US $ 35 being lost through inflation and rising business costs. The paper will discuss the impact of Arab spring in different economies (Anders 10). Protests against long-serving President Ben Ali were sparked by the acts of a young street vendor who set himself on fire due to continuous harassment by the police authorities. Though the President responded to the demonstrations through shutting down the internet, arresting the demonstrators, reshuffling his cabinet and promising more job creation, the protestors were eager to oust him out of office. Ben Ali was forced to flee the country to Saudi Arabia together with his close family.