From Morocco to Iraq, Arab polities and economies appear to be liberalizing. The holding of comparatively free elections, easing of media censorship, and invigoration of associational activity have accompanied relaxation of political control by single parties. Economic liberalization has paralleled these political changes. Privatization, currency devaluations and partial flotations, rejuvenation of capital markets, reductions of subsidies on basic consumer goods, and other elements of economic liberalization packages have been adopted in varying degrees in the political economies of the Arab republics and, to a lesser extent, in the Arab monarchies.