By Jeffrey B Nugent, Hashem Pesaran
This booklet is ready the center East and North Africa (MENA) zone. This area is mostly perceived as having skilled the main disappointing development functionality over the past couple of many years of any area on the earth with the potential exception of Sub-Sahara Africa. regardless of the areas mammoth endowment of typical assets, its consistent with capita source of revenue is usually seen as having stagnated. even as, so much economies of the area were characterised through super excessive volatility, a situation in basic terms in part as a result of the fluctuating rate of oil. MENA sector has now not been as comprehensively lined as different areas of the realm (i.e., Latin the United States, East Asia, South Asia and Sub-Sahara Africa). The prominence of the MENA zone within the worldwide strength markets and the area political procedure makes this an important learn. the subjects of curiosity are huge ranging and numerous, starting from dictatorships, civil wars, terrorism and water shortages, to extra fiscal difficulties coming up from unstable oil costs, boundaries to exchange and international funding, dominance of public agencies, and coffee ability paintings forces.
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Additional info for Explaining Growth in the Middle East
2 a Source: World Bank, World Development Indicators, 2005, CDROM. Askari, Nowshirvani and Jaber (1997, p. 67). The 1997–2001 ﬁgures are calculated from remittance data of Gulf News Online quoted in Alexander’s Gas & Oil Connections and The GCC Economic Bulletin, 2002. Figures for 2001 are calculated from World Development Indicators and Gulf Research Center, 2004. 0) differ rather signiﬁcantly from those calculated using Gulf News Online and The GCC Economic Bulletin, 2002. Ã For the year 2002.
What explains whether the changes are in a liberalizing direction or a tightening direction? What explains which things are liberalized and which are tightened? What effects do these policies, institutional and other changes have on subsequent performance in individual countries? To what extent can one generalize? It is hoped that the following chapters will be useful in shedding light on these and other related questions. 7. Contributed papers The contributed papers are organized in two parts.
Springborg (2001), Globalization and the Politics of Development in the Middle East, Cambridge: Cambridge University Press. Hoekman, B. and J. Zarrouk (editors) (2000), Catching up with the competition: trade opportunities and challenges for Arab countries, Ann Arbor: University of Michigan Press. Hotelling, H. (1931), ‘‘The economics of exhaustible resources’’, Journal of Political Economy, Vol. 39, pp. 137–175. Issawi, C. (1982), An Economic History of the Middle East and North Africa, London: Methuen.