The Middle East Economies In Times Of Transition (international Economic Association Series)
by Ahmed Galal /
2016 / English / PDF
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Diwan and Galal looks at the structure and prospects of the Middle
East economies after the 2011 Uprisings, focusing on issues of
economic growth, inequality, the impact of oil, and the unfolding
political transitions.
Diwan and Galal looks at the structure and prospects of the Middle
East economies after the 2011 Uprisings, focusing on issues of
economic growth, inequality, the impact of oil, and the unfolding
political transitions.
On the growth question, the book looks into the extent of
structural transformation of the economy, the political economy
reasons for the lack of structural change, and the external
conditions in the EU and in the GCC that underpin the lack of
structural change. On inequality, the book offers new measures of
equality of opportunity in human development and in the job market,
and it also reviews the complex political economy of subsidy
removal. Regarding natural resources, the volume provides three
innovations: connecting the notion of 'oil curse' to the global
phenomena of asset bubbles; evidence that resource curse effects do
not rise monotonically with the size of the resource rent, but
rather, according to an inverted U shape; and an extension of the
concept of rent to the other non-oil rents that are also
predominant in the region. Finally, the volume places the political
transition in the region in a global perspective using various
methods – theoretical, comparative, and empirical, and it explores
the relationship between democracy in its variety of forms and
economic development.
On the growth question, the book looks into the extent of
structural transformation of the economy, the political economy
reasons for the lack of structural change, and the external
conditions in the EU and in the GCC that underpin the lack of
structural change. On inequality, the book offers new measures of
equality of opportunity in human development and in the job market,
and it also reviews the complex political economy of subsidy
removal. Regarding natural resources, the volume provides three
innovations: connecting the notion of 'oil curse' to the global
phenomena of asset bubbles; evidence that resource curse effects do
not rise monotonically with the size of the resource rent, but
rather, according to an inverted U shape; and an extension of the
concept of rent to the other non-oil rents that are also
predominant in the region. Finally, the volume places the political
transition in the region in a global perspective using various
methods – theoretical, comparative, and empirical, and it explores
the relationship between democracy in its variety of forms and
economic development.
