Description

This important book on economic development in the modern Middle East examines, for the first time, the separate national economies of the Arab states, including the Gulf, Israel, and Turkey, from 1918 to the present. It describes the main trends within each economy based on the best available statistical data, and answers larger questions concerning the long-term growth of the countries, first in the colonial period, then in the periods characterized by planning and development, followed by the first steps toward liberalization and structural adjustment. It evaluates government policy in promoting the protection of imports and in advancing market economies. Policies employed by the oil-producing states to build new institutional structures based on near unlimited supplies of capital and labor are also examined. The Middle East economies are placed in their proper international context, and questions of colonialism and labor migration are discussed. The authors evaluate where the Middle Eastern economies are now, and speculate about how they may develop in the future.