The economics of the Middle East and North Africa (MENA) / Joseph Pelzman.

Format:

Book

Author/Creator:

Pelzman, Joseph, author.

Language:

English

Subjects (All):

Economic policy.

Middle East--Economic conditions.

Middle East.

Economic conditions.

Middle East--Economic policy.

Africa, North--Economic conditions.

Africa, North.

North Africa.

Africa, North--Economic policy.

Economic history.

Physical Description:

xxiv, 509 pages : illustrations ; 24 cm

Edition:

Second edition.

Place of Publication:

New Jersey : World Scientific, [2019]

Summary:

The Middle East and North Africa (MENA) is a large, complex, and diverse region, which faces a wide range of economic issues. The purpose of this book is not to provide a country-by-country study but rather to deal with general themes found in Arab MENA and Israel, such as problems associated with growth and structural change; the role of State-intervention and the development of oligarchies in country-specific local markets; labor market imperfections driven by gender bias; technology gaps and endogenous growth; capital market development in a restricted financial model based on religious constraints; savings and investment behavior in a model of state subsidization and intervention designed to control local development; and the role of the state in inducing bottom-up corruption. This approach helps us to raise general questions about the growth experience of the region as a whole and at the same time focus on key sector issues, such as the relevance of Islamic banking to capital formation and the role for international trade and investment. Data sources used in the volume include country-specific data, World Bank, UN, IMF and OECD. The new chapters added in this 2nd edition include three broad explanations of the Arab Spring. First, the lack of transparent markets; second, the impact of distortionary economic policies; and third, the impact of corruption. Old chapters are revised with updated data, a discussion of the role of the "State" and "Oligarchies" in the economies of all the MENA countries, an in-depth exploration of the investment in human capital and growth and an identification of the most important binding constraints to economic development in the Arab MENA and Israel.

Contents:

Survey of economic outcomes

Role of oligarchies and the state

Islamic versus Jewish economics

Investment in human capital

Labor markets in MENA

The authoritarian bargain

Oil money and the 'Dutch disease' in MENA

Science, technology and innovation in MENA

International trade in MENA

Crony capitalism, inequality and poverty in MENA

The monetary and fiscal economic policies and the "Arab Spring";

The economics of corruption and the "Arab Spring"

Prospects for MENA

muddling or progressing?

Notes:

Includes bibliographical references and index.

ISBN:

9789813203976

9813203978

OCLC:

1041227844