Economic development in the Middle East /
Rodney Wilson.
London ; New York : Routledge, 1995.
vii, 218 p. : ill.
More Details
London ; New York : Routledge, 1995.
catalogue key
Includes bibliographical references and index.
A Look Inside
Full Text Reviews
Appeared in Choice on 1996-09-01:
This rather brief book on economic development in the Middle East covers numerous pertinent subjects. Designed to increase "economic awareness in the developed industrialized countries" about the area, it is a good introduction for those who would like to obtain a first general overview of the economics of the Middle East. Given the intention of the book, it is understandably less than comprehensive. One chapter, "Islamic Model for Economic Development," provides a description of issues such as sources of Islamic economic philosophy, Islamic views on trade, just reward, giving and receiving interest, taxation, and insurance. Although Wilson considers the development of a regional trade bloc a potentially advantageous concept, he is less than enthusiastic about its prospect in the region. He observes "little sign of any promising regional economic cohesion in the Middle East." The final chapter considers the role of the government. According to the author, being a part of the ruling group means obtaining "maximum economic benefits from expropriation of the nation's resources .... Government parties worldwide represent particular interest groups, but in the Middle East those close to power are often minorities whose membership is closed." Wilson concludes that this has meant top-down policies that have been less than fruitful to the overall long-term development of the economy. Recommended for undergraduate students and general readers. H. Zangeneh Widener University
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Choice, September 1996
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Bowker Data Service Summary
Despite its oil resources, the Middle East is falling behind other regions of the developing world. Rodney Wilson examines the economic prospects for the region considering the falling oil prices, rapid population growth and low savings levels.
Main Description
Economic Development in the Middle Eastexamines the economic indicators of the Middle East which, despite its oil resources, is falling behind other regions of the developing world, notably the countries of South East Asia. Rodney Wilson considers the economic consequences of rapid population gropwth, the absence of significant private capital inflows and foreign investment, fragmentation in the banking system and insignificant bond markets.Economic Development in the Middle Eastalso examines the basic infrastructure, excessive military expenditures, trade, falling oil prices, and deficits. Wilson stresses that both the goals of development and the methods used to promote development have to be reassessed for a region where Islamic value system prevails. Ultimately, development values which respect Muslim values may have a greater chance of sucess than those simply imported from the West.
Back Cover Copy
Despite its oil resources,the Middle East is falling behind other regions of the developing world, notably the countries of East and South East Asia. Rodney Wilson examines the economic prospects for the region considering: *the consequences of rapid population growth, including the implications for education and employment; *low savings levels; *the absence of significant inflows of private capital and foreign investment; *fragmentation of the banking system; *the basic ecomomic infrastructure and the problems caused by excessive military expenditure; *falling oil prices; *budget deficits; The author examines alternative economic directions for the region arguing that both the methods and goals of development have to be reassessed in a region where Islam prevails.
Table of Contents
Introductionp. 1
Models of Middle East Economic Developmentp. 13
Growth and Structural Changep. 26
Population Growth and Employmentp. 50
Capital Markets, Savings and Investmentp. 76
An Islamic Model for Economic Developmentp. 99
Oil and Developmentp. 122
International and Intra-Regional Tradep. 146
The Role of the Statep. 176
Notesp. 202
Bibliographic Sourcesp. 212
Indexp. 215
Table of Contents provided by Publisher. All Rights Reserved.

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