Economic Development in the Middle East
AbstractThe economic and financial development are examined in Algeria, Egypt, Iran, Israel, Jordan, Kuwait, Lebanon, Morocco, Oman, Saudi Arabia, Syria, Tunisia, Turkey, United Arab Emirates, and Yemen, representing the Middle East and North Africa region. Lengthy bureaucratic procedures, unclear regulations, corruption, and heavy reliance on oil exports pose major obstacles to economic development and integration into global markets. These controlled economies directly affect foreign and domestic investments that are measured by five factors: Starting a Business, Hiring and Firing Workers, Enforcing Contracts, Getting Credit, and Closing a Business. This paper demonstrates that improvements in the standard of living will only be attained with fiscal and political reforms.
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Bibliographic InfoPaper provided by Penn Institute for Economic Research, Department of Economics, University of Pennsylvania in its series PIER Working Paper Archive with number 04-022.
Length: 38 pages
Date of creation: 01 May 2004
Date of revision:
Middle East and North Africa (MENA; Algeria; Arab Republic of Egypt; Islamic Republic of Iran; Israel; Jordan; Kuwait; Lebanon; Morocco; Oman; Saudi Arabia; Syrian Arab Republic; Tunisia; Turkey; United Arab Emirates; the Republic of Yemen; Economic Indicators; Foreign Direct Investment;
Find related papers by JEL classification:
- E0 - Macroeconomics and Monetary Economics - - General
- E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
- F3 - International Economics - - International Finance
- F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
- N2 - Economic History - - Financial Markets and Institutions
- O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
- O5 - Economic Development, Technological Change, and Growth - - Economywide Country Studies
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