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An Overview of Arabian Economies

In: Banking and Financial Systems in the Arab World

Author

Listed:
  • Philip Molyneux

    (University of Wales Bangor)

  • Munawar Iqbal

    (Islamic Research and Training Institute, Islamic Development Bank)

Abstract

This chapter provides an overview of the main socio-economic features of Arabian countries over the last twenty years or so. The aim is to describe the nature of economic development that has taken place in the region as well highlighting the various broad financial sector developments and other reforms that have taken place. The Arabic region comprises 21 countries whose people speak the Arabic language and these countries can be classified economically into oil- and non-oil-exporting countries. Many Arabian blocs have appeared over the past years. These blocs share similar objectives; integrating and enforcing the economic and cultural ties between member countries. These blocs include the Council of Arab Economic Unity, the Arab Maghreb Union, the Gulf Cooperation Council (GCC) and the Council of Arab Mashreq countries.

Suggested Citation

  • Philip Molyneux & Munawar Iqbal, 2005. "An Overview of Arabian Economies," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Banking and Financial Systems in the Arab World, chapter 2, pages 8-42, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-0-230-51212-2_2
    DOI: 10.1007/978-0-230-51212-2_2
    as

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