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Economic Development in the Middle East

  • Yochanan Shachmurove

    ()

    (The City College of The City University of New York and the University of Pennsylvania)

The 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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File URL: http://economics.sas.upenn.edu/system/files/working-papers/04-022.pdf
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Paper provided by Penn Institute for Economic Research, Department of Economics, University of Pennsylvania in its series PIER Working Paper Archive with number 04-022.

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Length: 38 pages
Date of creation: 01 May 2004
Date of revision:
Handle: RePEc:pen:papers:04-022
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  1. Simeon Djankov & Rafael La Porta & Florencio Lopez-de-Silanes & Andre Shleifer, 2000. "The Regulation of Entry," Harvard Institute of Economic Research Working Papers 1904, Harvard - Institute of Economic Research.
  2. Juan Botero & Simeon Djankov & Rafael LaPorta & Florencio López-de-Silanes & Andrei Shleifer, . "The Regulation of Labor," Working Paper 19483, Harvard University OpenScholar.
  3. Dollar, David & Kraay, Aart, 2001. "Growth is good for the poor," Policy Research Working Paper Series 2587, The World Bank.
  4. Assaf Razin & Efraim Sadka & Tarek Coury, 2002. "Trade Openness, Investment Instability and Terms-of-Trade Volatility," NBER Working Papers 9332, National Bureau of Economic Research, Inc.
  5. Yanikkaya, Halit, 2003. "Trade openness and economic growth: a cross-country empirical investigation," Journal of Development Economics, Elsevier, vol. 72(1), pages 57-89, October.
  6. Meng, Q. & Velasco, A., 1999. "Can Capital Mobility be Destabilizing?," Working Papers 99-16, C.V. Starr Center for Applied Economics, New York University.
  7. Qinglai Meng & Andres Velasco, 1999. "Can Capital Mobility be Destabilizing?," NBER Working Papers 7263, National Bureau of Economic Research, Inc.
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