Download this Paper Open PDF in Browser

Economic Development in the Middle East

38 Pages Posted: 20 May 2004  

Yochanan Shachmurove

City University of New York, CUNY City College of New York - Department of Economics; The University of Pennsylvania - Department of Economics

Date Written: May 2004

Abstract

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.

Keywords: 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

JEL Classification: E0, E1, F3, F4, N2, O4, O5

Suggested Citation

Shachmurove, Yochanan, Economic Development in the Middle East (May 2004). PIER Working Paper No. 04-022. Available at SSRN: https://ssrn.com/abstract=548362 or http://dx.doi.org/10.2139/ssrn.548362

Yochanan Shachmurove (Contact Author)

City University of New York, CUNY City College of New York - Department of Economics ( email )

160 Convent Avenue
New York, NY 10031
United States
212-650-6202 (Phone)

The University of Pennsylvania - Department of Economics ( email )

160 McNeil Building
3718 Locust Walk
Philadelphia, PA 19104
United States
215-898-1090 (Phone)
215-573-2057 (Fax)

Paper statistics

Downloads
3,082
Rank
2,713
Abstract Views
8,284