An Introduction to the Special Issues on Financial Markets of the Middle East

26 Pages Posted: 24 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

Abstract

Bureaucracy, unclear regulations, corruption, and favoritism of nationals in employment, create adverse conditions for both domestic and foreign investment in the Middle East and North Africa region. Entrepreneurs who want to operate in the region have to consider the level of restrictiveness in five factors: Starting a Business, Hiring and Firing Workers, Enforcing Contracts, Getting Credit, and Closing a Business. The economic and financial conditions examined in Algeria, Egypt, Iran, Israel, Jordan, Kuwait, Lebanon, Morocco, Oman, Saudi Arabia, Syria, Tunisia, Turkey, United Arab Emirates, and Yemen demonstrate how the level of government interference affects the economic development of each country.

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, An Introduction to the Special Issues on Financial Markets of the Middle East. International Journal of Business, Vol. 9, No. 3, 2004. Available at SSRN: https://ssrn.com/abstract=549381

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)

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