Book Description
`Anyone who wants to grasp the economic status of this rather special,
perhaps unique, part of the world will find here a knowledgeable and
assiduous guide. Secondly, the book presents a strong and uncompromising
argument about what these countries must do, and what the West must do, to
improve the economic performance and social fabric of the MENA region, and
thus better the daily lives of the inhabitants.'
- From the foreword by Robert M. Solow, Nobel Laureate, Massachusetts
Institute of Technology, US
Hossein Askari argues here that economic and social failure in the oil
exporting countries of the Middle East is a result of much more than simply
shortcomings in economic policies. He analyzes religion, corruption,
instability, wars and foreign interference as factors affecting the region
and offers solutions that incorporate Islamic teachings, regional peace
efforts, market-oriented economic policies, sound institutions and
unselfish policy support from the West.
Synopsis
Hossein Askari argues here that economic and social failure in the oil exporting countries of the Middle East is a result of much more than simply shortcomings in economic policies. He analyzes religion, corruption, instability, wars and foreign interference as factors affecting the region and offers solutions that incorporate Islamic teachings, regional peace efforts, market-oriented economic policies, sound institutions and unselfish policy support from the West. "Middle East Oil Exporters" presents a detailed picture of the economic structure and a critical survey of the recent economic performance of the Middle East. The focus is especially on the large oil exporting nations, although the smaller producers are represented as well. The author illustrates how oil has become a crutch to avoid reforms, destroying the work ethic of the region, fuelling corruption and poisoning the social and cultural fabric of society to keep unpopular governments in power. In addition, he provides a view of the social, economic, and political implications of Islamic doctrine.
In this context, he examines the institutions of governance and determines that they have performed poorly, often in blatant violation of Islamic principles. This in-depth analysis is accompanied by a comprehensive prescription for a turnaround in the Middle East. Hossein Askari's unique and insightful critique is essential reading for students and scholars of the Middle East, as well as policymakers involved in the region. Executives of financial institutions and private corporations will also want to understand the region for their energy needs and as a market for their products and services.
