Description - Economic Development in the Middle East by Rodney Wilson
Despite its oil resources, the Middle East is falling behind other regions of the developing world, notably the countries of East and South-East Asia. This work examines the economic prospects for the region, considering: the consequences of rapid population growth, including the implications for education and employment; low savings levels; the absence of significant inflows of private capital and foreign investment; fragmentation of the banking system; the basic ecomomic infrastructure and the problems caused by excessive military expenditure; falling oil prices; and budget deficits. Alternative economic directions for the region are examined, and it is argued that both the methods and goals of development have to be reassessed in a region where Islam prevails.
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