Book Review of Arab Economies in the Twenty-First Century written by Raul Rivlin
Abstract
Prior to 1950, Middle Eastern countries
experienced some of the lowest levels of
socioeconomic development in the world.
However, in the 1960s and 1970s the region
experienced nearly universal robust economic
growth. While many anticipated that
the higher oil prices of the 1970s would sustain
this momentum, gross domestic product
(GDP) growth per worker in the Middle
East decelerated in that decade. In the 1980s
and 1990s, GDP growth per worker was less
than 1% per year. While growth picked up
somewhat with the oil boom in the first decade
of the 21st century, the growing income
gap with Asia and other parts of the developing
world has persisted. The region’s chronic
unemployment, the highest in the world, has
shown little tendency to abate, even during
the recent period of high oil prices...
Description
Book Review by Dr. Robert Looney on Arab Economies in the Twenty-First
Century, by Paul Rivlin.