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Oil, the Macroeconomy, and Growth in the MENA Region

In: Economics of the Middle East Development Challenges

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  • Julia C Devlin

Abstract

In the brief period from 1970 to 1974, government revenues of Organization of the Petroleum Exporting Countries (OPEC) nations increased 11 times and OPEC developing countries gained pricing power over the world's most valuable traded commodity. This oil windfall, followed by two others (1979/1981 and 2003) had significant effects on growth, development, and political economy in the economies of the Middle East and North Africa (MENA) region…

Suggested Citation

  • Julia C Devlin, 2016. "Oil, the Macroeconomy, and Growth in the MENA Region," World Scientific Book Chapters, in: Economics of the Middle East Development Challenges, chapter 3, pages 57-84, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814675208_0003
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    More about this item

    Keywords

    Economic Development; Middle East; North Africa;
    All these keywords.

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O20 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - General
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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