Globalization and the Politics of Development in the Middle East (The Contemporary Middle East, Series Number 1)

In A New Edition Of Their Book On The Economic Development Of The Middle East And North Africa, Clement Henry And Robert Springborg Reflect On What Has Happened To The Region's Economy Since 2001. How Have The Various Countries In The Middle East Responded To The Challenges Of Globalization And To The Rise Of Political Islam, And What Changes, For Better Or For Worse, Have Occurred? Utilizing The Country Categories They Applied In The Previous Book And Further Elaborating The Significance Of The Structural Power Of Capital And Islamic Finance, They Demonstrate How Over The Past Decade The Monarchies (as Exemplified By Jordan, Morocco, And Those Of The Gulf Cooperation Council) And The Conditional Democracies (israel, Turkey, And Lebanon) Continue To Do Better Than The Military Dictatorships Or Bullies (egypt, Tunisia, And Now Iran) And The Bunker States (algeria, Iraq, Libya, Sudan, Syria, And Yemen)-- Books Published In The Contemporary Middle East Series Address The Major Political, Economic And Social Debates Facing The Region Today. Each Title Comprises A Survey Of The Available Literature Against The Background Of The Author's Own Critical Interpretation Which Is Designed To Challenge And Encourage Independent Analysis. While The Focus Of The Series Is The Middle East And North Africa, Books Are Presented As Aspects Of The Rounded Treatment, Which Cut Across Disciplinary And Geographic Boundaries. They Are Intended To Initiate Debate In The Classroom, And To Foster Understanding Amongst Professionals And Policy-makers-- Machine Generated Contents Note: 1. The Globalization Dialectic; 2. The Challenges Of Globalization; 3. Political Capacities And Local Capital; 4. Bunker State; 5. Bully Praetorian States; 6. Globalization Monarchies; 7. Precarious Democracies; 8. Conclusion. Clement M. Henry, Robert Springborg. Cover 1 Half-title 3 Title 7 Copyright 8 Contents 9 Figures 10 Tables 12 Preface to the second edition 13 Preface and acknowledgments 15 Glossary 19 1 The globalization dialectic 25 The dialectics of globalization 27 The Washington Consensus revised 35 The structural power of capital 37 Suggestions for further reading 43 2 The challenges of globalization 44 Global engagement 44 Strategic rents: foreign aid and arms transfers 54 Oil revenues 66 Trade 70 Capital flows 75 The debt problem 81 Pressures for reform 87 Suggestions for further reading 90 3 Political capacities and local capital 91 Political capacities 97 The extractive capability 99 Institutional credibility and property rights 103 Transparency and reliable information 108 The structural power of local capital 113 Types of commercial banking structures 117 Exclusively public-sector banking systems 118 Mixed ownership, but still heavily concentrated in public-sector banks 120 Predominantly private sector and concentrated 121 Predominantly private and relatively competitive 123 Structural power of capital – summary 127 Facing the challenges ahead 132 Suggestions for further reading 136 4 Bunker states 137 Algeria’s bunker 141 Algerian springtime: reform and democracy (1989–91) 150 Reforms from the bunker (1991–) 153 Lessons for other bunker regimes 160 Syria: succession in the bunker 164 Iraq: back to the bunker 175 Conclusion 181 Suggestions for further reading 185 5 Bully praetorian states 186 From Paris to “tiger along the Nile?” 190 Tiger sustained 195 Evolution of Egypt’s bully praetorianism 216 Undercover economies and crony capitalism 222 The power of capital in bully praetorian republics 226 Prospects for bully praetorian republics 230 Suggestions for further reading 235 6 Globalizing monarchies 236 Morocco 239 Saudi Arabia – “developmental monarchy” for the GCC? 250 Governance challenges 257 More governance challenges: transparency and accountability 261 GCC royals and commoners – an emerging, interconnected Islamic bourgeoisie? 267 Jordan and Kuwait: bellwether monarchies? 273 Conclusion 277 Suggestions for further reading 278 APPENDIX A: Economic challenges to the hydrocarbon value-added development strategy 279 7 Precarious democracies 285 Turkey 301 Israel 311 Lebanon 320 Iran 327 Conclusion 336 Suggestions for further reading 337 8 Conclusion 338 References 349 Index 373 In this 2010 edition of their book on the economic development of the Middle East and North Africa, Clement Henry and Robert Springborg reflect on what has happened to the region's economy since 2001. How have the various countries in the Middle East responded to the challenges of globalization and to the rise of political Islam, and what changes, for better or for worse, have occurred? Utilizing the country categories they applied in the previous book and further elaborating the significance of the structural power of capital and Islamic finance, they demonstrate how over the past decade the monarchies (as exemplified by Jordan, Morocco and those of the Gulf Cooperation Council) and the conditional democracies (Israel, Turkey and Lebanon) continue to do better than the military dictatorships or 'bullies' (Egypt, Tunisia and now Iran) and 'the bunker states' (Algeria, Iraq, Libya, Sudan, Syria and Yemen). "Books published in The Contemporary Middle East series address the major political, economic and social debates facing the region today. Each title comprises a survey of the available literature against the background of the author's own critical interpretation which is designed to challenge and encourage independent analysis. While the focus of the series is the Middle East and North Africa, books are presented as aspects of the rounded treatment, which cut across disciplinary and geographic boundaries. They are intended to initiate debate in the classroom, and to foster understanding amongst professionals and policy-makers"-- Provided by publisher