Explaining Growth in the Middle East

Front Cover
Jeffrey B. Nugent, M. Hashem Pesaran
Elsevier, 2007 - Business & Economics - 411 pages
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This book is about the Middle East and North Africa (MENA) region. This region is generally perceived as having experienced the most disappointing growth performance over the last couple of decades of any region in the world with the possible exception of Sub-Sahara Africa. Despite the regions immense endowment of natural resources, its per capita income is often viewed as having stagnated. At the same time, most economies of the region have been characterized by extremely high volatility, a condition only partly attributable to the fluctuating price of oil.

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