Skip to main content

Middle East and Africa: Oil, Wealth and Poverty

  • Chapter
The Transformation of the World Economy
  • 38 Accesses

Abstract

This chapter is concerned with a vast area running from the oil-rich Arabian peninsula with its sparse population through Egypt and its North African neighbours and on to the diverse but relatively underdeveloped countries of Sub-Saharan Africa. The term ‘Middle East’ does not denote a clearly defined geographical area. It sometimes refers to the entire region from Afghanistan to Mauritania, including Turkey. Other designations separate the so-called Maghreb countries: Algeria, Morocco, Tunisia and Libya; with Mauritania, they are also referred to as North Africa as distinct from the Middle East. Whatever the grouping, these countries are mostly Islamic and, except for Iran and Turkey, make up a large part of the Arab world.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 84.99
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 109.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 109.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Notes

  1. E. R. Fried and P. H. Trezise, Oil Security: Retrospect and Prospect (Washington: The Brookings Institution, 1993) p. 10.

    Google Scholar 

  2. M. H. Hamilton, ‘Oil Powers Consider Broader Group Than OPEC’, Washington Post (30 June 1998) p. E3.

    Google Scholar 

  3. A. Richards and J. Waterbury, A Political Economy of the Middle East (Boulder, Colo.: Westview, 1990) p. 247.

    Google Scholar 

  4. J. Barham, ‘Turkish Ministers Bow to the Generals’, Financial Times (8 July 1998) p. 3.

    Google Scholar 

  5. F. Al-Farsy, Modernity and Tradition: The Saudi Equation (London: Kegan Paul International, 1990) p. xxii.

    Google Scholar 

  6. M. Huband, ‘Control stays with the ruling families,’ Financial Times (26 March 1998) Survey, p. III.

    Google Scholar 

  7. S. El-Naggar, ‘Investment Policies in the Arab Countries: The Basic Issues’, in S. El-Naggar (ed.), Investment Policies in the Arab Countries (Washington: International Monetary Fund, 1990) p. 8.

    Google Scholar 

  8. D. Cohen, ‘Growth and External Debt: A New Perspective on the African and Latin American Tragedies,’ Centre for Economic Policy Research Discussion Paper no. 1753 (December 1997).

    Google Scholar 

  9. See C. Madavo and J. Sarbib, ‘Africa on the Move: Attracting Private Capital To A Changing Continent’, The Sais Review (Summer-Fall 1997) pp. 111–126.

    Google Scholar 

  10. W. Ryrie, First World, Third World (London: Macmillan, 1995) p. 214.

    Book  Google Scholar 

Download references

Authors

Copyright information

© 1999 Robert Solomon

About this chapter

Cite this chapter

Solomon, R. (1999). Middle East and Africa: Oil, Wealth and Poverty. In: The Transformation of the World Economy. Palgrave Macmillan, London. https://doi.org/10.1057/9780333983492_11

Download citation

Publish with us

Policies and ethics