Diwan and Galal looks at the structure and prospects of the Middle East economies after the 2011 Uprisings, focusing on issues of economic growth, inequality, the impact of oil, and the unfolding political transitions. On the growth question, the book looks into the extent of structural transformation of the economy, the political economy reasons for the lack of structural change, and the external conditions in the EU and in the GCC that underpin the lack of structural change. On inequality, the book offers new measures of equality of opportunity in human development and in the job market, and it also reviews the complex political economy of subsidy removal. Regarding natural resources, the volume provides three innovations: connecting the notion of 'oil curse' to the global phenomena of asset bubbles; evidence that resource curse effects do not rise monotonically with the size of the resource rent, but rather, according to an inverted U shape; and an extension of the concept of rent to the other non-oil rents that are also predominant in the region. Finally, the volume places the political transition in the region in a global perspective using various methods - theoretical, comparative, and empirical, and it explores the relationship between democracy in its variety of forms and economic development.

Diwan and Galal looks at the structure and prospects of the Middle East economies after the 2011 Uprisings, focusing on issues of economic growth, inequality, the impact of oil, and the unfolding political transitions. On the growth question, the book looks into the extent of structural transformation of the economy, the political economy reasons for the lack of structural change, and the external conditions in the EU and in the GCC that underpin the lack of structural change. On inequality, the book offers new measures of equality of opportunity in human development and in the job market, and it also reviews the complex political economy of subsidy removal. Regarding natural resources, the volume provides three innovations: connecting the notion of 'oil curse' to the global phenomena of asset bubbles; evidence that resource curse effects do not rise monotonically with the size of the resource rent, but rather, according to an inverted U shape; and an extension of the concept of rent to the other non-oil rents that are also predominant in the region. Finally, the volume places the political transition in the region in a global perspective using various methods - theoretical, comparative, and empirical, and it explores the relationship between democracy in its variety of forms and economic development.

The popular uprisings in 2011 that overthrew Arab dictators were also a rebuke to crony capitalism, diverted against both rulers and their allied businessmen who monopolize all economic opportunities. While the Middle East has witnessed a growing nexus between business and politics in the wake of liberalization, little is discussed about the nature of business cronies, the sectors in which they operate, the mechanisms used to favour them, and the possible impact of such crony relations on the region's development. Combining inputs from leading scholars in the field, Crony Capitalism in the Middle East: Business and Politics from Liberalization to the Arab Spring presents a wealth of empirical evidence on the form and function of this aspect of the region. Crony Capitalism in the Middle East is unique in both its empirical focus and comparative scale. Analysis in individual chapters is empirically grounded and based on fine-grained data on the business activities of politically connected actors furnishing, for the first time, information on the presence, numerical strength, and activities of politically connected entrepreneurs. It also substantially enhances our understanding of the mechanisms used to privilege connected businesses, and their possible impact on undermining the growth of firms in the region. It offers a major advance on our prior knowledge of Middle Eastern political economy, and constitutes a distinct contribution to the global literature on crony capitalism and the politics of development. The book will be an essential resource for students, researchers, and policymakers alike.