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Globalization, Economical Sovereignty and Middle Eastern Development, from Principles to Reality - Essay Example

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A central argument of this dissertation involves the question of whether models for sustained economic growth and development that have been utilized in exploring the economic growth of Western Europe and the US are applicable to the Middle East. …
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Globalization, Economical Sovereignty and Middle Eastern Development, from Principles to Reality
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Download file to see previous pages This theoretical discussion of economic growth, globalization, and national/political sovereignty constituted the framework for exploring a case study of two Middle Eastern nations in regard to the measurable effects of these economic principles on their current and prospective economic development, Jordan and Saudi Arabia. The methodology involved a data-base assessment of the major economic, social and political indices of each of these two Middle Eastern countries and the degree to which economic developments related to free-trade and globalization have impacted these important economic parameters. Graphs and statistical assessments of key economic data were also prepared and analyzed as part of a comparative assessment of the relationship between each country’s involvement in global markets and trade and the effects on national sovereignty, political stability, and economic growth.
The Middle East is at the crossroads of a rapid pace of economic development that could dramatically increase its role in the world economy (Al-Awad and Harb, 2005; Al-Yousif, Y. K.2002). There are many reasons for the changing economic climate, including a trend towards economic globalization, increased political stability and prospects for Middle Eastern peace, and improved trade relations between Middle Eastern countries and other nations (Beck et al. 2000; Boulila and Trabelsi, 2004).
An important question that this research is designed to explore is whether sustained economic growth can be achieved in the Middle East in the context of a globalized economy base as it competes with the need for Middle Eastern countries to maintain their economic, political and cultural sovereignty (Chapra, 2001; Creane et al., 2003). To answer this question, the basic principles of economic growth will be addressed as they pertain to the unique and diverse aspects of Middle Eastern economic interests and political realities. The requirements for economic sustainability will also be explored in this context. ...Download file to see next pagesRead More
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