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Globalization, Economic Sovereignty and Middle Eastern Development: from Principles to Reality: with references to Jordan and Saudi Arabia - Essay Example

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The paper seeks to answer the question of whether models for sustained economic growth and development that have been utilized in explaining the economic growth of Western Europe and the US are applicable to the economic development of the Middle East.  …
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Globalization, Economic Sovereignty and Middle Eastern Development: from Principles to Reality: with references to Jordan and Saudi Arabia
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“Globalization, Economic Sovereignty and Middle Eastern Development: from Principles to Reality: with References to Jordan and Saudi Arabia”
Specification of the topic:
The primary focus of this dissertation topic is the question of whether models for sustained economic growth and development that have been utilised in explaining the economic growth of Western Europe and the US as they relate to the increasing trend toward globalisation are applicable to the economic development of the Middle East. Research on this topic will involve an exploration of the notion that economic sustainability of the Middle Eastern region in the 21st century requires full participation in the global financial and industrial markets as well as the potential effects of these economic trends on political and economic sovereignty in this region. These issues will be examined with a specific focus on two representative Middle Eastern nations: Jordan and Saudi Arabia.

Theoretical background/issues and questions
A central argument of this thesis is that a more expansive sociological perspective is required to address current issues of economic growth and sustainability in Middle Eastern nations. To accomplish this, the most important economic theories that support or challenge the importance of globalisation for economic sustainability will be explored, specifically as they relate to the economic development and political sovereignty of the Middle East. This theoretical discussion of economic growth, globalisation and national/political sovereignty constitute 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 basic principles of economic growth will be addressed as they pertain to the unique and diverse aspects of the MENA region in general and with respect to these two Middle Eastern countries in regard to economic interests and political realities. The requirements for economic sustainability in an increasingly globalised economic market will also be explored in this context. The methodology to be utilised in this dissertation will involve a data-base assessment of the major economic social and political indices of the Middle Eastern region with a specific focus on two Middle Eastern countries under review (Jordan and Saudi Arabia). These data parameters will be used to assess the degree to which economic developments related to free-trade and globalisation have impacted these important economic parameters. Among the data assessments are the key categories of GDP, external debt and trade, demographics, income, fiscal and monetary indicators. Graphs and statistical assessments of key economic data will be prepared as part of this quantitative assessment.
Data Sources:
The following is a list of some of the most important resources to be used as references in the dissertation:
Clement, M. Henry and Springborg, R. 2001. Globalization and the Politics of Development in the Middle East. Cambridge: Cambridge University Press.
This text provides a detailed and comprehensive exploration of the political realities of the MENA region and globalisation. It details the role of democracy and globalisation as these forces interact in this geopolitical region. This will be a very valuable source of information on the economics and politics of the Middle East.
El-Gamal, M. 2006. Islamic Finance: Law, Economics, and Practice. Cambridge: Cambridge University Press.
This text provides relevant insight into the history of Islam in regard to its ecomomic implications. This important perspective will provide background necessary to explore the effects of globalisation in this region of the world as it relatesto economic and political sovereignty. This is a highly detailed, well-researched reference.
Friedman, Thomas L. 1999. The Lexus and the Olive Tree, Farrar, Straus & Giroux.
This book is written by a respected expert on the Middle East. It is an expose tht defines important challenges to globalisation in the Middle East, including aspects of technology, the role of the investor and the importance of democracy. The viewpoints presented in this text are highly relevant to the issues to be explored in this dissertation.
Held, D. et al. 1999, Global Transformations: Politics, Economics and Culture, Polity, Cambridge.
This text integrates many issues that are critical to the evaluation of globalisation in the context of the Middle east, include social and political organisatrion organisation as embodied by theories of global change that define paterrns of interconnection. This intricate perspective will enrich the theoretical basis for the dissertation research.
Hoogvelt, A. 1997, Globalisation and the Postcolonial World, Macmillan, Basingstoke and London.

This text is a compilation of essays on critical issues involved in globalisation. These include the theoretical foundations of globalist economic theory, cultural components of globalism and issues of territoriality and spatiality. These essays will provide important theoretical considerations that will be applied to the Middle Eastern nnations.
Hopkins, T.K. and I. Wallerstein (eds) 1996, The Age of Transition: Trajectory of the World-System, 1945-2025, London and New York.
The theory of the “world-system” is presented in this book by Wallerstein, which explores this theoretical premise based on the historical roots of globalisation in diverse regions of the world. This perspective will be useful in its theoretical uniqueness and its applications to the issues of globalisation in the Middle eastern region.
Issawi, Charles 1982. An Economic History of the Middle East and North Africa. London: Methuen.
This is a classic text whose theoretical premises are applied specifically to the Middle eastern region. Its importance lies in this regional focus as well as its detailed representation of the historical aspects of Middle Eastern economic and geopolitical development.
Norton, A. 1996, Civil Society in the Middle East, New York: Brill
Academic Publishers.
This text represents a compilation of essays by renowned scolars on Middle Eastern economic and geopolitical issues. It dissects the individual nations and regions of the Middle east in this comprehensive evaluation of Middle eastern economic and social policy. This reference will be very useful for obtaining specific insights into economics and politics of saydi Arabia and Jordan.
Owen, Roger 2000. State, Power and Politics in the Making of the Modern Middle East. London and New York: Routledge.
This reference provides important historical references to important geopolitical and socioeconomic factors critical to the development of the Middle East.
Polanyi, K. 1944, The Great Transformation: The Political and Economic Origins of Our Time, Farrar and Rinehart, New York.
This classic text proposed the social construction of economic relationships as a primary driving force responsible for the establishment of economic ties between nations. This important theoretical paradigm will be evaluate in this dissertation in the context of globalisation and the Middle Eastern region.
Reich, R.B. 1991, The Work of Nations, Simon and Schuster, London.
The geopolitical philosophy of legal scholar Robert reich is set forth in this text. It provides a modern theoretical perspective on many issues relevant to international trade, economic principles and regional issues. It will be a useful perspective as applied to Middle Eastern geopolitcs.
Schumpeter, J.A. 1911. The Theory of Economic Development. Harvard University Press, Cambridge, MA.
Schumpter’s classic text embraces the notion of economic imperialism. His theories will be explored in the context of other social issues that may affect economic development and trade relations, with a specific focus on the Middle East.
Wallerstein, I. 1984, The Politics of the World Economy: The States, the Movements, and the Civilisations, Cambridge University Press, Cambridge.
This classic text explores the “World Systems” theory in the context of the influences of the US, Russia and other world regions in the development of the global economic system.. This broad-based theoretical viewpoint will be extremely important to assess in relation to this dissertation topic.
The following references pertain specifically to Jordan or Saudi Arabia:
Moore, Pete W. 2004. Doing Business in the Middle East: Politics and Economic Crisis in Jordan and Kuwait, Cambridge U. Press.
Piro, Timothy J. 1998.The Political Economy of Market Reform in Jordan, Rowman & Littlefield Publishers.
Shoult, Anthony. 2002. Doing Business with Saudi Arabia, Kogan Page 2002.
Al-Ghadyan, Ahmad A. 1999. Insurance: The Islamic Perspective and its Development in Saudi Arabia, Arab L. Q. 332.
Reiter, Yitzhak. 2002. Higher Education and Sociopolitical Transformation in Jordan, 29 British J. Middle E. Stud. 137.
Glenn E. Robinson. 1988. Defensive Democratization in Jordan, 30 Intl. J. Middle E. Stud. 387.
United States International Trade Commission, Economic Impact on the United States of a U.S-Jordan Free Trade Agreement (U.S. Govt. Printing Off. 2000). Read More
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