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

The primary focus of this dissertation topic is 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 as they relate to the increasing trend toward globalization are applicable to 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 globalization 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, globalization, and national/political sovereignty constitutes 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 globalized economic market will also be explored in this context. The methodology to be utilized in this dissertation will involve a database 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 globalization 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.