• Login
    View Item 
    •   Home
    • Yale Law School Faculty Scholarship
    • Faculty Scholarship Series
    • View Item
    •   Home
    • Yale Law School Faculty Scholarship
    • Faculty Scholarship Series
    • View Item
    JavaScript is disabled for your browser. Some features of this site may not work without it.

    Browse

    All of openYLSCommunitiesPublication DateAuthorsTitlesSubjectsThis CollectionPublication DateAuthorsTitlesSubjects

    My Account

    LoginRegister

    Statistics

    Display statistics

    Institutional and Evolutionary Failure and Economic Development in the Middle East

    • CSV
    • RefMan
    • EndNote
    • BibTex
    • RefWorks
    Thumbnail
    Name:
    Institutional_and_Evolutionary ...
    Size:
    2.150Mb
    Format:
    PDF
    Download
    Author
    Ayres, Ian
    Macey, Jonathan
    
    Metadata
    Show full item record
    URI
    http://hdl.handle.net/20.500.13051/433
    Abstract
    This paper examines the politics and finance of development among Middle Eastern countries with particular emphasis on the incentives of autocrats to advance pro-growth policies in general and to foster small enterprise in particular. It is premised on the observation that there is no fundamental reason why Middle Eastern economies cannot enjoy steady, stable economic growth. At several points in the past, particularly in the late 1970s, various Middle Eastern economies, including Iraq, enjoyed middle-income status. From the 1960s until the end of the 1970s, Middle Eastern countries made massive public investments in economic infrastructure, as well as in health, education and, less successfully, in state-owned enterprises. Economic growth, at six percent per worker per year, was the highest in the world in the 1960s. Going back much further, during the tenth century the Middle East was extremely advanced as measured by its standard of living, technology, agricultural output, and literacy rates. The discussion begins with a description of the institutional features that are important to economic development. Three institutional arrangements in particular are critical for economic growth and human flourishing. These are: (1) the ability to create investment vehicles that facilitate risk-taking, such as the corporation and the limited partnership; (2) the capacity of institutions to adapt to economic and technological advances and changing human preferences and tastes; and (3) an economic, social, and legal environment that encourages long-term investment, tolerates failure, and facilitates trade.
    Collections
    Faculty Scholarship Series

    entitlement

     
    DSpace software (copyright © 2002 - 2023)  DuraSpace
    Quick Guide | Contact Us
    Open Repository is a service operated by 
    Atmire NV
     

    Export search results

    The export option will allow you to export the current search results of the entered query to a file. Different formats are available for download. To export the items, click on the button corresponding with the preferred download format.

    By default, clicking on the export buttons will result in a download of the allowed maximum amount of items.

    To select a subset of the search results, click "Selective Export" button and make a selection of the items you want to export. The amount of items that can be exported at once is similarly restricted as the full export.

    After making a selection, click one of the export format buttons. The amount of items that will be exported is indicated in the bubble next to export format.