MENA has 2/3 of the world?s hydrocarbon reserves 33 supergiant fields provide oil- 28 in the Middle East OPEC (production cost $1.50 per barrel vs. $6 for rest) Large rent-element, why? Dutch disease again: why? HDI Ranking to determine whether countries developed, developing, or underdeveloped UNDP?s Human Development Report Purpose ?to shift the focus of development economics from national income accounting to people centered policies? Dimensions: Population longevity = Life Expectancy at Birth Education = Adult Literacy Rate + prim/sec/text Dutch Disease: Shift of Resources = failure of economy Deindustrializing Nationalizing sectors Too tied to private interests Accountability Selective interest groups Stagflation ? increase in foreign exchange; distortion created by strong currency because of stronger exports, labor being absorbed and shortage of labor
Want to see the other 1 page(s) in 01-25-10.docx?JOIN TODAY FOR FREE!