It is claimed that Middle Eastern countries lack behind market reforms and show an antipathy towards neoliberal economic restructuring. This research paper looks into the logic of economic restructuring, whereby privatisation, competition and regulation theory build the framework for analysing market liberalisation in the Middle East. A case study on Islamic banking reflects the differences and challenges of respecting Muslim traditions at the one hand and Western financial practices on the other. It becomes paramount that economic restructuring is perceived mostly negatively by Muslim states and therefore, clashes with neoliberal understanding of pro-market reforms are inevitable.
Inhaltsverzeichnis (Table of Contents)
- Abstract
- Section I
- Introducing the Research Paper
- Political and Economic Globalisation
- Privatisation Theory
- Competition and Regulation Theory
- How Risk and Uncertainty influences the Privatisation Process
- Section II
- Liberalisation in the Middle East
- The Role of the World Bank
- Effects of Neoliberal Economic Reforms
- Section III
- Case Study: Islamic Banking
- Conclusion
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This research paper explores the logic of economic restructuring in the Middle East, analyzing how privatization, competition, and regulation theory contribute to market liberalization in the region. It aims to provide insight into the challenges and differences encountered when attempting to align Muslim traditions with Western financial practices, as exemplified by the case study of Islamic banking.
- The impact of political and economic globalization on the Middle East.
- The role of international organizations, like the World Bank, in promoting economic restructuring in the Middle East.
- The differences and challenges of applying neoliberal economic reforms in a region with distinct cultural and religious norms.
- The implications of Islamic economics and its potential role in shaping economic restructuring in the Middle East.
- The political and social consequences of neoliberal economic reforms in the Middle East.
Zusammenfassung der Kapitel (Chapter Summaries)
- Introducing the Research Paper: This chapter provides an introduction to the topic of economic restructuring in the Middle East and highlights the complexities of reconciling Western neoliberal economic models with local traditions and norms. It examines the impact of globalization on the region and explores the challenges of implementing economic reforms in a diverse and multifaceted context.
- Political and Economic Globalisation: This chapter discusses the influence of political and economic globalization on the Middle East, analyzing the role of the state in the post-Cold War era and examining various responses to globalization, including participation, accommodation, and denunciation. It explores the tension between promoting free trade and protecting domestic interests, highlighting the challenges of balancing national sovereignty with global economic forces.
- Privatisation Theory: This chapter delves into the theory of privatization, examining the concepts of competition and regulation theory and analyzing how risk and uncertainty influence the privatization process. It discusses the potential benefits and drawbacks of privatization and explores the factors that contribute to its success or failure in different contexts.
- Liberalisation in the Middle East: This chapter examines the implementation of liberalization policies in the Middle East, focusing on the role of the World Bank and its influence on economic reforms in the region. It analyzes the effects of neoliberal economic reforms on the Middle Eastern economies and discusses the challenges of reconciling these reforms with local social, political, and cultural values.
- Case Study: Islamic Banking: This chapter presents a case study on Islamic banking, highlighting the complexities of reconciling Muslim traditions with Western financial practices. It explores the challenges of integrating Islamic banking principles into a globalized financial system and analyzes the potential for Islamic economics to shape economic restructuring in the Middle East.
Schlüsselwörter (Keywords)
This research paper examines the complexities of economic restructuring in the Middle East, focusing on the intersection of neoliberalism, Islamic economics, political globalization, and privatization. Key themes include the role of the state, international organizations, cultural and religious norms, and the challenges of balancing economic reforms with social and political considerations. The case study of Islamic banking highlights the potential for alternative economic models to shape the future of the region.
- Quote paper
- Vicki Preibisch (Author), 2006, The political logic of economic restructuring in the Middle East, Munich, GRIN Verlag, https://www.grin.com/document/67977