A Comparative Analysis of Economic Policies and Performance of the OPEC and Non-OPEC Countries of the Middle East Region since the 1980’s

Authors : M Raquibuz Zaman

Pages : 53-89

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Publication Date : 2012-06-01

Article Type : Research

Abstract :This study shows that no matter how high or low the petroleum prices were during the last three decades or so, and how the revenues earned from oil exporting have been utilized by the OPEC members of the Middle-East for their economic growth and diversification, their performance has not been markedly different than that of the non-OPEC members of the region. For the analysis of comparative economic performance the study analyzed 15 basic economic indicators of each of the selected countries over the period 1981-2010 to discern any pattern of divergent economic growth between the two sets of countries, and to gauge what positive and/or negative contribution oil money made to their economic development and performance. It also shows the role of socio-political institutions in diversification of economic activities, and distribution of economic benefits in the countries concerned
Keywords : Comparative Economic Performance, OPEC, Oil Prices, Middle East.