Locked Out of Development

Insiders and Outsiders in Arab Capitalism

Steffen Hertog (London School of Economics and Political Science)

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English

Cambridge University Press
19 January 2023

Labour economics; Political economy; Financial crises & disasters

Series: Elements in the Politics of Development

Summary
Details

This Element argues that the low dynamism of low- to mid-income Arab economies is explained with a set of inter-connected factors constituting a 'segmented market economy'. These include an over-committed and interventionist state with limited fiscal and institutional resources; deep insider-outsider divides among firms and workers that result from and reinforce wide-ranging state intervention; and an equilibrium of low skills and low productivity that results from and reinforces insider-outsider divides. These mutually reinforcing features undermine encompassing cooperation between state, business and labor. While some of these features are generic to developing countries, others are regionally specific, including the relative importance and historical ambition of the state in the economy and, closely related, the relative size and rigidity of the insider coalitions created through government intervention. Insiders and outsiders exist everywhere, but the divisions are particularly stark, immovable and consequential in the Arab world.

By: Steffen Hertog (London School of Economics and Political Science)
Imprint: Cambridge University Press
Country of Publication: United Kingdom
Dimensions: Height: 229mm, Width: 152mm, Spine: 6mm
Weight: 172g
ISBN: 9781009045575
ISBN 10: 1009045571
Series: Elements in the Politics of Development
Pages: 75
Publication Date: 19 January 2023
Audience: General/trade , ELT Advanced
Format: Paperback
Publisher's Status: Active