Oil and the Political Economy in the Middle East: Post-2014 Adjustment Policies of the Arab Gulf and Beyond...

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Martin Beck Thomas Richter

Oil and the Political Economy in the Middle East

Post-2014 Adjustment Policies of the Arab Gulf and Beyond

Martin Beck, Thomas Richter

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English

Manchester University Press
05 October 2023

Comparative politics; Political economy; Petroleum & oil industries

This is the first comprehensive analysis of the Middle Eastern political economy in response to the oil price decline in 2014. The introduction and conclusion also discuss the COVID-19-induced oil price crash of 2020. Based on a heuristic framework inspired by rentierism, the volume contains original studies on Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, and the UAE.

The results show a diversity of country-specific pathways for adjustment policies. Among the most pertinent empirical findings are that migrant workers in the Arab Gulf are the main social losers, while citizens were capable of repelling burdensome adjustment. For Egypt, Jordan, and Lebanon, the expectation that they could benefit from the oil price decline has not been fulfilled. Conceptually, the collection highlights the importance of bringing state-class relations back into consideration, emphasises the role of institutions, and calls for a nuanced understanding of rentier state autonomy.

Edited by: Martin Beck, Thomas Richter
Imprint: Manchester University Press
Country of Publication: United Kingdom
Dimensions: Height: 234mm, Width: 156mm, Spine: 16mm
Weight: 422g
ISBN: 9781526171863
ISBN 10: 1526171864
Pages: 296
Publication Date: 05 October 2023
Audience: College/higher education , Professional and scholarly , Primary , Undergraduate
Format: Paperback
Publisher's Status: Active

1 Pressured by the decreased price of oil: Post-2014 adjustment policies in the Arab Gulf and beyond - Martin Beck and Thomas Richter 2 Upgrading towards neoclassical rentier governance: Bahrain’s post-2014 oil price decline adjustment - Sumaya AlJazeeri 3 Stalled reform: The resilience of rentierism in Kuwait - Gertjan Hoetjes 4 Oil price collapse and the political economy of the post-2014 economic adjustment in the Sultanate of Oman - Crystal A. Ennis and Said Al-Saqri 5 Qatar: Leadership transition, regional crisis, and the imperatives for reform - Matthew Gray 6 The nexus between state-led economic reform programmes, security, and reputation damage in the Kingdom of Saudi Arabia - Robert Mason 7 Federal benefits: How federalism encourages economic diversification in the United Arab Emirates - Karen E. Young 8 Egypt’s twisted hydrocarbon dependency: A case of persistent semi-rentierism - Amr Adly 9 Oil and turmoil: Jordan’s adjustment challenges amid local and regional change - Riad al Khouri and Emily Silcock 10 Lower oil prices since 2014: Good news or bad news for the Lebanese economy? - Mohamad B. Karaki 11 Oil and political economy in the Middle East: Overcoming rentierism? - Martin Beck and Thomas Richter -- .

Martin Beck is Professor in International Relations and Security Studies at the University of Kurdistan Hêwler (UKH) Thomas Richter is Lead Research Fellow at the German Institute for Global and Area Studies (GIGA) -- .