The contribution by economists to middle eastern studies (1973–1998)

More economists have been involved in Middle Eastern studies during the last twenty‐five years than ever before, and economists from the region itself now rightly play a dominant role. Inevitably amongst economists there have been disagreements and different schools of thought, especially over the role of the state and the desirability of privatization and structural adjustment policies. There have also been different definitions of rentier states, and contrasting analysis of the dynamics of oil pricing and the effects of oil revenue. Much attention has been paid to regional economic integration issues, even though little has been achieved in that field. There is increasing interest in external trade and investment issues, but in a region where poverty persists, economists should perhaps focus more on the basic needs of the poor which are not being met. Applied microeconomic studies should be given greater priority, as macroeconomic issues have been exhaustively covered and debated.