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Arab Nationalism, Oil, and the Political Economy of Dependency: (Contributions in Economics and Economic History) Hardcover – May 30, 1991

ISBN-13: 978-0313276101 ISBN-10: 0313276102 Edition: 1st

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"This very interesting book focuses the Arab states economic dependence on the industrialized world and the resulting nationalistic reactions. The first two chapters discuss the historical evolution of this dependence from the 16th century to the present. Arab nationalism was first internationally recognized in 1913 but remained ineffective as Arab elite groups had developed interests that largely coincided with those of the industrialized countries. The establishment of Israel ignited Arab nationalism, but even the creation of OPEC in 1960 did not advance it. Only the 1973 Arab-Israeli war and the use of "the Arab oil weapon" made Arab nationalism really active. However, the author states that this oil weapon had a "built-in failure;" the oil embargo against the US and other countries drove up prices and caused an economic depression that made the industrialized countries stand up against this threat. The result was cooperation between the oil-producing Arab countries and the industrialized world to stabilize oil prices and avoid such future calamities and political separation of the oil-producing Arab countries from the others. For these reasons the economic dependency of the Arab countries on the industrialized world can be expected to continue. For university and research collections."-Choice

Book Description

Alnasrawi contents that Arab economic development was shaped by Arab nationalist thought, the emergence of the oil industry in the Arab region, and the integration of Arab economies into the international economic system.


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