Access the full text.
Sign up today, get DeepDyve free for 14 days.
Abbas Alnasrawi (1975)
The Petrodollar Energy Crisis: An Overview and InterpretationSyracuse Journal of International Law and Commerce, 3
I. Seymour (1980)
OPEC, instrument of change
Usaid., Vietnam. (1950)
Annual statistical bulletin
Middle East Oil and Economic Development Regional and Global Implications ABBAS ALNASRAWI University of Vermont, Burlington, U. S.A. ABSTRACT The economic importance of the Middle East to Western powers pre-dates the discovery of oil. Western colonial powers have managed to integrate the economies of Middle Eastern nations into the international economic order. Economic dependency on the West increased following the discovery of oil. Increased oil revenues have, at the regional level, resulted in an income gap between nations of the region. At the international level, they resulted in increasing the imports of oil-producing nations, increased assistance to Third World nations, and large investments in markets of industrial nations. IN THE SECOND half of the twentieth century, socio-economic and political developments in the Middle East were shaped by five forces: the ac- celerated growth of oil output and the rise in oil revenue; the creation of Israel and the ensuing wars with the Arab states; the oil price revolution and the structural changes in the international oil industry which occurred in the 1970s; the accelerated pace of economic development; and the Iranian Revolu- tion of 1979. Each force reinforced one or more of the other forces causing ad- ditonal
Journal of Asian and African Studies (in 2002 continued as African and Asian Studies) – Brill
Published: Jan 1, 1984
Read and print from thousands of top scholarly journals.
Already have an account? Log in
Bookmark this article. You can see your Bookmarks on your DeepDyve Library.
To save an article, log in first, or sign up for a DeepDyve account if you don’t already have one.
Copy and paste the desired citation format or use the link below to download a file formatted for EndNote
Access the full text.
Sign up today, get DeepDyve free for 14 days.
All DeepDyve websites use cookies to improve your online experience. They were placed on your computer when you launched this website. You can change your cookie settings through your browser.