Political economy and development

The MENA region has long presented abundant puzzles for theories of comparative political economy, from high inequality to the seemingly paradoxical effects of oil wealth. The events of the past decade, however, have catalyzed a momentous rethinking in how political institutions and economic development affect one another, making the region a testing ground for new ideas. For instance, contemporary underdevelopment may be path-dependent, the result of centuries-old legal structures and other distant historical causes. Moreover, debates about the role of the state and welfare policies boil down not just to material distributions but to political trade-offs reflecting authoritarian commitments as well—something especially prevalent with the rise of crony capitalism. Finally, the problem of rentier wealth continues to undercut popular assumptions: oil-rich states have not succumbed to instability and conflict as predicted by many political scientists, but their social demands and institutional complexities have also immensely grown.