Includes bibliographical references (p. 347-357) and index.

Introduction -- The blessing and the curse of oil -- Islam, governance and economic development -- Instability, regional conflicts and external intervention -- Physical and social indicators -- Broad economic indicators and performance -- Government finances -- External sector -- Labor and employment -- Capital flows -- Law and order, business climate, economic freedom and country risk -- Military expenditures and the cost of conflicts -- Policy assessment : a synthesis of successes and failures -- The way forward.

Middle East Oil Exporters presents a detailed picture of the economic structure and a critical survey of the recent economic performance of the Middle East. The focus is especially on the large oil-exporting nations, although the smaller producers are represented as well. The author illustrates how oil has become a crutch to avoid reforms, destroying the work ethic of the region, fuelling corruption and poisoning the social and cultural fabric of society to keep unpopular governments in power. In addition, he provides a view of the social, economic, and political implications of Islamic doctrine. In this context he examines the institutions of governance and determines that they have performed poorly, often in blatant violation of Islamic principles. This in-depth analysis is accompanied by a comprehensive prescription for a turnaround in the Middle East.