Lebanon and Jordan: Enclaves of Capitalism

  • Rodney Wilson


These two small countries have been left to the end of this study of the economies of the Middle East. This is not because their limited size makes them any less significant, but rather is due to the fact that both their economies are very dependent on the economic health of the other countries already covered. Lebanese commerce and banking served the whole Middle East, and only a small portion of its business was generated internally. Similarly the Hashemite Kingdom of Jordan was, and is, dependent on financial support from the oil-rich monarchies and shiekhdoms to the south, to cover both its budget deficit and its balance of payments. A knowledge of the Middle Eastern neighbours of both states therefore helps the reader understand the forces underlying Lebanese and Jordanian development, as well as the economic constraints.


Middle East Financial Centre Export Earning Free Zone Domestic Inflation 
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    Despite this, the old regime was not without influential supporters, even amongst academic economists. See for example Elie Abid Salem, Modernization without Revolution: Lebanon’s Experience (Bloomington: Indiana University Press, 1973). This study gives a very different picture of the Lebanese government’s record to that presented here.Google Scholar
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© Rodney Wilson 1979

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  • Rodney Wilson

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