What are the effects of oil on the political and economic development in the MENA region?...

What are the effects of oil on the political and economic development in the MENA region?

Has oil made a difference in achieving economic prosperity and political stability in the MENA region?

*Please answer throughly*

Solutions

Expert Solution

The countries in MENA region is the group of countries in middle east and north america, these nations are majorly dependent upon the oil for the country's income.

ECONOMIC IMPACT OF OIL

1.Oil has created the wealth in MENA region nations and has helped the economies of countries like Saudi Arabia, Iran, Iraq to move in the positive growth.

2.Due to high concentration towards the oil industry these countries have experienced the lowest level of development in the establishment of relationship between social and economic characteristics.

3.Egypt, Jordan and many other countries have recieved the positive reach from the growth of oil producing nations.

POLITICAL IMPACT OF OIL

1.Standard of living improved in the nations like Jordan and libea ,this has lead to better infrastructure and life style in these nations.

2.Illlegal finance has increased the terrorrism in states like Syria ,Iraq and Yemen and funding of this terrorism comes through revenue generated from oil.

3.Arab government made the usage of oil to put the pressure on US. Either US would recieve the oil or it would settle the political situation in middle east.

4.In many nations oil has increased the corruption.

5.Oil has made the middle east and north africa a centre and crucial platform for political situations.

Yes oil has improved the situations of these nations but with the ultimate power comes the ultimate corruption and now these nations are using this power to regulate world politics and take the interest of countries like USA in their favour.

Rahul Sunny answered 1 year ago

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