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The Price of Wealth: Economies and Institutions in the Middle East

By Kiren Aziz Chaudhry
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By Kiren Aziz Chaudhry
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The emerging consensus that institutions shape political and economic outcomes has produced few theories of institutional change and no defensible theory of institutional origination. Kiren Aziz Chaudhry shows how state and market institutions are created and transformed in Saudi Arabia and Yemen, two countries that typify labor and oil exporters in the developing worlds.

In a world where the international economy dramatically affects domestic developments, the question of where instit…

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