The Price of Wealth - 9780801431647

The Price of WealthEconomies and Institutions in the Middle East\nAuthor(s): Kiren Aziz Chaudhry\nFormat: Hardback\nPublisher: Cornell University Press, United States\nImprint: Cornell University Press\nISBN-13: 9780801431647, 978-0801431647\nSynopsis\nThe 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 [url] a world where the international economy dramatically affects domestic developments, the question of where institutions come from becomes at once more urgent and more complex. In both Saudi Arabia and Yemen, fundamental state and market institutions forged during a period of isolation at the end of World War I were destroyed and reshaped not once but three times in respo.