Economic Values in the Arab World Favor Capitalism - Economic Research Forum (ERF)

Economic Values in the Arab World Favor Capitalism

Ishac Diwan, Zafiris Tzannatos and Tarik Akin


Date:
October, 2018

NO.
25

Length:
7 pages

Topic:
Z1.
P5. Comparative Economic Systems

In a nutshell

  • There are many economic values that predispose citizens of Arab countries to be part of a market economy, including strong work ethics, comfort with competition and the work of markets, and opposition to large-scale income redistribution.
  • The main value that is inimical to the workings of a market economy is a low trust in state institutions, combined with a perception of high levels of corruption both in government and business.
  • It is thus imperative to find ways of building trust between citizens and their state institutions to serve as the foundation of future economic growth.
Research Fellows

Ishac Diwan

Chair Arab World, Paris Sciences et Lettres, visiting researcher at the Paris School of Economics


Authors

Zafiris Tzannatos

Economist, American University of Beirut


Authors

Tarik Akin

Research Specialist at the Ministry of Treasury and Finance, Turkey


Project

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