Business as Usual?

Description

"Since the Jordanian State's establishment in 1921, Jordan's economy has predominantly relied on the financial support of other countries. Such external funding, known as "rent," was especially abundant between 1973 and 1989, when Jordan enjoyed an influx of petrodollars from the Gulf States. However, during the mid-1980s, sharply falling oil prices, coupled with a cutoff of Jordan's credit in world markets, created a budgetary crisis that severely threatened Jordan's distributive political economy. In her perspicacious examination, Katherine Blue Carroll explores the dynamic link between Jordan's business community and the state from 1983 to 2000, a period when declining rents and economic reform challenged the traditional rent-based economy. Jordan serves as a prime example of how state-business relations can be restructured to accommodate the demands of a market economy. By methodically examining the timing, content, and process of the change in state-business relations in Jordan, Carroll provides the scholarly community with a pertinent and valuable resource."--BOOK JACKET.

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