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The Economics of Palestine : Economic Policy and Institutional Reform for a Viable Palestine State - David Cobham

The Economics of Palestine

Economic Policy and Institutional Reform for a Viable Palestine State

By: David Cobham (Editor), Numan Kanafani (Editor)

Hardcover Published: 29th July 2004
ISBN: 9780415327619
Number Of Pages: 324

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This book aims to set the intense political debates on one side in order to do some serious economic analysis. It assumes that a sovereign independent Palestinian state comes into existence in the West Bank and Gaza Strip, and proceeds to examine the economic policies and institutional reforms which would be appropriate for it. Key recommendations are that such a state should:
* adopt a non-discriminatory trade regime
* introduce a new currency with a currency board and later a hard peg to the euro
* establish a new type of pension scheme combining universal and work-based elements
* adopt an economic strategy geared to the modern knowledge-based global economy and based on the identification of clusters, and
* take a forward-looking approach to the compensation of refugees which relates compensation to the cost of absorbing returning refugees in a viable and growing economy.
Budgetary policy, corporate governance, financial sector reform and foreign aid strategy are also discussed, and an incomplete contracts model of integration is presented.
The contributors are internationally respected economists from a variety of countries and perspectives. Their analysis should be accessible and relevant to readers of many kinds, from students and academics involved with development economics, politics, and international relations through to policy-makers and those with a general interest in the Middle East.

'A peaceful solution between Israel and a Palestinian State will be sustainable and stable only when the Palestinians will enjoy the economic dividends of peace. This book captures the main economic issues and presents the required economic policies that will secure economic prosperity for a newly born Palestinian State.' - Haim Ben-Shahar, Emeritus Professor of Economics, Tel Aviv University

'How should a sovereign Palestinian state design its economic institutions and how should it run its economy? This book contains new and innovative research on these topics. It is essential reading for all those interested in peace and prosperity in the region, irrespective of their political persuasions. It also makes good reading for those interested in the interplay between politics, institutions and economic development.' - Christopher Pissarides, Professor of Economics, London School of Economics

List of figuresp. ix
List of tablesp. xi
Notes on contributorsp. xii
List of abbreviationsp. xvi
Introductionp. 1
The choice of trade regime depends on multiple other factorsp. 12
Discussionp. 33
Alternative currency arrangementsp. 38
Discussionp. 60
Budgetary and fiscal policyp. 64
Discussionp. 92
The role of the financial sectorp. 95
Discussionp. 109
Company law and corporate governancep. 113
Discussionp. 140
Structuring a pension scheme for a future Palestinian statep. 143
Discussionp. 172
Discussionp. 174
Strategies for economic development, the role of Gaza and the future of the refugee campsp. 176
Discussionp. 205
Foreign aid strategyp. 208
Discussionp. 230
Absorbing returnees in a viable Palestinian state: a forward-looking macroeconomic perspectivep. 235
Discussionp. 275
Discussionp. 277
Incomplete contracts, the port of Gaza and the case for economic sovereigntyp. 281
Discussionp. 291
Indexp. 294
Table of Contents provided by Rittenhouse. All Rights Reserved.

ISBN: 9780415327619
ISBN-10: 041532761X
Series: Routledge Studies in Development Economics
Audience: Tertiary; University or College
Format: Hardcover
Language: English
Number Of Pages: 324
Published: 29th July 2004
Country of Publication: GB
Dimensions (cm): 24.28 x 15.49  x 2.29
Weight (kg): 0.63
Edition Number: 1