Essays in twentieth century Middle Eastern economic development (Ph.D. Thesis)

This thesis studies problems pertaining to capital accumulation in the context of 20th century Middle Eastern economic development. Chapter two outlines economic growth in inter-war Egypt, focusing on the pattern and determinants of Egyptian physical and human capital accumulation, and also distinguishing internal factors from those operating in the inter-war global economy. Chapter three examines the Egyptian cotton policy regime in the first half of the 20th century, and evaluates Egypt's ability to impose an export cotton tariff to its advantage. Chapter four examines the contribution of Islamic banking and financial instruments to long-term investments in the growth-oriented sectors of Muslim economies. A majority of Islamic banks do not conform to the principle of profit-and-loss sharing, most financial operations are directed away from agriculture and industry, and long-term financing is rarely offered to entrepreneurs.