| ID | 186159 |
| Title Proper | Emergence of the ‘sovereign debt crisis’ in 1970s MENA economies |
| Language | ENG |
| Author | Romagnoli, Alessandro |
| Summary / Abstract (Note) | Although the sovereign debt is primarily a long-term accounting occurrence that can emerge in the public budget, its management refers to the economic sphere as much as to the political one. Moreover, as its structure and size depend on the decisions made in both domains in a certain context, space, and time circumstances matter in debating the problem. Thus, the study of the nineteen eighties MENA economies ‘sovereign debt crises must consider also the contextual economic and political conditions and behaviours. Since these aspects represent usually subject matters for different disciplinary fields, it is difficult to take into consideration all of them without a multifaceted keynote. The concept of ‘economic policy paradigm’ can represent an analytical economic device that, alongside with the economic nature of the budget crisis, can also embed the players and the strategic interests acting in the negotiation process and in the application of the economic measures to cancel out the sovereign debt. The paper applies such analytical framework to show how, due to a change in the ‘economic policy paradigm for the development,’ the emergence of the public debt in nineteen seventies MENA economies became the ‘sovereign debt crises. |
| `In' analytical Note | Middle Eastern Studies Vol. 58, No.5 : Sep 2022: p.712-727 |
| Journal Source | Middle Eastern Studies Vol: 58 No 5 |
| Key Words | Economy ; Sovereign Debt Crisis ; Economic Development Paradigms ; MENA Economies |