Economies of Middle Eastern Countries Term Paper

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The workforce participation by women is higher in industrialized countries than ME countries. The years of compulsory schooling are lower in ME countries and the illiteracy rates are generally higher. The GDP is generally lower in ME countries than industrialized countries, as is the GDP per capita. Most of the ME countries are predominantly Muslim, where the industrialized countries are predominantly Christian. The birth rates are generally higher in the ME countries and there is a higher ratio of men to women.

Human Capital and the Middle East

1.a.

The co-efficient is 0.092.

1.b.

The regression coefficient is 0.04.

2. The estimated rate of return would be calculated using:

0.092x + e3.309 where x is the number of years schooling.

So the estimated return of 1 year of schooling would be $27.4.

As the regressions obtained are quite similar between the ME countries and industrialized countries it would be suggested that the differences in the amount of time spent at school would make a difference to GDP per capita in the ME countries.

These estimates are similar to the ones which I obtained. I estimated that returns would be approximately 9.2 percentage points for all the countries studied, and approximately 4 percentage points in ME countries.

The projections are given in the table. Data was not available for all countries so there are blank spaces were the projection could not be calculated.

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Country

Projected GDP per capita

Turkey

Syria

Lebanon

Israel

West Bank and Gaza

Iraq

Iran

Saudi Arabia

Egypt

Libya

Yemen

Oman

United Arab Emirates

Qatar

Bahrain

Kuwait

Other Countries

Argentina

Australia

Brazil

Germany

Italy

France

Mexico

Netherlands

Norway

Russia

Spain

South Korea

UK

USA

Country

GDP per capita

Projected GDP per capita

Turkey

Syria

Lebanon

Israel

West Bank and Gaza

Iraq

Iran

Saudi Arabia

Egypt

Libya

Yemen

Oman

United Arab Emirates

Qatar

Bahrain

Kuwait

Other Countries

Argentina

Australia

Brazil

Germany

Italy

France

Mexico

Netherlands

Norway

Russia

Spain

South Korea

UK

USA

Based on these calculations the difference between Syria's GDP and that of the U.S. cannot be attributed to schooling

Based on these calculations the difference between Qatar's GDP and that of the U.S. could be attributed to differences in length of schooling.

The main reasons for lack of investment in human capital in ME countries may be the lack of stability in the country due to the differences in political regime and conflict.

We should not expect that they invest less in human capital, as this is a means by which the market perfection may be improved.

There are other factors which will impact upon both the between and within comparisons, such as religious issues and governmental policy issues.

a. The main findings in the figure indicate that during the eighties there was a wide difference between the economic.....

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