 Economic Impact of Selected Conflicts in the Middle East: What Can We Learn from the Past?Randa Sab No 2014/100, IMF Working Papers from International Monetary Fund Abstract: Using narrative-based country-case studies, war episodes in the Middle East were examined to assess their economic impact on conflict and neighboring economies. The paper found that conflicts led to a contraction in growth, higher inflation, large fiscal and current account deficits, loss of reserves, and a weakened financial system. Post-conflict recovery depended on the economic and institutional development of the country, economic structure, duration of the war, international engagement, and prevailing security conditions. The net economic impact on neighboring countries varied according to their initial economic conditions, number and income level of refugees they hosted, economic integration, and external assistance. Keywords: WP; Iraq; Kuwait; financial system; Lebanon; Conflict; post-conflict economic recovery; Middle East; debt settlement program; excess demand; inflation in Kuwait; free market; invasion of Iraq; Lebanon's banking system; country-case study methodology; Inflation; Current account deficits; Financial sector; International reserves; Exchange rates; Global (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:2014/100 Ordering information: This working paper can be ordered from Access Statistics for this paper More papers in IMF Working Papers from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC. |
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