![]() ![]() While the figures are difficult to verify, half a million civilians and combatants are estimated to have died from the conflicts in the region since 2011. There are four major channels through which conflict affects economies.įirst, death, injury, and displacement seriously erode human capital. Violent conflict has worsened conditions for a region already facing structural deficiencies, low investment, and, more recently, the oil price drop, which has had a substantial impact on oil-producing economies. Clashes have also spilled over to other countries, causing problems that are expected to persist-such as economic pressures from hosting refugees. Iraq’s economy remains fragile owing to the conflict with the Islamic State (ISIS) and the fall in oil prices since 2014. Libya, Syria, and Yemen experienced deep declines in their economies with sharp increases in inflation between 20. These conflicts have enormous human and economic costs, both for countries directly involved and for their neighbors. Today, rarely a day passes without media reports of violence, large-scale human suffering, and major destruction in such countries as Iraq, Syria, and Yemen. On average, countries in this region have experienced some form of warfare every three years. Nowhere in the world has conflict been as frequent or as violent over the past 50 years as in the Middle East and North Africa. Middle East strife is exacting a heavy toll on regional economies Phil de Imus, Gaëlle Pierre, and Björn Rother ![]() Finance & Development, December 2017, Vol. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |