ECONOMIC MODERNIZATION POLICY IN THE ARAB OIL-EXPORTING STATES

Abstract

The article deals with the practice of macroeconomic policy in the Arab oil-exporting states which implement strategy of large-scale economic modernization. Reality of transitional economy demands specific forms of state-private partnership to achieve significant socio-economic results. The Arab oil-exporting states experience of economic modernization proves that management of national market can’t be effective without consolidated sectors with state participation.

Keywords

• economic modernization
• arab oil-exporting states
• economic policy
• priorities of development
• companies with state participation
• state-private partnership
• effective governmental management