Political economy

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El-Anis, I. ORCID: 0000-0002-6918-4544, 2019. Political economy. In: P.R. Kumaraswamy, ed., The Palgrave handbook of the Hashemite Kingdom of Jordan. Singapore: Palgrave Macmillan, pp. 117-134. ISBN 9789811391668

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Official URL: https://doi.org/10.1007/978-981-13-9166-8

Abstract

Jordan offers us a very interesting case study of the ways in which modern global political and economic processes interact with local political economy to shape individual states. This chapter argues that Jordan, as a small state by most interpretations, faces immense structural limitations, yet under King Abdullah II, it has endured and its political economy has evolved in response to the dynamic set of challenges the country faces. This chapter first explores the most prevalent challenges and limitations to Jordan’s economic development and contextualizes the key features of Jordan’s political economy in the 21st century. This chapter also outlines the ways in which the political and economic issues that the kingdom faces shape national economic policy-making. Any discussion of the political economy of Jordan needs to consider energy insecurity and freshwater scarcity – two issues that are explored in detail in this chapter. Energy insecurity and freshwater scarcity reveal a great deal about the nature of Jordan’s political economy, representing Jordan’s most pressing security concerns and demonstrating the state’s pragmatism in its policy responses to developmental challenges. The chapter then explores the embedding of economic neoliberalism, led by the government and King Abdullah II in particular. Neoliberal policies have become prevalent in Jordanian decision-making circles and have transformed Jordan’s political economy – but are not particularly popular on the street. The chapter concludes that given the challenges facing Jordan’s political economy in the 21st century, it is safe to say that Jordan will remain a small state that will have to continue to respond to processes that are largely out of its control. Budgetary insecurity, poverty, high unemployment, energy insecurity, freshwater scarcity, and the polarising effects of economic neoliberalism all pose serious challenges to Jordan’s development and stability. Yet with all of these considerations in mind, the story of Jordan’s political economy is one of resilience as much as it is one of challenges, and the kingdom is likely to continue to develop, albeit somewhat unevenly.

Item Type:

Chapter in book

Alternative Title:

The political economy of Jordan

Creators:

El-Anis, I.

Publisher:

Palgrave Macmillan

Place of Publication:

Singapore

Date:

25 December 2019