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Crony capitalism: Friends in high places
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Tags: Current Focus, India,
The damage done to the economies of Tunisia, Egypt, Pakistan and other Arab countries by crony capitalism.
How crony capitalism damages the economies of developing countries from Tunisia to Egypt and Pakistan
10/14/2014
Under Ben-Ali, Mubarak and Musharraf, crony capitalism damaged the economies of Tunisia, Egypt and Pakistan. Declan Walsh's NYT report on Pakistan Railways is a timeless classic of such reporting. Military or military supported dictators handed key state companies or contracts to cronies leading to the mismanagement. For some reason more of this has happened in Arab or Muslim countries and may created the conditions for the democracy protests in the Arab world in 2012-2013. It also happens in countries with a large and growing number of young people in the population. Crony capitaism also exists in Malaysia and other Asian countries but it has not led to the gross mismanagment seen in countries such as Egypt and Pakistan.
Grouped Articles
Crony capitalism: Friends in high places
Economist 10/14/2014
Assassination in Tunisia Draws Spouse Into Politics
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At Birthplace of the Arab Spring, Discontent Opens a Door to the Past
New York Times 10/19/2014
Tunisia's presidential election: In the shade of Bourguiba
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Fund Controversy Threatens Malaysia’s Leader
Wall Street Journal 06/19/2015
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