The Merchant Republic of Lebanon: Rise of an Open Economy
Publisher:The Centre for Lebanese Studies and I B Tauris & Co Ltd, Oxford and London, 1998.
Ebook ISBN:ISBN 7981 86064 047 8
This work examines the economic agents, institutions, incentives, competences and other forces that forged a Lebanese economic model known as the ‘Merchant Republic’ in the aftermath of World War II. Carolyn Gates has identified the broad concept of outward-orientation to describe the Lebanese economy. Dominant economic and political agents sought to develop the economy on the basis of its intermediary role, regional comparative advantage and competitive position in offshore service operations – all of which were viewed as essential to the viability of the small Lebanese state.
This book integrates a theoretical and empirical examination of the Lebanese model and provides data and analysis about its effect on economic growth and structural change during its golden age.