1945

Conclusion: A rights-based macroeconomic policy for the ESCWA region

The oil boom offers an opportunity for ESCWA countries to shift their economic policies away from a conventional agenda and orientate them towards a new rights-based compact. Such a compact would offer these countries the opportunity to direct the resources made available through the oil price boom towards a sustainable alternative economic growth model that is simultaneously broad-based, democratic, employment-intensive and distributionally progressive. This concluding chapter examines five macroeconomic aspects of rights-based development strategies, namely: investment and growth; fiscal policy and public investment issues; monetary and financial policy; balance of payments policy; and regional integration. These are preceded by a review of rights-based policy issues in the context of a resource-fuelled boom.

Related Subject(s): Economic and Social Development
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