ECONOMIC MODERNIZATION POLICY IN THE ARAB OIL-EXPORTING STATES

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.

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