@inbook{d24f9b958f4b487e8193d031e658ce28,
title = "Globalized finance capital, hegemony and the Middle East: through the lens of radical political economy",
abstract = "This chapter examines the role of the global political economy, above all the changing relative power of global finance capital, in relation to the Middle East region. It details not only the profound impact of finance capital on the region, but also the pivotal role of Middle East oil on finance capital. It first shows the role of global finance capital, promoted by the UK and US hegemons in reducing MENA to a periphery of the global capitalist core; then how the brief rollback of finance capital's global dominance opened the door to enhanced regional autonomy, how the subsequent restoration of global finance capital was enabled by MENA oil and how this outcome in turn restored the developmental and geopolitical dependency of MENA on the global core.",
keywords = "Middle East, Globalisation, Finance capital, Hegemony, Political economy, Neo-liberalism, MENA, Oil",
author = "Raymond Hinnebusch",
year = "2023",
month = oct,
day = "13",
doi = "10.4337/9781802205633.00026",
language = "English",
isbn = "9781802205626",
series = "Elgar handbooks in political science",
publisher = "Edward Elgar Publishing Ltd",
pages = "351--367",
editor = "Shahram Akbarzadeh",
booktitle = "Handbook of Middle East politics",
}
