A democratic system provides ‘trust between the largest number of people who do not know each other’ (Leca, 2014). It is in this context that finance and credit play the important, or even central, role of providing monetary means towards industrial or commercial opportunities fuelling economic growth. In this chapter, we will examine how the financial sector, and particularly credit activity in the Arab world, can contribute to transitions to more democratic processes through fostering economic growth, and trust based on rules and institutions rather than on previous acquaintance. We will compare the place and role of credit in the Organisation for Economic Co-operation and Development (oecd) countries and in the Middle East and North Africa (mena) © BASSEM SNAIJE, 2017 | DOI 10.1163/9789004336452_008

This is an open access chapter distributed under the terms of the cc-BY-NC License.

and discuss how it could promote or impede transitions to more democratic processes and economic growth in the Arab world.

< Prev   CONTENTS   Source   Next >