Keywords: Malaysia, United Arab Emirates, UAE, Egypt, trade logistics, transparency, economic development, economic growth, infrastructure, social development, poverty, inequality, unemployment
Trade logistics and transparency as forces of economic development for Malaysia, United Arab Emirates and Egypt
The study tries to shed light on the question of why the economic development of Malaysia, United Arab Emirates (UAE) and Egypt had different success rates during the period from 1971 and 2009. The three countries are moderate Islamic countries and had started their economic development about the same time in 1970s. The study examines two factors that affect economic growth, the trade logistics related infrastructure and transparency. The findings point out to the importance of better logistics as major causes for fast economic development. The paper also provides a review of traditional and modern views of economic and social development with emphasis on the recent Arab spring and in particular Egypt's case. Egypt's 2011 revolution happened despite fast recent economic growth that failed to address the country's deep social problems. Egypt's case highlights the importance of regarding development as a multidimensional process involving social and economic development and not only economic development. Economic growth is not sufficient if it is not accompanied with reduction in poverty, inequality gap and unemployment.