Sharia Law and the Arab Oil Bust: PetroCurse or Cost of Being Muslim?

The delayed development of the Islamic world, in defiance of the formulaic approaches long favored by economists, suggests that the traditional Sharia and Islamic values and principles are at least partially responsible for the region's persistent backwardness. By analyzing the impact of the legal regime of the Sharia on Saudi Arabia during the Arab Oil Bust of the 1980s, this thesis concludes that Islamic social values and the Sharia's de facto role as an uncodified pre-emptive Arab common...