A quantitative study examines how heightened geopolitical risk, coupled with lower oil prices, hampers the economic potential of mega construction projects in Arab Gulf states.

The impending demise of petrodollar-supported capitalist Islamism, the failures of which begat 21st century terrorist Islamism, incentivizes the Muslim middle class and timocracies to find another outlet for Muslim liberation theology. This amplifies manifold the risks (and potential, but limited, benefits) of “Islamic finance.”  

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Abstract

The global "great recession" was…