Securing Peace in the Middle East: Project on Economic Transition

by Stanley Fischer

Based on the joint efforts of Israelis, Jordanians, and Palestinians, in conjunction with economists from Harvard and the Massachusetts Institute of Technology, this book describes a cohesive plan for an integrated Middle East economy. It specifies actions and studies in areas where there are pressing and important issues, and where rapid progress is possible.

Specifically, the plan assumes Palestinian economic sovereignty in the West Bank and Gaza. It calls for a market-driven economy and free trade among the three economies, and regional projects to further develop shared interests. Additional recommendations call for the Palestinians to take over the existing Civil Administration in the West Bank and Gaza, expansion of the financial sector, and removal of the restrictions on Palestinian employment in Israel to allow as many as 100,000 Palestinians to work there.

202 pages, Hardcover

First published February 9, 1994

About the author

Stanley Fischer was an American and Israeli economist who served as the 20th vice chair of the Federal Reserve from 2014 to 2017. Fischer previously served as the 8th governor of the Bank of Israel from 2005 to 2013. Born in Northern Rhodesia (now Zambia), he held dual citizenship in Israel and the United States. He previously served as First Deputy Managing Director of the International Monetary Fund and as Chief Economist of the World Bank. On January 10, 2014, President Barack Obama nominated Fischer to the position of Vice Chair of the Federal Reserve. On September 6, 2017, Fischer announced that he was resigning as vice-chair for personal reasons effective October 13, 2017. He was a senior advisor at BlackRock.