A Very Political Economy: America's Search for a Postconflict Stability Force

Professor Brynen has produced here a in-depth study of the role that foreign investment funds played in the pursuit of the elusive "peace dividend" after the Oslo Process. Very simply, his thesis is that, in spite of the numerous logistical obstacles to disbursement that arose, as well as the disturbing frequency of graft and nepotistic practices in the disbursement, these investment funds served a positive function.Under the terms of the Declaration of Principles, signed in 1993, a body of funds was established, into which the donor nations made payment. The funds were then to be distributed to deserving projects in the Palestinian Territories (West Bank and Gaza Strip) with the said purpose of ameliorating living conditions there, and endeavouring to produce some sense of a tangible benefit resulting from the peace process (co-optation, also, of spoilers)...hence the term "peace dividend". Though this dividend did not materialise, and has not materialised, due to a myriad of reasons, these investment funds nonetheless aided in creating a marginally more stable environment in which the Palestinian Authority could function. This is a lucid, insightful scholarly analysis, and a deserving resource for all students of Near Eastern Affairs and for all readers taking an interest in the region. Highly recommended.