Publication

Seasoned observers of Syria's political economy have learned not to make much of apparent political changes there. This lesson holds today, but with a twist. Five years after the death of al-Assad senior, hopes, proclamations, and a series of promised "springs" have gone unrealised. Economically, Syria's growth has been lagging, with opportunities diminishing due to its dwindling (known) oil reserves and the dearth of higher skills within the labor market. While stable, Syria's political institutions are stagnant and its regional sphere of influence is diminished by the loss of hitherto powerful foreign policy tools.