ABSTRACT
Since 1974, Jordan's economy has experienced a dramatic change in its fortune with a spectacular boom in the period 1974-1982 and a severe recession since 1982. The World Bank's World Development Report, 1985 listed Jordan as the country with the highest growth rate in real gross domestic product (GDP) for the decade 1973-1983. The compounded average real growth rate of real GDP was 9.4% for the period 1974-1982, whereas it was a mere 2.1% for the period between 1982 and 1986. Given an estimated population growth rate of 3.9% per annum, the per capita real GDP increased by 5.5% per annum during the period 1974-1982, whereas it declined by an average of 1.6% per annum in the period 1982-1986. (1)
