Money, Legitimacy, and the Reproduction of Power in Yemen: A Study in the Political Economy of Conflict from the Era of Imam al-Hadi to the Contemporary State (283–1447 AH)
DOI:
https://doi.org/10.54582/TSJ.2.2.158Keywords:
Aids, Political Economy, Conflict, BankAbstract
This study aims to deconstruct the structure of the political economy of conflict in Yemen, tracing the central role of public funds in the reproduction of power and the entrenchment of influence from the era of the Hādawī state to the present day. The study adopts an integrative approach combining historical and descriptive-analytical methods with a comparative political economy approach. It argues that the Yemeni conflict is, at its core, a resource conflict: the Houthi group has replicated historical Imamate revenue-collection mechanisms to finance a war economy, while institutional fragmentation and financial division within the legitimate government camp have weakened the efficiency of the Central Bank. The study also highlights the problematic role of international humanitarian aid, which has provided financial cover that has prolonged the conflict. It concludes that there is a need for strict unification of sovereign revenues under the authority of the Central Bank in Aden and for restructuring the mechanisms of international aid flows to ensure that they are not exploited to finance the war effort of de facto authorities.
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