Netanyahu Likud I — supply-side pivot, Wye River stall, Oslo slowdown

Doctrine — stated goals and content

Economic school: supply-side Likud — shift from Rabin-Peres Oslo-era state+peace-dividend assumption toward Anglo-American liberal-market framing (tax cuts, privatisation, deregulation). Left-right axis: centre-right — pro-market on domestic reform, hawkish on Oslo implementation (slowdown on withdrawals but signed Hebron Protocol January 1997 and Wye River Memorandum 23 October 1998). Dated policies: privatisation acceleration of Bezeq, Bank Leumi tranches, and El Al preparation; Hebron Protocol 17 January 1997 (80% of Hebron to PA); Wye River Memorandum 23 October 1998 (further West Bank withdrawals, largely unimplemented); Bank of Israel maintained tight monetary stance under Frenkel (base rate 13-14% early 1996, moderated to 11% by 1999). Popularity: narrow May 1996 direct-PM victory over Peres (50.5% to 49.5%); coalition fractured mid-1999 over Wye implementation; lost May 1999 election to Barak (56%-44%). Coherence: moderate — supply-side economic frame coexisted with security hawkishness but coalition politics blocked full agenda.