Economic Development in the Gulf Cooperation Council Countries PDF Download

Author: Héla Miniaoui
Publisher: Springer Nature
ISBN: 9811560587
Category : Political Science
Languages : en
Pages : 217

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Book Description
This book delves into the economic development of the six Gulf Cooperation Council (GCC) countries. Since the 1960s, the GCC states have harnessed their potential to exploit the wealth accrued from the oil boom to build their infrastructure and grow their economies. However, the high level of dependency on oil as the primary source feeding their output made their economies volatile and vulnerable to fluctuations in the global oil prices. Moreover, the plunge in oil prices and the threat of depletion of this natural resource pose serious challenges to the GCC countries. Consequently, the GCC governments have realized the importance of diversifying their economies following the need to move away from reliance on hydrocarbon. This book contributes to the theoretical literature by enriching the debate on the transition of the GCC countries from rentier states to diversified economies. It helps students and scholars understand this transformation with an expansive comprehension of the contemporary challenges facing the region, as well as outlining prospects for the future.

Author: Samya Beidas-Strom
Publisher:
ISBN: 9781484383315
Category :
Languages : en
Pages :

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Book Description
Departmental papers are usually focused on a specific economic topic, country, or region. They are prepared in a timely way to support the outreach needs of the IMF’s area and functional departments.

Author: Linda Low
Publisher: Institute of Southeast Asian Studies
ISBN: 9814311405
Category : Business & Economics
Languages : en
Pages : 71

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Book Description
The Gulf Cooperation Council (GCC) is comprised of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. Possessing a significant share of the world's oil and gas reserves and including some of the world's fastest growing economies, the GCC is a significant regional grouping. As with the Association of Southeast Asian Nations (ASEAN), the Council has made significant progress towards economic integration. Seeking to draw out lessons applicable to ASEAN, this report looks at the structure and evolution of the GCC. This includes the context within which the Council was established, its rationale, and economic importance. It then follows the organization's development over time, paying particular importance to its progress from Customs Union and Common Market towards Monetary Union. The report then sets out the key challenges ahead for the Council, and concludes by highlighting the structural, organizational, and political lessons that resonate with ASEAN and its membership.

Author: Mr.Tim Callen
Publisher: International Monetary Fund
ISBN: 1498303234
Category : Business & Economics
Languages : en
Pages : 32

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Book Description
Abstract: The economies of the six Gulf Cooperation Council (GCC) countries are heavily reliant on oil. Greater economic diversification would reduce their exposure to volatility and uncertainty in the global oil market, help create jobs in the private sector, increase productivity and sustainable growth, and help create the non-oil economy that will be needed in the future when oil revenues start to dwindle. The GCC countries have followed many of the standard policies that are usually thought to promote more diversified economies, including reforms to improve the business climate, the development of domestic infrastructure, financial deepening, and improvements in education. Nevertheless, success to date has been limited. This paper argues that increased diversification will require realigning incentives for firms and workers in the economies—fixing these incentives is the “missing link” in the GCC countries’ diversification strategies. At present, producing non-tradables is less risky and more profitable for firms as they can benefit from the easy availability of low-wage foreign labor and the rapid growth in government spending, while the continued availability of high-paying and secure public sector jobs discourages nationals from pursuing entrepreneurship and private sector employment. Measures to begin to address these incentive issues could include limiting and reorienting government spending, strengthening private sector competition, providing guarantees and financial support for those firms engaged in export activity, and implementing labor market reforms to make nationals more competitive for private sector employment.

Author: Giacomo Luciani
Publisher: Springer Nature
ISBN: 9811557284
Category : Political Science
Languages : en
Pages : 365

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Book Description
This open access book questions the stereotype depicting all Gulf (GCC) economies as not sustainable, and starts a critical discussion of what these economies and polities should do to guarantee themselves a relatively stable future. Volatile international oil markets and the acceleration of the energy transition has challenged the notion that oil revenues are sufficient to sustain oil economies in the near to medium term. But what is the meaning of economic sustainability? The book discusses the multiple dimensions of the concept: economic diversification, continuing value of resources, taxation and fiscal development, labor market sustainability, sustainable income distribution, environmental sustainability, political order (democracy or authoritarianism) and sustainability, regional integration. The overarching message in this book is that we should move on from the simplistic branding of the Gulf economies as unsustainable and tackle the details of which adaptations they might need to undertake.

Author: Ashraf Mishrif
Publisher: Springer
ISBN: 9811057834
Category : Political Science
Languages : en
Pages : 260

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Book Description
This volume focuses on the role of the private sector in diversifying the economics of Gulf countries in the post-petrodollar era, when fluctuating and declining oil prices are negatively impacting national expenditures. It explores current policies of countries in the Gulf Cooperation Council and their efforts to shift their economies away from heavy dependence on hydrocarbons. The structural changes will create favorable conditions for the private sector to flourish, shift production dependence from public to private sector, and allow for more efficient resource allocation. Such changes will also allow local banks to provide financial support to small and medium enterprises, boost entrepreneurship for job creation, and strengthen organizational structure and efficiency. This is the first volume in Economic Diversification in the Gulf Region.

Author: Adam Hanieh
Publisher: Cambridge University Press
ISBN: 1108429149
Category : Business & Economics
Languages : en
Pages : 315

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Book Description
An original and empirically grounded analysis of the Gulf monarchies and their role in shaping the political economy of the Middle East.

Author: David Bryde
Publisher:
ISBN: 9783940924629
Category : Environmental policy
Languages : en
Pages : 0

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Book Description
The Arab Gulf states all face increasing challenges in terms of sustainable consumption and production. These include: - Environmental sustainability issues such as waste, recycling, water usage, energy, including the use of renewables, and pollution - Economic sustainability issues including employment opportunities for local people, education and training and engagement of business and individuals that make up the supply chains - Social sustainability issues such as safety at work, working hours, equality and diversity, noise, dust and pollution, traffic congestion, stakeholder engagement and community involvement in decision-making While much of the previous research on this subject has been Western-centric, the present book includes contributions on these topics from specialists from the UAE, Bahrain, Lebanon, Egypt, Oman, Saudi Arabia, Morocco and Qatar as well as from the US and the UK.

Author: Ms.May Y Khamis
Publisher: International Monetary Fund
ISBN: 1589065107
Category : Business & Economics
Languages : en
Pages : 28

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Book Description
Departmental papers are usually focused on a specific economic topic, country, or region. They are prepared in a timely way to support the outreach needs of the IMF’s area and functional departments.

Author: Afreen Siddiqi
Publisher:
ISBN: 9783959940023
Category : Economic development
Languages : en
Pages : 0

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Book Description
The Arab states of the Gulf, currently heavily reliant on oil and gas exports, have stated their intention to promote economic diversification and have embarked on reforming existing institutions for higher education, scientific research, and technology innovation. The region has witnessed huge population growth in recent decades, and in some cases (e.g. Saudi Arabia) almost half the population is under the age of twenty-five and in need of access to quality education and meaningful employment opportunities. This book provides an in-depth discussion of what is needed to accelerate the development of science, technology and innovation in the Gulf. Among other issues, the authors discuss the need for regional collaboration, and tackle systemic challenges such as immigration policies, career incentives for GCC citizens, and increased inclusion of women in the workforce.