Economic Diversification In The Gcc

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Economic Diversification In The Gcc

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Author : Mr.Tim Callen
language : en
Publisher: International Monetary Fund
Release Date : 2014-12-23

Economic Diversification In The Gcc written by Mr.Tim Callen and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-12-23 with Business & Economics categories.

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.

Economic Diversification In Oil Exporting Arab Countries

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2016-04-29

Economic Diversification In Oil Exporting Arab Countries written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-29 with Business & Economics categories.

countries face similar challenges to create jobs and foster more inclusive growth. The current environment of likely durable low oil prices has exacerbated these challenges. The non-oil private sector remains relatively small and, consequently, has been only a limited source of growth and employment. Because oil is an exhaustible resource, new sectors need to be developed so they can take over as the oil and gas industry dwindles. Over-reliance on oil also exacerbates macroeconomic volatility. Greater economic diversification would unlock job-creating growth, increase resilience to oil price volatility and improve prospects for future generations. Macro-economic stability and supportive regulatory and institutional frameworks are key prerequisites for economic diversification...

Export Instability And The External Balance In Developing Countries

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Author : Atish R. Ghosh
language : en
Publisher:
Release Date : 1994

Export Instability And The External Balance In Developing Countries written by Atish R. Ghosh and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with categories.

Saudi Arabia In Transition

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Author : Bernard Haykel
language : en
Publisher: Cambridge University Press
Release Date : 2015-01-19

Saudi Arabia In Transition written by Bernard Haykel and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-01-19 with Business & Economics categories.

This book presents new insights and the most up-to-date research on Saudi Arabia's social, cultural, economic and political dynamics.

Shifting Geo Economic Power Of The Gulf

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Author : Dr Bessma Momani
language : en
Publisher: Ashgate Publishing, Ltd.
Release Date : 2013-03-28

Shifting Geo Economic Power Of The Gulf written by Dr Bessma Momani and has been published by Ashgate Publishing, Ltd. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-28 with Political Science categories.

Bringing together for the first time distinguished Gulf experts to analyse the renewed geo-economic prominence of the Gulf states, this volume investigates some of the 'new power brokers' in the world economy: the oil-exporting states of the Gulf. The Gulf Cooperation Council's (GCC) members: Bahrain, Kuwait, Oman, Qatar, the United Arab Emirates and Saudi Arabia, collectively have the largest proven oil reserves in the world and are among the world's largest oil-exporting states. Gulf Arab states are actively pursuing a variety of foreign investment strategies. Some of these investments are being managed by sovereign wealth funds, government investment corporations, and government-controlled companies. This renewed geo-economic status has received a lot of media attention but there has been a dearth of academic study on what this shift in global economic power means for the international economic system. This volume aims to fill this gap with a rigorous scholarly analysis based on primary sources and raw economic data. It brings together the expertise of academics who have devoted their career to careful study of the region and of renowned scholars of international political economy.

Economic Diversification In The Gulf Region Volume Ii

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Author : Ashraf Mishrif
language : en
Publisher: Springer
Release Date : 2018-01-09

Economic Diversification In The Gulf Region Volume Ii written by Ashraf Mishrif and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-01-09 with Political Science categories.

This volume explores the challenges to diversification in Gulf countries, which can no longer rely on profits from hydrocarbons to fund national expenditures. It elaborates on the problem of weak institutions, lack of coordination between policy makers and executors, limited investment in research and development, and a workforce that is too poorly skilled to compete in the private sector. In addition to analyzing issues in areas such as education, labor, business, and trade, the contributors underscore the importance of using global best practices to overcome fundamental weaknesses in the Gulf Cooperative Council's economic structure that limit opportunities for economic diversification. This is the second volume in Economic Diversification in the Gulf Region.

Fraternal Enemies

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Author : Clive Jones
language : en
Publisher: Oxford University Press, USA
Release Date : 2019

Fraternal Enemies written by Clive Jones and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with Political Science categories.

Unpicks the seeming contradiction in Israel and the Gulf States pursuing common objectives vis-à-vis Iran.

Economic Diversification In The Gulf Region Volume I

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Author : Ashraf Mishrif
language : en
Publisher: Springer
Release Date : 2017-12-27

Economic Diversification In The Gulf Region Volume I written by Ashraf Mishrif and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-12-27 with Political Science categories.

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.

Economic Development In The Gulf Cooperation Council Countries

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Author : Héla Miniaoui
language : en
Publisher: Springer Nature
Release Date : 2020-10-26

Economic Development In The Gulf Cooperation Council Countries written by Héla Miniaoui and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-10-26 with Political Science categories.

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.

Economic Diversification In The Gulf States Public Expenditure And Non Oil Economic Growth In Bahrain Oman And Qatar

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Author : Yesenn El-Radhi
language : en
Publisher:
Release Date : 2018

Economic Diversification In The Gulf States Public Expenditure And Non Oil Economic Growth In Bahrain Oman And Qatar written by Yesenn El-Radhi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with Economic development categories.

A long-standing economic policy goal of the oil-dependent states of the Gulf Cooperation Council is to increase economic diversification. Over the last decades, GCC governments fostered the development of non-oil economies through large-scale public investments in the stocks of human and physical capital. This book takes a new look at economic diversification efforts by examining the impact of different public expenditure categories (capital, education, health) on non-oil GDP and labour productivity developments in the three GCC countries Bahrain, Oman and Qatar since the 1970s. Building both.