Economic Development in the Gulf Cooperation Council Countries
From Rentier States to Diversified Economies
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Beschreibung
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.
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.
Covers a variety of different topics relating to economic development in the GCC countries within the context of the respective socio-cultural and political domains, with a spotlight on the effect of the Qatar diplomatic crisis Presents a selection of unique empirical case studies showcasing the economic development trajectories of the GCC countries Discusses key opportunities and challenges for the GCC countries in terms of their economic development and diversification strategies and policies
Autor*in
Héla Miniaoui
Themen in »Economic Development in the Gulf Cooperation Council Countries«
Economic Development in the Gulf Economic Development GCC Countries Economic Diversification Gulf economy Rentier states Arab economy Oil economy of the Gulf Political economy of the Gulf Gulf crisis and economy Blockade and Gulf economy