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The crucial importance of the Gulf region today – which may be defined as comprising the states of Saudi Arabia, Iraq, Kuwait, Oman, Bahrain, Qatar and the United Arab Emirates, with Iran as a non-Arab onlooker – has stimulated surprisingly little interest in academic circles. Much of what has been written, moreover, focuses exclusively on those aspects of direct concern to external interests. The focus of this book is on the Gulf region as an area with its own problems of social, economic and political development. It examines the dimensions of the attempts by the governments and peoples of the area to create new social, economic and political structures – stemming mainly, of course, from their new-found oil wealth. First published in 1980.
This book, first published in 1984, examines the countries of the Gulf Cooperation Council: Saudi Arabia, Kuwait, Bahrain, Qatar, Oman and UAE. Culturally, historically, geographically and politically the GCC countries represent a rare instance of regional homogeneity and they face similar problems and challenges. Despite their international importance as oil exporters, there is a lack of solid statistical information on each country or as a region as a whole. This book addresses that gap with a substantial collection of data on the individual countries and the larger region.
As the price of oil fell in the eighties the pressures on the Arab Gulf States to speed up the diversification of their economies into non-oil sectors increased. This book, first published in 1984, examines this problem and many other issues connected with the impact of oil revenues on development in the Gulf States. It considers changing oil production policies and developments in other sectors of the economy including agriculture, industry and banking. It explores population problems, moves towards Gulf economic coordination and the impact of oil on society, culture and education. This book provides an assessment of just how much the region depends on oil for its economic prosperity and development and some indication of the enormous problems that would face the region should the demand for oil decease still further.
This is the first book-length empirical study of free zones (FZs) in Gulf Cooperation Council (GCC) countries. The volume systematically illustrates the development processes behind FZs in Gulf Arab states and assesses the impact of these commercial entities on regional integration, global trade and investment trends, and the Gulf’s foreign relations. In the process, the work maps how economic strategies involving FZs evolve alongside varying levels of resource availability and state capacity on a local level while also revealing how development paths in Gulf Arab states are linked to regional and global accumulation circuits. FZ development is an under-examined topic in the wider literature on the Gulf. The empirical findings and theoretical implications of the work therefore offer an original contribution to prevailing political economy discussions concerning the Gulf region.
This insightful research collection examines the internal and external transformation of the Arab Gulf states and their repositioning within the global order. It explores the interlocking challenges of transition toward post-rentier structures of governance and assesses the domestic, regional and global implications. A multi-level approach begins with sections on domestic political and economic reform and the reformulation of domestic agendas to reflect new issues such as climate-change. Subsequent sections cover the evolution of regional security agendas, new trends in foreign policy and the Arab Gulf states' rapid emergence as global actors and provide a frank portrayal of this dynamic region.
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.
The Persian Gulf has come to represent one of the most strategically significant waterways of the world. In terms of geography, geopolitics, resources, global political economy, and regional influence, the Gulf is perhaps home to the world’s most significant group of countries. Focusing on the complexities of the interplay between domestic-level changes and region-wide interactions, this book presents the reader with the first comprehensive survey of the dynamics of change in this crucial area. Systemic-oriented in its approach, the impact of war and revolution on the countries of the sub-region is discussed, and the ways in which these factors have shaped the security dilemmas and responses of the Gulf States is also explored. The role of oil is examined in terms of the impact of its income on these states and societies, and the manner in which oil has shaped the integration of these states into the global system. Oil has shrunk developmental time in these countries, and has accelerated generational shift. At the same time, it has created the dialectical relationship which now characterizes the difficult balance between prosperity and instability which is at the heart of the sub-region. Casting new light on the workings of a strategically significant part of the international system, this book will be an essential resource for students and scholars of international relations, international security and Middle Eastern politics.
Some Persian Gulf states have capitalized on the quick pace of globalized fiscal transactions, transforming themselves into important markets for foreign investment. Others have fallen victim to such risky speculation. This has led the Gulf Cooperation Council (GCC) to reevaluate the integrity of the "Dubai Model" of economic diversification, as they search for an ideal method to organize their economies and compete within the global order. While exploring the greater dimensions that globalizing forces have brought to the political economies of Persian Gulf states, this book also considers recent changes instituted during and following the global economic crisis of 2008. While mutually beneficial rentier arrangements have guided the GCC countries' formation of oil-based economies and labor relations in the past, will this necessarily be true in the future? In addition to addressing this key concern, this volume confronts future demographic changes within GCC countries; the feasibility of establishing a GCC monetary union; the effects of rentierism on state autonomy; and the successes and failures of sovereign wealth funds and Islamic banking models.
This book examines the proposed currency union of the Gulf Co-operation Council (GCC) Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates which is due to come into effect in 2010.