Economic Challenges in the Gulf Cooperation Council Countries

Description

Moving Toward Economic Diversification and Sustainability
This timely book examines how Gulf Cooperation Council (GCC) countries can successfully navigate the structural transformation towards a post-oil future. Moving beyond generalized policy prescriptions, it comprehensively explores crucial obstacles and opportunities to define a path forward for the GCC region.
This timely book examines how Gulf Cooperation Council (GCC) countries can successfully navigate the structural transformation towards a post-oil future. Moving beyond generalized policy prescriptions, it comprehensively explores crucial obstacles and opportunities to define a path forward for the GCC region.

Contributing authors demonstrate how meaningful income diversification requires a fundamental rewiring of the GCCs economic, institutional and social fabric. They address the entrenched structural challenges arising from the economic dominance of oil and gas, as well as the dominant role of the state and the nature of its sovereign wealth funds. The book emphasizes the importance of developing a dynamic private sector, cultivating human capital and redefining the social contract between the state and people. It also outlines key macroeconomic and institutional frameworks, providing specific sectoral strategies and innovative policy approaches focused on both economic diversification and sustainability.

Economic Challenges in the Gulf Cooperation Council Countries is an essential resource for scholars and students interested in the global transition following climate change. It will be of particular interest to those in the fields of Middle East studies and development and energy economics.