Economic Development in the Gulf Cooperation Council Countries
Economic Development in the Gulf Cooperation Council Countries

Author: Héla Miniaoui

Publisher: Springer Nature

Published: 2020-10-26

Total Pages: 217

ISBN-13: 9811560587

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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.

Policy Challenges in the Gulf Cooperation Council Countries
Policy Challenges in the Gulf Cooperation Council Countries

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 1996-05-23

Total Pages: 44

ISBN-13: 9781557755827

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The Gulf Cooperation Council (GCC) countries face important policy challenges and opportunities. This paper covers the economic developments and policies since 1980; the impact of the GCC's external environment; the medium-term economic prospects; the broad outlines of a common adjustment and reform strategy, and the implications of adjustment in the GCC countries on the rest of the Middle East and North Africa region.

Gulf Cooperation Council Countries (GCC)
Gulf Cooperation Council Countries (GCC)

Author: Samya Beidas-Strom

Publisher:

Published: 2011-10-02

Total Pages:

ISBN-13: 9781484383315

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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.

The Gulf Cooperation Council
The Gulf Cooperation Council

Author: Linda Low

Publisher: Institute of Southeast Asian Studies

Published: 2011

Total Pages: 71

ISBN-13: 9814311405

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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.

Sustainability in the Gulf
Sustainability in the Gulf

Author: Elie Azar

Publisher: Routledge

Published: 2017-07-31

Total Pages: 356

ISBN-13: 1351705091

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Sustainability is a topic of great interest today, particularly for the Gulf Cooperation Council (GCC) countries, which have witnessed very rapid economic and demographic growth over the past decade. The observed growth has led to unsustainable consumption patterns of vital resources such as water, energy, and food, highlighting the need for an urgent shift towards green growth and sustainable development strategies. Sustainability in the Gulf covers the region’s contemporary development challenges through the lens of the UN’s Sustainable Development Goals (SDGs), which place sustainability at the centre of the solution to the current environmental, economic, and social imbalances facing GCC countries. The book presents multiple analyses of Gulf-specific sustainability topics, examining the current status, challenges, and opportunities, as well as identifying key lessons learned. Innovative and practical policy recommendations are provided, as well as new conceptual angles to the evolving academic debates on the post-oil era in the Gulf. Through chapters covering sector-related studies, as well as the socio-economic dimensions of the sustainability paradigm, this volume offers valuable insights into current research efforts made by the GCC states, proposing a way forward based on lessons learned. This is a valuable resource for students, academics, and researchers in the areas of Environmental Studies, Political Economy, and Economics of the GCC states.

Economic Diversification in the GCC
Economic Diversification in the GCC

Author: Mr.Tim Callen

Publisher: International Monetary Fund

Published: 2014-12-23

Total Pages: 32

ISBN-13: 1498303234

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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.

Bridging the Gulf: EU-GCC Relations at a Crossroads
Bridging the Gulf: EU-GCC Relations at a Crossroads

Author: Silvia Colombo

Publisher: Edizioni Nuova Cultura

Published: 2014-05-27

Total Pages: 358

ISBN-13: 8868122847

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Relations between the European Union (EU) and the Gulf Cooperation Council (GCC) are at a crossroads. After the derailment of the negotiations for the Free Trade Agreement (FTA) in 2008, the cooperation between the two regional blocs has remained low-key in a number of different areas, while the unprecedented changes that have taken place in North Africa and the Middle East, the common neighbourhood of the EU and the GCC, have not led to a renewed, structured cooperation on foreign and security policy issues. This volume addresses the shortcomings and potential of EU-GCC relations by taking stock of their past evolution and by advancing policy recommendations as to how to revamp this strategic cooperation. In this light, it highlights the areas where greater room for manoeuvre exists in order to enhance EU-GCC relations, discusses the instruments available and sheds light on the features of the regional and international context that are likely to significantly influence the new phase in the mutual relation between the two blocs. The book is the result of the research conducted in the framework of the project ‘Sharaka – Enhancing Understanding and Cooperation in EU-GCC Relations’ co-funded by the European Commission.

Gulf Cooperation Council: Economic Prospects and Policy Challenges for the GCC Countries
Gulf Cooperation Council: Economic Prospects and Policy Challenges for the GCC Countries

Author: International Monetary Fund. Middle East and Central Asia Dept.

Publisher: International Monetary Fund

Published: 2023-12-14

Total Pages: 74

ISBN-13:

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The GCC region’s non-hydrocarbon growth momentum remains strong, driven by higher domestic demand, increased gross capital inflows, and reform implementation. Oil production – which depends on OPEC+ decisions – will be subdued in the near term. Inflation is contained and current account surpluses are high. Fiscal balances remain healthy, supported by fiscal reforms and high oil prices. The primary non-oil deficits are expected to decrease to 24 percent of GDP by 2028, with higher non-oil revenue reflecting sustained fiscal and structural reforms and contained expenditures. High global uncertainty is weighing on the outlook.

PISA 2009 Technical Report
PISA 2009 Technical Report

Author: OECD

Publisher: OECD Publishing

Published: 2012-03-27

Total Pages: 390

ISBN-13: 9264167870

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The PISA 2009 Technical Report describes the methodology underlying the PISA 2009 survey. It examines additional features related to the implementation of the project at a level of detail that allows researchers to understand and replicate its analysis.