Natural Resources and Economic Diversification: Evidence from the GCC Countries

2018 ◽  
pp. 21-49 ◽  
Author(s):  
Nouf N. Alsharif
Keyword(s):  
Natural Resources ◽  
Economic Diversification ◽  
Gcc Countries

The Role of Natural Resources

2019 ◽  
pp. 39-66
Author(s):  
Richard Pomfret
Keyword(s):  
Natural Resources ◽  
Central Asia ◽  
Oil And Gas ◽  
Resource Curse ◽  
First Century ◽  
Economic Diversification ◽  
Commodity Export ◽  
Twenty First Century

This chapter examines the characteristics of the natural resources that are important for Central Asia. At independence, cotton was the most important commodity export from Central Asia, but cotton did not share in the commodity boom, never repeating the 1995 peak price of over a dollar per pound. In the twenty-first century, cotton has been displaced by oil and gas and minerals. However, all the governments have shown concern about ongoing dependence on primary product exports, whose importance increased after independence despite plans for economic diversification. The chapter then reviews the resource curse literature that highlights why primary product dependence may be harmful. Resource curse outcomes are not inevitable, but resource-abundant countries do face significant obstacles if they want to avoid such an outcome.

Tehran and Muscat could deepen economic ties

2017 ◽  
Keyword(s):  
Saudi Arabia ◽  
Political Agenda ◽  
The Political ◽  
Economic Diversification ◽  
Content Type ◽  
Economic Relations ◽  
Military Alliance ◽  
Gcc Countries ◽  
Financial Benefits ◽  
Economic Ties

Significance Oman has historically maintained strong business and diplomatic links with Iran, cutting across the anti-Iranian political agenda pressed by Saudi Arabia on the other Gulf Cooperation Council (GCC) countries. Economic relations are now more important for Muscat than Tehran, while the political ties are most useful for Iranian foreign policy. However, Oman in January 2017 joined the Saudi-led Islamic Military Alliance to Fight Terrorism, comprising 40 countries excluding Iran and Iraq. Impacts Oman’s urgent need for economic diversification will broaden its search for economic partners. If the Iran-Saudi Arabia regional confrontation worsens, Oman’s midway stance could be tilted by financial benefits from either side. In case of a serious Washington-Tehran showdown, Muscat would maintain quiet links with Iran, but ultimately prioritise US relations.

Next-generation Gulf monarchs will set new rules

2020 ◽  
Keyword(s):  
Large Scale ◽  
Energy Transition ◽  
Gulf Cooperation Council ◽  
Current Line ◽  
Economic Diversification ◽  
The West ◽  
Content Type ◽  
Gcc Countries ◽  
Social Liberalism

Significance This brings in different perspectives on issues such as economic diversification, social liberalism, Israel and the role of the Gulf Cooperation Council (GCC). Impacts Longstanding fears of family splits over the succession could persist in Kuwait and potentially Saudi Arabia. The GCC will become even less significant, lacking any economic, infrastructural or security role. Large-scale ‘giga-projects’ raise concerns that vanity is outweighing viability. The prospect of receding support from GCC countries could undermine entrenched elites in both the West Bank and Beirut. The upcoming ‘energy transition’ will face the current line-up of rulers with a unprecedented economic crisis in the coming years.

Structural Transformation and Economic Diversification in West African Countries

2016 ◽  
Vol 1 (1) ◽  
pp. 3
Author(s):  
Mesut YILMAZ ◽  
Yessengali OSKENBAYEV
Keyword(s):  
Natural Resources ◽  
West African ◽  
Dutch Disease ◽  
Trade Theory ◽  
African Countries ◽  
Economic Diversification ◽  
Windfall Gain ◽  
New Concepts ◽  
History Of ◽  
Set Up

<p>In the history of modern trade theory, the capitalized countries set up ridiculous pretensions as specialization for being an industrialized country. Thus, well-know words according to their idea is “Africa has a strong comparative advantage in natural resources, so, they should specialize on them.” But today, new theories on over-specialization are to keep away commodity dependent countries from specialization. As mentioned above, there are many new concepts which are not available for Africa continent. In this article, new concepts such as Natural Curse Arguments (paradox of plenty), Dutch Disease, Immiserising Growth, windfall gain argument and over-specialization were discussed.</p>

scholarly journals Economic Diversification in Bahrain

2018 ◽  
Vol 5 (5) ◽  
pp. 67
Author(s):  
Ashraf Nakibullah
Keyword(s):  
Positive Impact ◽  
Structural Var ◽  
Annual Growth Rate ◽  
Economic Diversification ◽  
Real Gdp ◽  
Gcc Countries ◽  
Oil Resources ◽  
Inherent Problem ◽  
Oil Sector ◽  
In The Beginning

Countries, such as the GCC countries, that predominantly rely for their income on oil resources face the reality that these sources of their income would not last forever. Thus, being a member of the GCC countries, Bahrain has been pursuing the policies of sustainable and diversified economic growth. This paper uses the share of nonoil real GDP to total real GDP as a measure of diversification to access the extent of diversification in Bahrain. The shares of nonoil GDP increased from 64% in the beginning of this of this century to 80% in 2016 with an average annual growth rate of 6.2% for the period 2002-2016. This success story seems to have an inherent problem. A bivariate structural VAR model  with nonoil real GDP and oil price shows that oil prices (indirectly oil sector) have positive impact on the movements of the nonoil real GDP. This means nonoil sector has been very much dependent on the oil sector and neutralizing the dependence is required for the post oil era. 

scholarly journals Condição e desafios da economia russa atual: uma avaliação da Era Putin e a situação pós-2014

2020 ◽  
Vol 9 (1) ◽  
pp. 202-2015
Author(s):  
Valdir Silva Bezerra
Keyword(s):  
Natural Resources ◽  
Oil And Gas ◽  
International Market ◽  
Russian Government ◽  
Economic Diversification ◽  
Russian Economy ◽  
Subsequent Decrease ◽  
Descriptive Approach

O presente artigo se propõe a discutir a condição e desafios atuais da economia russa, sobretudo a partir de 2014 após a imposição de sanções Ocidentais ao país e com a subsequente diminuição no preço das commodities no mercado internacional, com vistas a analisar quais sejam os caminhos sendo tomados pela russa rumo a uma maior diversificação econômica. Por meio de uma abordagem descritiva dos principais eventos a caracterizar a economia Rússia durante a era Putin pré e pós-crise de 2014, observa-se que, apesar de gradual, o país parece estar caminhando para uma menor dependência quanto à exportação de petróleo e gás para o mercado internacional.     Abstract: This article aims to discuss the current condition and challenges of the Russian economy, especially from 2014 onwards after the imposition of Western sanctions on the country and with the subsequent decrease in the price of commodities on the international market, with a view to analyzing the paths that have been taken by the Russian government towards an economic diversification. Through a descriptive approach regarding the main events that characterize the Russian economy during the Putin era, we observe that, although gradual, the country seems to be moving towards less dependence on oil and gas exports to the international market. Keywords: Russian Economy, Putin’s Government, Natural Resources.     Recebido em: agosto/2019 Aprovado em: abril/2020  

scholarly journals Natural Resources and Socio-Economic Progress

2014 ◽  
pp. 168-186
Author(s):  
L. M. Kapitsa
Keyword(s):  
Natural Resources ◽  
Resource Curse ◽  
Dutch Disease ◽  
Economic Diversification ◽  
New Approaches ◽  
Economic Progress ◽  
Rich Countries ◽  
Disease Specific

The article reviews international debates on development problems of the resource-based economies. It draws atten tion to causes and mechanisms of the so-called "resource curse" and symptoms of systemic breakdowns and stagnant phenomena in resource-based economies named "Dutch disease". Specific attention is given to the role of national elites and institutions in the emergence of "Dutch disease", preservation of economic backwardness and/or de-industrialization of resource-rich countries. The author also considers new approaches to resolving the problem of'resource-curse", in particular, return to traditional instruments of economic diversification as industrialization and protectionism.

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