Show us the money: Oil revenues, undisclosed allocations and accountability in budgets of the GCC States

Omar AlShehabi

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: This paper traces the historical evolution of the transparency, independence and accountability of public revenues and expenditures in each of the GCC countries. Beginning with the discovery of oil in 1932, specific focus is placed on that part of oil revenues that are treated as undisclosed allocations, including military expenditures, overseas transfers and royal allowances. It argues that with the exception of Kuwait, there is strong evidence to suggest that significant amount of oil revenues are undeclared, which go either into private hands or into undisclosed government transactions.

JEL-codes: J01 N0 R14 (search for similar items in EconPapers)
Pages: 32 pages
Date: 2017-09-01
New Economics Papers: this item is included in nep-ara, nep-ene and nep-his
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:84521

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