Characteristics of the Transitional Stage

Henry T. Azzam

Chapter 1 in The Gulf Economies in Transition, 1988, pp 1-19 from Palgrave Macmillan

Abstract: Abstract It appears that the states of the Gulf Co-operation Council (GCC): Saudi Arabia, Kuwait, United Arab Emirates, Oman, Bahrain and Qatar will continue to adjust to a slower pace of growth and development in the coming few years. The slowdown in the GCC states, in contrast with that of the industrialized countries, is not foreseen as a cyclical phenomenon, rather, it is the outcome of external and structural changes that started in 1981–82. The decline in the region’s oil revenues, the lingering Iran-Iraq war and the rising toll of Al-Manakh stock market crisis in Kuwait are at the root of the present downswing in overall economic activities.

Keywords: Private Sector; Saudi Arabia; Foreign Asset; Transitional Stage; Gulf Country (search for similar items in EconPapers)
Date: 1988
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-08970-3_1

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DOI: 10.1007/978-1-349-08970-3_1

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