Policies and Economic Potential in the Countries of the Gulf Cooperation Council

Hossein Askari (), Maha Bazzari and William Tyler

Chapter 12 in Economic Challenges Facing Middle Eastern and North African Countries, 1998, pp 225-255 from Palgrave Macmillan

Abstract: Abstract To ensure long-term economic security, countries whose economies are based on depletable resources must adopt policies that will enable them to maintain their standards of living after the resource is exhausted. For the countries of the Gulf Cooperation Council (GCC), development of a viable private sector to replace the public sector’s large contribution to national output from oil is essential. Future prospects for these countries will be bleak unless appropriate policies are put in place before oil resources are exhausted.

Keywords: Private Sector; Gross Domestic Product; Saudi Arabia; Saving Rate; Current Account Deficit (search for similar items in EconPapers)
Date: 1998
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DOI: 10.1007/978-1-349-26124-6_12

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