Assessment of Technology Transfer to Gulf Cooperation Council Countries

Mohammed A. Hajeeh

International Journal of Finance, Insurance and Risk Management, 2023, vol. 13, issue 4, 152-173

Abstract: Purpose: In this research study, we seek to assess the framework of technology transfer process in Gulf Arab (GCC) countries and determine whether these countries have the necessary structure and foundation for successful technology transfer. In addition to identifying the obstacles and barriers that these countries experience in implementing TT as well as proposing ways to maximize its benefits to the community, as well as promoting them locally to help improve local and self-capacity. Design/Methodology/Approach: We will present the various methods of technology transfer to the countries of the Gulf Cooperation Council and indicate the most important considerations that must be taken into account when initiating technology transfer and developing local capabilities and the effective methods that must be followed when dealing with technology exporting companies. Findings: The GCC countries are adapting to changing global economic conditions, but are facing several challenges such as a still high dependence on energy sector related revenues in most states, and the ongoing reliance on the government sector to drive recovery in the post-pandemic era. A crucial driver of technology transfer was the GCC countries' rapid gain in income and power as a result of soaring oil prices in the 1970s, as well as their economic expansion. Practical Implications: Technology transfer plays a crucial and essential role economic and technical progress, nevertheless, it is inhibited in some countries by a lack of finances to buy contemporary technology, while it is hampered in others by a paucity of local technical people; it is also affected by social and political difficulties. Originality/Value: The article gives a thorough overview of the TT process in Gulf as well as necessary recommendations for enhancing its effectiveness and usefulness.

Keywords: Technology transfer; Gulf Cooperation Council; R&D. (search for similar items in EconPapers)
JEL-codes: O2 O3 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:ers:ijfirm:v:13:y:2023:i:4:p:152-173

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