Innovation and Entrepreneurship for the Diversification and Growth of the Gulf Cooperation Council Economies

Hela Miniaoui and Daniele Schiliro'

Business and Management Studies, 2017, vol. 3, issue 3, 69-81

Abstract: The Arab States of the Gulf region have vast reserves of petroleum. The reduction in oil prices since the summer of 2014, and their volatility pose strong challenges to the six economies of the Gulf Cooperation Council (GCC). In the present contribution, we argue that, in the long-run, diversified economies perform better than mono-sector economies. Also, innovation and entrepreneurship are key drivers for the diversification and growth of GCC economies. More specifically, in this article we analyze the innovation performance of the GCC economies and we consider their innovation strategies. In addition, we provide an overview of entrepreneurship in the GCC countries to grasp its current state, aiming at identifying the conditions to foster entrepreneurship in order to develop the non-oil private sector. Finally, we discuss the policies that would be required to boost innovation and stimulate entrepreneurship in the Arab States of the Gulf with the aim of diversifying their economies and enhancing their growth.

Keywords: innovation; entrepreneurship; diversification; growth; GCC countries (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://redfame.com/journal/index.php/bms/article/view/2594/2773 (application/pdf)
http://redfame.com/journal/index.php/bms/article/view/2594 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:rfa:bmsjnl:v:3:y:2017:i:3:p:69-81

Access Statistics for this article

More articles in Business and Management Studies from Redfame publishing Contact information at EDIRC.
Bibliographic data for series maintained by Redfame publishing ().