The Economy of Dubai

Edited by Abdulrazak Al Faris and Raimundo Soto

in OUP Catalogue from Oxford University Press

Abstract: Over the last 50 years, Dubai has transformed itself from a small fishing and trading village into an integrated, modern, and vibrant economy. The development process was initiated by oil richness but, unlike most other oil exporters, it has successfully diversified away from hydrocarbons with the creation of world-class clusters of financial services, tourism, and trading activities. Understandably, Dubai has become a model of economic development not only for the other six emirates that comprise the UAE, but also for most regional economies. Indeed, its success in diversifying its economic base makes Dubai an interesting case study for any resource-dependent economy wishing to achieve sustainable prosperity by engaging in better-balanced growth paths than those typically induced by the exploitation of natural resources. This book provides a comprehensive economic and historical account of the evolution of the economy of Dubai since the foundation of the United Arab Emirates in 1971. It focuses on its transformations and experiences and the roles played by government policies and private sector initiatives. Based on solid analysis, it provides a perspective and policy recommendations on the way forward in an intensely increasing competitive global economy. Contributors to this volume - Hessa Al Ameemi Abdelrazzak Al Faris, Dubai Economic Council Mahmoud Al Iriani, Dubai Economic Council Eshrak al Maamari, Dubai Economic Council Ali Tawfik Al Sadik, Dubai Economic Council Ibrahim Elbadawi, Dubai Economic Council Dhuha Fadhel, Dubai Economic Council Michael Klein, Johns Hopkins University Boaz Nandwa, International Monetary Fund Yusuf Rashid Raimundo Soto, Universidad Catolica de Chile Mohamed Trabelsi, Dubai Economic Council

Date: 2016
ISBN: 9780198758389
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