Kuwait’s Role in International Finance

M. W. Khouja and P. G. Sadler

Chapter 11 in The Economy of Kuwait, 1979, pp 190-208 from Palgrave Macmillan

Abstract: Abstract It need hardly be remarked that the recent changes in the world order have seen many emergent countries gain control of their resources and the changes in the price of oil have transferred much of its value to the producer countries which hitherto had passed to the extractive companies and their home countries. This has placed a remarkable degree of power in the hands of a new group of operators on the world’s industrial and financial markets. The changes in oil prices and in the relationships between emergent nations and the former colonial or imperial powers are essentially interdependendent, in that the ability to influence prices undoubtedly depended at least in part on the ability of producer countries to exercise their sovereignty. It is essential to recognise, however, that these are two separate but equally important elements in the development of the new structure of financial arrangements which are arising in the world. Their separateness is stressed because the transfer of ownership of financial assets should not in itself be cause for concern. International markets exist for precisely that purpose. When a substantial group of operators entering any market, however, are motivated by a different set of principles and objectives from those under which existing operators work, it is often then that concern is expressed as to the effect of the operations of the newcomers on the existing patterns of relationships and the balance of power between existing groups.

Keywords: Real Estate; Current Account; Absorptive Capacity; International Finance; Arab World (search for similar items in EconPapers)
Date: 1979
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:pal:palchp:978-1-349-03500-7_11

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349035007

DOI: 10.1007/978-1-349-03500-7_11

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().