Kuwait and World Oil Developments

M. W. Khouja and P. G. Sadler

Chapter 6 in The Economy of Kuwait, 1979, pp 65-85 from Palgrave Macmillan

Abstract: Abstract The last three chapters have described the development of Kuwait since 1946 to the present day and traced its emergence as a modern economy by reference to a number of social indicators and the changes which they presented. Almost exclusively these are directly related to the changing role played by the country’s main natural resource, oil. Only when we can understand the intricacy of the rapid evolution of the power of oil on the world stage at the precise time when the control of that power was moving out of the hands of the user countries and into the hands of the producer countries can we understand the significance of many of the changes which have taken place in Kuwait as well as in many other Arab states whose main natural resource is oil.

Keywords: Saudi Arabia; Import Price; Home Market; Producer Country; Major Company (search for similar items in EconPapers)
Date: 1979
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-03500-7_6

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DOI: 10.1007/978-1-349-03500-7_6

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