European Parliament Library

Soaring of the Gulf Falcons :, Diversification in the GCC Oil Exporters in Seven Propositions, Reda Cherif, Fuad Hasanov

A key priority for the Gulf Cooperation Council (GCC) countries is to create a dynamic non-oil tradable sector to support sustainable growth. Since export diversification takes a long time, it has to start now. We argue that the failure to diversify away from oil stems mainly from market failures rather than government failures. To tackle market failures, the government needs to change the incentive structure for workers and firms. Experiences of oil exporters that managed to diversify suggest that a focus on competing in international markets and an emphasis on technological upgrade and climbing the “quality ladder” are crucial
Table Of Contents
Cover; CONTENTS; I. Introduction; II. Seven Propositions; FIGURES; 1. Average Oil Exports (Percent of Total Exports); 2. MENA Breakeven Oil Prices (), 2013; 3. Composition of Real GDP by Sector, 2012 (2005 constant ); 4. Goods Export Composition, 2010; 5. Labor Market Composition, 2012; 6. Social Indicators; 7. GDP per Worker (PPP 2005 Constant ), 1970-2010; 8. GDP per Worker Relative to the US (PPP 2005 Constant ), 1980 vs. 2010; 9. GDP per Worker Relative to the US (PPP 2005 Constant ), 1970-2010; 10. Total Factor Productivity Growth vs. Initial Real GDP per Worker, 1980-2010
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (56 p.)
Specific Material Designation
Form Of Item

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