The Gulf Region: Economic Development and Diversification

The four volumes in this major research collection address the key economic issues which affect the future development and diversification of the member states of the Gulf Cooperation Council (GCC), namely Saudi Arabia, Kuwait, Bahrain, Qatar, UAE and Oman. > Specifically, this recent research covers: > Economic Diversification > Development of Global Partnerships > Labor Markets and Migration > Financial Markets as Global Players The work brings together state-of-the-art analysis by some 40 international scholars who participated in a major joint initiative by the EU and the GCC, the al-Jisr Gulf-Europe Research Program. This collection will prove an essential reference work for policy makers and scholars on all the critical issues facing the Gulf countries as their economies develop beyond dependence on the oil and gas sector and forge new international alliances. > Additional information on the four volumes: > The GCC in the Global Economy, edited by Richard Youngs (Director-General, FRIDE, Madrid) Changing geopolitical realities have seen the Gulf region turning to Asia and Africa to build new economic links, while strengthening old ones. This proactive internationalism is visible not just in economics and energy, but also in politics and security where a host of new agreements has been developed. This work provides an overview of the ways in which the GCC states now need to move ahead with reforms that will reflect issues such as raised expectations from a period of high revenues and the region's demographics. 200 pages > Resources Blessed: Diversification and the Gulf Development Model, edited by Giacomo Luciani (Paris School of International Affairs, Sciences-Po, and Princeton Global Scholar) > The Gulf countries have adopted a unique combination of policies to encourage diversification with largely positive results, while there are significant distinctions between the individual cases. This work evaluates various examples to show the extent to which the Gulf economies have diversifed to date, and how results can be measured, taking into consideration factors such as composition of GDP or exports; government services; and the categorization of industrial activities downstream of resources extraction (oil refining, petrochemicals) and their availability (aluminium, phosphates, iron, steel, glass and other energy- and resource-intensive industries). 320 pages. > GCC Financial Markets: The World's New Money Centers, edited by Eckart Woertz (Princeton Environmental Institute, Princeton University) > Bond markets in the GCC countries are underdeveloped, and the capital mix is heavily skewed towards banks, while ambitious development plans in fields like petrochemicals and infrastructure, as well as a rapidly growing population, create an increased need for finance. This study outlines the structure of various segments of GCC financial markets and points to regulatory challenges and future developments, ranging from capital market structures to the planned GCC Monetary Union, Islamic banking, and sovereign wealth funds. 320 pages. > National Employment, Migration and Education in the GCC, edited by Steffen Hertog (London School of Economics) This volume provides a cross-cutting analysis of the policy challenges related to GCC labor markets. It analyzes the different dimensions of segmentation of these markets, factors of change influencing labor supply such as trends in education and demography, as well as the impact of potential future reforms in areas such as immigration policy, labor sponsorship, taxation and minimum wages. The work therefore provides an overview of what arguably will be the core socio-economic challenge for the GCC in the coming years. 320 pages.

Giacomo Luciani is Professor of Economics at the University of California, Los Angeles, and author of "The Oil Companies and the Arab World: The Structure of the International Oil Industry in the 1980s"