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Economic Diversification in the Gulf States: Public Expenditure and Non-Oil Economic Growth in Bahrain, Oman and Qatar

Publisher: Gerlach Press
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Format: Book- Hardback
ISBN-13: 9783959940528
Author: Yesenn El-Radhi
Publication Date: 01-Jun-2018
Additional Information:
A long-standing economic policy goal of the oil-dependent GCC countries is to increase economic
diversification. Over the last decades, GCC governments fostered the development of non-oil
economies through large-scale public investments in the stocks of human and physical capital.
This book takes a new look at economic diversification efforts by examining the impact of different
public expenditure categories (capital, education, health) on non-oil GDP and labour productivity
developments in the three GCC countries Bahrain, Oman and Qatar since the 1970s. Building both on
an econometric analysis and detailed country studies, this book analyses not only whether public
expenditure has been an important driver of overall non-oil economic growth but also how public
expenditure impacted different potential sources of non-oil economic growth such as economy-wide
investment or productivity levels.
By elaborating the channels through which public expenditure tends to impact non-oil economic
growth in Bahrain, Oman and Qatar, this book contributes to the academic and public debate about the
effectiveness of ongoing diversification strategies in the GCC countries.