Oil, industrialization & development in the Arab gulf states

Were oil supplies everlasting and the demand for oil strong and continuous, economic diversification in the Arab Gulf would be pointless. However oil reserves are finite and non-renewable and the world demand for oil from the Gulf region is simply not stable. Collectively the countries of the Gulf face the striking prospect that unless priorities and plans are set with care the gestation period of their economic development may be longer than the expected life of their hydrocarbon resources. Oil, Industrialization and Development in the Arab Gulf States examines just that threat. It considers the opportunities available to the Gulf states for accumulating sufficient productive capital in the non-oil sectors of their economy to offset the drawing down of oil reserves. The book pays particular attention to the possi bilities of development through co-operation not only within the Gulf Co-operation Council but also within the larger Arab region and the Third World as a whole. It concludes with a critical review of the main challenges that these economies are facing and are likely to face in the near future with special emphasis on their major problems and failures.