Graduation Year
2016
Date of Submission
4-2016
Document Type
Open Access Senior Thesis
Degree Name
Bachelor of Arts
Department
International Relations
Second Department
Economics
Reader 1
William Ascher
Terms of Use & License Information
Rights Information
© 2016 Caroline J Belmont
Abstract
Despite their natural resources, the countries of the Gulf Cooperation Council (Kuwait, the United Arab Emirates, Saudi Arabia, Bahrain, Qatar, and Oman) have failed to live up to their economic potential, primarily due to their dependence on a revenue source with volatile prices and political significance in an unstable region. This thesis argues that the best way to convert oil wealth into consistent long term growth is through diversification, both by investing in foreign assets and by growing domestic sectors that are independent from oil and gas prices. The research further investigates the primary tool these countries have used to do so – sovereign wealth funds – and how their implementation and structures have impacted their effectiveness in achieving economic diversification and growth.
Recommended Citation
Belmont, Caroline J., "A Critical Examination of Oil Wealth Management Strategies and Their Effects on Economic Growth in the Gulf Cooperation Council Countries" (2016). CMC Senior Theses. 1331.
https://scholarship.claremont.edu/cmc_theses/1331
Included in
Finance Commons, Growth and Development Commons, International Economics Commons, International Relations Commons, Macroeconomics Commons, Near and Middle Eastern Studies Commons, Political Economy Commons
