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Persian Gulf Region --- Foreign economic relations

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The six Arab monarchies of the Persian Gulf - Bahrain, Kuwait, Qatar, Oman, Saudi Arabia and the United Arab Emirates - have a disproportionate importance in the global economic system because of their enormous reserves of oil and gas.

Matthew Gray provides a brief yet comprehensive profile of these six Gulf states and their modern political economy. Focusing on the postwar period, particularly the last twenty years, he examines the key factors that have shaped these nations' economies and enabled them to bypass typical development pathways.

The book explores how the combination of rentierism, state ownership of key firms and assets, and the use of patron-client networks to distribute favours and opportunities, has created a very effective strategy for regime maintenance and durability. However, the book also outlines how cooptive bargains with society have given the Gulf states a unique set of economic problems, including low levels of innovation and entrepreneurship, reliance on foreign workers and an inflated public sector. With the global demand for hydrocarbons set to decline, the need for the Gulf states to diversify their economies, expand the private sector, and build a more diverse taxation base has become ever more pressing. The book explains the importance of these challenges, which, along with those of geography, regional security, rapidly growing populations, and sectarianism are likely to test the Gulf's new generation of leaders.

Persian Gulf Region --- Economic conditions. --- Economic policy. --- Politics and government. --- E-books

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In preparation for monetary union most of the Gulf Cooperation Council (GCC) countries have pegged their currencies rigidly to the US dollar. However, the relatively dramatic movements in the US dollar in the recent past, and also in the early 1990s, have called this practice into question for a group of countries that predominantly rely on hydrocarbons as their primary export. The proposed monetary union raises clear issues in terms of the appropriateness of such a regime for these countries and whether, for example, the necessary institutional mechanisms are in place ahead of the proposed un

Monetary unions --- Foreign exchange --- Finance --- Gulf Cooperation Council. --- Persian Gulf States --- Economic policy.

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Globalization --- Gulf Cooperation Council. --- Persian Gulf States --- Economic conditions --- Politics and government

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"The GCC, made up of Saudi Arabia, Bahrain, Kuwait, Oman, Qatar and the UAE, is one of the most resilient sub-regional organizations in the world, and the most successful in the one in the Arab world. It has been the forum through which much internal security co-operation in this volatile sub-region has taken place, as well as the main representative for the UAE's territorial dispute with Iran over the Aub Musa and Tunbs Islands. It also has significant potential to present an alternative form of leverage over the international oil markets. Very little is known however about how the organization really works: how decisions are actually taken, as opposed to how this process is formally constituted in its charters, and what the GCC's real impact on member states, the Gulf and international relations is. Drawing on cutting-edge IR theoretical perspectives as well as unique first-hand access to GCC decision-makers, Matteo Legrenzi explains the mechanisms of Gulf cooperation - and its limitations - in the context of economic globalisation, diplomatic regionalisation and the rise of Iran. Combining historical context, primary source investigations and theoretical analysis, it is the first comprehensive guide to the GCC and an indispensable resource for anyone concerned with the Gulf and the Middle East."--Bloomsbury Publishing.

Arab cooperation. --- Gulf Cooperation Council. --- Persian Gulf States --- Economic integration. --- Foreign relations.