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With the steady increase of crude oil production and the surge in oil prices in the mid- and late 1970s, Oman embarked upon an economic development path that transformed it into a prosperous country. Today Oman boasts impressive physical infrastructure, much improved socioeconomic conditions, and a high standard of living. The purpose of this background study is to contribute to a better understanding of developments in the Omani economy since 1980 and of the policy challenges the government faces in the medium term. The study focuses on some central aspects of Oman's economic experience, including the potential structural impediments to growth.

Diversification in industry --- Petroleum industry and trade --- Sustainable development --- 330.05 --- 338.95353 --- 338.22 <535> --- 338.22 <535> Economische organisatieleer. Economisch beleid. Economische politiek--Oman. Sultanaat van Maskat en Oman-Gwada --- Economische organisatieleer. Economisch beleid. Economische politiek--Oman. Sultanaat van Maskat en Oman-Gwada --- Development, Sustainable --- Ecologically sustainable development --- Economic development, Sustainable --- Economic sustainability --- ESD (Ecologically sustainable development) --- Smart growth --- Sustainable economic development --- Economic development --- Energy industries --- Oil industries --- Industrial diversification --- Product diversification --- Input-output analysis --- Barriers to entry (Industrial organization) --- Multiproduct firms --- Environmental aspects --- Industrial policy --- Oman --- Economic policy. --- Industrial economics --- Sultanate of Oman --- ʻUmān (Sultanate) --- Salṭanat ʻUmān --- Muscat --- Mascate --- عمان --- سلطنة عُمان --- オマーン --- オーマン --- Muscat and Oman --- Banks and Banking --- Exports and Imports --- Investments: General --- Macroeconomics --- Public Finance --- Fiscal Policy --- National Government Expenditures and Related Policies: General --- Trade: General --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- General Financial Markets: General (includes Measurement and Data) --- Public finance & taxation --- International economics --- Banking --- Investment & securities --- Fiscal policy --- Expenditure --- Fiscal stance --- Treasury bills and bonds --- Oil prices --- Financial institutions --- Commercial banks --- Expenditures, Public --- Banks and banking --- Government securities --- Saving and investment