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Institutional reforms in the Gulf Cooperation Council economies: A conceptual framework

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  • Kshetri, Nir
  • Ajami, Riad

Abstract

Institutions are slow to change in the Gulf Cooperation Council (GCC) economies. More to the point, institutions promoting free enterprise economy are lacking in the region. Concepts and theory building are lacking on the dynamics and forces related to institutional changes in GCC economies. In an attempt to fill this void, this paper proposes a framework for identifying clear contexts and attendant mechanisms associated with institutional changes in emerging economies. We then apply the framework in the context of GCC economies. The explanations offered in this paper shed light on the nature of power balance among various institutional actors associated with GCC economies and their cognitive frameworks.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of International Management.

Volume (Year): 14 (2008)
Issue (Month): 3 (September)
Pages: 300-318

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Handle: RePEc:eee:intman:v:14:y:2008:i:3:p:300-318

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Keywords: GCC Institutions Market orientation Holistic order Institutional entrepreneurship Selective adaptation;

References

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  1. Peter Boettke & Emily Chamlee-Wright & Peter Gordon & Sanford Ikeda & Peter T. Leeson & Russell Sobel, 2007. "The Political, Economic, and Social Aspects of Katrina," Southern Economic Journal, Southern Economic Association, vol. 74(2), pages 363-376, October.
  2. Rafael La Porta & Florencio Lopez-de-Silanes & Cristian Pop-Eleches & Andrei Shleifer, 2004. "Judicial Checks and Balances," Journal of Political Economy, University of Chicago Press, vol. 112(2), pages 445-470, April.
  3. North, Douglass C, 1994. "Economic Performance through Time," American Economic Review, American Economic Association, vol. 84(3), pages 359-68, June.
  4. Sunita Kikeri, 2004. "An Assessment of Privatization," World Bank Research Observer, World Bank Group, vol. 19(1), pages 87-118.
  5. Rudi K. F. Bresser & Klemens Millonig, 2003. "Institutional Capital: Competitive Advantage In Light Of The N Ew Institutionalism In Organization Theory," Schmalenbach Business Review (sbr), LMU Munich School of Management, vol. 55(3), pages 220–241, July.
  6. Nolan, Peter & Yeung, Godfrey, 2001. "Big Business with Chinese Characteristics: Two Paths to Growth of the Firm in China under Reform," Cambridge Journal of Economics, Oxford University Press, vol. 25(4), pages 443-65, July.
  7. David Daokui Li & Junxin Feng & Hongping Jiang, 2006. "Institutional Entrepreneurs," American Economic Review, American Economic Association, vol. 96(2), pages 358-362, May.
  8. Elbadawi, Ibrahim A, 2005. "Reviving Growth in the Arab World," Economic Development and Cultural Change, University of Chicago Press, vol. 53(2), pages 293-326, January.
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Cited by:
  1. Kshetri, Nir & Dholakia, Nikhilesh, 2009. "Professional and trade associations in a nascent and formative sector of a developing economy: A case study of the NASSCOM effect on the Indian offshoring industry," Journal of International Management, Elsevier, vol. 15(2), pages 225-239, June.
  2. Nir Kshetri, 2009. "Entrepreneurship in post-socialist economies: A typology and institutional contexts for market entrepreneurship," Journal of International Entrepreneurship, Springer, vol. 7(3), pages 236-259, September.

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