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An Extension to Late Rentierism, using a Comparative Compound Diversification Index, to Show the Movement Towards Mixed Mode Economic Diversification and Development, in the GCC States

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  • John W Lang
  • N. Aldori

Abstract

This study draws together several strands of research, including late rentierism, economic diversification in the GCC states of the UAE, Qatar, Kuwait, Oman, Kingdom of Saudi Arabia, and Bahrain, in an attempt to measure the direction of the trend towards a mixed mode economy. A comparative compound diversification index (CCDI) is developed to measure the movement along the late rentier continuum of development. The research is based on data from various Global Innovation Index (GII) reports and databases, which provide the attributes used to measure the overall trends. It creates a foundation for the ongoing measurement of this trend over the coming decade, and provides a correlation with the oil price fluctuations, thereby measuring how much the GCC states dependence may be changing, however incrementally, and however marginally that may be. The study does confirm a move towards a mixed mode economy, with knowledge-based, technology and innovation led activities at the heart of that incremental and marginal change.

Suggested Citation

  • John W Lang & N. Aldori, 2020. "An Extension to Late Rentierism, using a Comparative Compound Diversification Index, to Show the Movement Towards Mixed Mode Economic Diversification and Development, in the GCC States," Business and Management Studies, Redfame publishing, vol. 6(1), pages 4057-4057, December.
    • Handle: RePEc:rfa:bmsjnl:v:6:y:2020:i:1:p:40-57
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    References listed on IDEAS

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    2. World Bank, 2019. "Doing Business 2019," World Bank Publications - Books, The World Bank Group, number 30438, December.
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    4. Sacha Wunsch-Vincent & Bruno Lanvin & Soumitra Dutta, 2015. "The Global Innovation Index 2015: Effective Innovation Policies for Development," Working Papers id:7491, eSocialSciences.
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    6. Hvidt, Martin, 2013. "Economic diversification in GCC countries: past record and future trends," LSE Research Online Documents on Economics 55252, London School of Economics and Political Science, LSE Library.
    7. World Bank Group, 2016. "Doing Business 2017," World Bank Publications - Books, The World Bank Group, number 25191, December.
    8. Hela Miniaoui & Daniele Schiliro, 2017. "Innovation and Entrepreneurship for the Diversification and Growth of the Gulf Cooperation Council Economies," Business and Management Studies, Redfame publishing, vol. 3(3), pages 69-81, September.
    9. World Bank Group, 2014. "Doing Business 2015 : Going Beyond Efficiency," World Bank Publications - Books, The World Bank Group, number 20483, December.
    10. Assil EL. Mahmah & Magda Elsayed Kandil, 2019. "The balance between fiscal consolidation and non-oil growth: The case of the UAE," Borsa Istanbul Review, Research and Business Development Department, Borsa Istanbul, vol. 19(1), pages 77-93, March.
    11. Jim Krane, 2015. "Stability versus Sustainability: Energy Policy in the Gulf Monarchies," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4).
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    1. Ahmad Salman & Ali Al-Hemoud & Saja A. Fakhraldeen & Maha Al-Nashmi & Suad M. AlFadhli & Sungsoo Chun, 2020. "Research and Development as a Moderating Variable for Sustainable Economic Performance: The Asian, European, and Kuwaiti Models," Sustainability, MDPI, vol. 12(18), pages 1-17, September.

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    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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