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Brunei's Quest for Sustainable Development: Diversification and Other Strategies

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  • Tisdell, Clement A.

Abstract

Like many Middle East economies, Brunei is an oil‐rich rentier economy with a high degree of dependence on guest workers, concentration of employment of Bruneians in the public sector and with a high degree of specialization in extractive production. Because its hydrocarbon reserves are diminishing, it faces the problem of how to sustain its income. The potential for it to do this by investing its rental income abroad and by diversifying its economy are discussed, and comparisons are made with oil‐rich Middle East countries and MIRAB economies. Doubts are raised about industrial diversification as a suitable sustainable development strategy for Brunei. Expansion of service industries may offer better prospects. Brunei's entry into APEC could limit its scope for adopting strategic policies to restructure its economy.
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Suggested Citation

  • Tisdell, Clement A., 1997. "Brunei's Quest for Sustainable Development: Diversification and Other Strategies," Economics, Ecology and Environment Working Papers 53638, University of Queensland, School of Economics.
    • Handle: RePEc:ags:uqseee:53638
    DOI: 10.22004/ag.econ.53638
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    Cited by:

    1. Shamim Ahmad Siddiqui, 2012. "Development and Growth through Economic Diversification: Are there Solutions for Continued Challenges Faced by Brunei Darussalam?," Journal of Economics and Behavioral Studies, AMH International, vol. 4(7), pages 397-413.
    2. Tisdell, Clement A. & Bandara, Ranjith, 2004. "Tourism as a contributor to development in Sri Lanka: An overview and a case study," Economics, Ecology and Environment Working Papers 48975, University of Queensland, School of Economics.
    3. Tisdell, Clement A., 2003. "Notes on Market Failure and the Paretian (Kaldor-Hicks) Relevance and Irrelevance of Unfavourable Externalities," Economics, Ecology and Environment Working Papers 48970, University of Queensland, School of Economics.

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    Keywords

    Environmental Economics and Policy;

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