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The Omani and Bahraini Paths to Development: Rare and Contrasting Oil-based Economic Success Stories

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Author Info
Looney, Robert
Abstract

Oman and Bahrain are Middle Eastern success stories. There are some key similarities. Both have followed pragmatic development strategies built on a stable foundation of strengthened governance structures and enhanced economic liberalization. These improvements occurred in somewhat different settings, with Oman developing in a more authoritarian environment, whereas Bahrain enjoyed greater democracy but somewhat less stability. While both countries have relied on oil revenues to support their development efforts, it appears that, in contrast to their less successful oil producing neighbours, each country had just enough oil to do some good, but not enough to do serious damage.

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Paper provided by World Institute for Development Economic Research (UNU-WIDER) in its series Working Papers with number UNU-WIDER Research Paper RP2009/38.

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Handle: RePEc:unu:wpaper:rp2009-38

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Keywords: Oman; Bahrain; Middle East; GCC; economic development; economic growth; development Creation-Date: 2009;

References listed on IDEAS
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  1. Jeffrey D. Sachs & Andrew Warner, 1995. "Economic Reform and the Process of Global Integration," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(1995-1), pages 1-118. [Downloadable!]
  2. Knack, Steve, 1996. " Institutions and the Convergence Hypothesis: The Cross-National Evidence," Public Choice, Springer, vol. 87(3-4), pages 207-28, June.
  3. Ahsan S. Mansur & Volker Treichel, 1999. "Oman Beyond the Oil Horizon: Policies Toward Sustainable Growth," IMF Occasional Papers 185, International Monetary Fund.
  4. Scully, Gerald W, 1988. "The Institutional Framework and Economic Development," Journal of Political Economy, University of Chicago Press, vol. 96(3), pages 652-62, June. [Downloadable!] (restricted)
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This page was last updated on 2009-12-3.


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