IDEAS home Printed from https://ideas.repec.org/a/rfa/bmsjnl/v3y2017i3p69-81.html

Innovation and Entrepreneurship for the Diversification and Growth of the Gulf Cooperation Council Economies

Author

Listed:
  • Hela Miniaoui
  • Daniele Schiliro

Abstract

The Arab States of the Gulf region have vast reserves of petroleum. The reduction in oil prices since the summer of 2014, and their volatility pose strong challenges to the six economies of the Gulf Cooperation Council (GCC). In the present contribution, we argue that, in the long-run, diversified economies perform better than mono-sector economies. Also, innovation and entrepreneurship are key drivers for the diversification and growth of GCC economies. More specifically, in this article we analyze the innovation performance of the GCC economies and we consider their innovation strategies. In addition, we provide an overview of entrepreneurship in the GCC countries to grasp its current state, aiming at identifying the conditions to foster entrepreneurship in order to develop the non-oil private sector. Finally, we discuss the policies that would be required to boost innovation and stimulate entrepreneurship in the Arab States of the Gulf with the aim of diversifying their economies and enhancing their growth.

Suggested Citation

  • 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.
    • Handle: RePEc:rfa:bmsjnl:v:3:y:2017:i:3:p:69-81
    as

    Download full text from publisher

    File URL: http://redfame.com/journal/index.php/bms/article/view/2594/2773
    Download Restriction: no
    File URL: http://redfame.com/journal/index.php/bms/article/view/2594
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Etzkowitz, Henry & Leydesdorff, Loet, 2000. "The dynamics of innovation: from National Systems and "Mode 2" to a Triple Helix of university-industry-government relations," Research Policy, Elsevier, vol. 29(2), pages 109-123, February.
    2. Daniele Schiliro, 2015. "Innovation in Small and Medium Enterprises in the United Arab Emirates," International Journal of Social Science Studies, Redfame publishing, vol. 3(5), pages 148-160, September.
    3. Hamdi, Helmi & Hakimi, Abdelaziz, 2015. "Did banks and financial markets developments lead to economic growth in MENA region? Evidence from Dynamic panel data estimation," MPRA Paper 64310, University Library of Munich, Germany.
    4. Carlo Altomonte & Tommaso Aquilante & Gábor Békés & Gianmarco I.P. Ottaviano, 2013. "Internationalization and innovation of firms: evidence and policy [Managing knowledge within and outside the multinational corporation]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 28(76), pages 663-700.
    5. William J. Baumol, 2005. "Education for Innovation: Entrepreneurial Breakthroughs Versus Corporate Incremental Improvements," NBER Chapters, in: Innovation Policy and the Economy, Volume 5, pages 33-56, National Bureau of Economic Research, Inc.
    6. Mr. Tim Callen & Reda Cherif & Fuad Hasanov & Mr. Amgad Hegazy & Padamja Khandelwal, 2014. "Economic Diversification in the GCC: Past, Present, and Future," IMF Staff Discussion Notes 2014/012, International Monetary Fund.
    7. David Minguillo & Robert Tijssen & Mike Thelwall, 2015. "Do science parks promote research and technology? A scientometric analysis of the UK," Scientometrics, Springer;Akadémiai Kiadó, vol. 102(1), pages 701-725, January.
    8. Schilirò, Daniele, 2013. "Diversification and development of the UAE’s economy," MPRA Paper 47089, University Library of Munich, Germany.
    9. Furman, Jeffrey L. & Porter, Michael E. & Stern, Scott, 2002. "The determinants of national innovative capacity," Research Policy, Elsevier, vol. 31(6), pages 899-933, August.
    10. Daron Acemoglu & Simon Johnson & James A. Robinson, 2001. "The Colonial Origins of Comparative Development: An Empirical Investigation," American Economic Review, American Economic Association, vol. 91(5), pages 1369-1401, December.
    11. Frenkel, Michael & Funke, Katja & Stadtmann, Georg, 2004. "A panel analysis of bilateral FDI flows to emerging economies," Economic Systems, Elsevier, vol. 28(3), pages 281-300, September.
    12. Zoltan Acs, 2008. "How is Entrepreneurship Good for Economic Growth?," Chapters, in: Entrepreneurship, Growth and Public Policy, chapter 21, pages 291-301, Edward Elgar Publishing.
    13. Tim Callen & Reda Cherif & Fuad Hasanov & Amgad Hegazy & Padamja Khandelwal, 2014. "Economic Diversification in the GCC; Past, Present, and Future," IMF Staff Discussion Notes 14/12, International Monetary Fund.
    14. Samuel S. Kortum, 1997. "Research, Patenting, and Technological Change," Econometrica, Econometric Society, vol. 65(6), pages 1389-1420, November.
    15. Heiko Hesse, 2008. "Export Diversification and Economic Growth," World Bank Publications - Books, The World Bank Group, number 28040, April.
    16. Fagerberg, Jan & Srholec, Martin & Verspagen, Bart, 2010. "Innovation and Economic Development," Handbook of the Economics of Innovation, in: Bronwyn H. Hall & Nathan Rosenberg (ed.), Handbook of the Economics of Innovation, edition 1, volume 2, chapter 0, pages 833-872, Elsevier.
    17. Eaton, Jonathan & Kortum, Samuel, 1999. "International Technology Diffusion: Theory and Measurement," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 40(3), pages 537-570, August.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Bhairab Talukdar & Jitu Saikia, 2025. "How sustainability is driven in entrepreneurship? Evidence from apiculture practices," Future Business Journal, Springer, vol. 11(1), pages 1-19, December.
    2. Muneera Al-Qahtani & Mariem Fekih Zguir & Luluwah Al-Fagih & Muammer Koç, 2022. "Women Entrepreneurship for Sustainability: Investigations on Status, Challenges, Drivers, and Potentials in Qatar," Sustainability, MDPI, vol. 14(7), pages 1-27, March.
    3. Esmat Zaidan & Rula Momani & Mohammad Al-Saidi, 2024. "Entrepreneurial universities and integrated sustainability for the knowledge-based economy: self-perception and some structural challenges in the Gulf region," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 11(1), pages 1-14, December.
    4. Evren Tok, 2020. "The Incentives and Efforts for Innovation and Entrepreneurship in a Resource-Based Economy: A Survey on Perspective of Qatari Residents," Sustainability, MDPI, vol. 12(2), pages 1-20, January.
    5. Schilirò, Daniele, 2022. "Botswana's economy and the question of diversification," MPRA Paper 115608, University Library of Munich, Germany.
    6. 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.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Miniaoui, Hela & Schilirò, Daniele, 2016. "Innovation and Entrepreneurship for the growth and diversification of the GCC Economies," MPRA Paper 71898, University Library of Munich, Germany.
    2. Burhan, Muqbil & Singh, Anil K. & Jain, Sudhir K., 2017. "Patents as proxy for measuring innovations: A case of changing patent filing behavior in Indian public funded research organizations," Technological Forecasting and Social Change, Elsevier, vol. 123(C), pages 181-190.
    3. Jones, C.I., 2016. "The Facts of Economic Growth," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 3-69, Elsevier.
    4. Alissa I. Brühne & Martin Jacob & Harm H. Schütt, 2025. "Technological Changes and Countries’ Tax Policy Design: Evidence from Anti–Tax Avoidance Rules," Management Science, INFORMS, vol. 71(3), pages 2192-2215, March.
    5. Nguyen, Quoc Phu & Vo, Duc Hong, 2022. "Artificial intelligence and unemployment:An international evidence," Structural Change and Economic Dynamics, Elsevier, vol. 63(C), pages 40-55.
    6. Mermoz Homère lll Nsoga Nsoga, 2024. "Assessing the role of the structure of human capital on the export diversification in 39 oil-producing countries," Economics Bulletin, AccessEcon, vol. 44(3), pages 1153-1168.
    7. Hu, Mei-Chih & Mathews, John A., 2005. "National innovative capacity in East Asia," Research Policy, Elsevier, vol. 34(9), pages 1322-1349, November.
    8. Fagerberg, Jan & Srholec, Martin & Verspagen, Bart, 2010. "Innovation and Economic Development," Handbook of the Economics of Innovation, in: Bronwyn H. Hall & Nathan Rosenberg (ed.), Handbook of the Economics of Innovation, edition 1, volume 2, chapter 0, pages 833-872, Elsevier.
    9. Evren Tok, 2020. "The Incentives and Efforts for Innovation and Entrepreneurship in a Resource-Based Economy: A Survey on Perspective of Qatari Residents," Sustainability, MDPI, vol. 12(2), pages 1-20, January.
    10. André Stel & Serhiy Lyalkov & Ana Millán & José María Millán, 2019. "The moderating role of IPR on the relationship between country-level R&D and individual-level entrepreneurial performance," The Journal of Technology Transfer, Springer, vol. 44(5), pages 1427-1450, October.
    11. Gil Avnimelech & Yaron Zelekha, 2026. "Corruption, democracy, and entrepreneurship: the role of technology," Small Business Economics, Springer, vol. 66(1), pages 97-125, January.
    12. Furman, Jeffrey L. & Hayes, Richard, 2004. "Catching up or standing still?: National innovative productivity among 'follower' countries, 1978-1999," Research Policy, Elsevier, vol. 33(9), pages 1329-1354, November.
    13. Ashraf Nakibullah, 2018. "Economic Diversification in Bahrain," Applied Economics and Finance, Redfame publishing, vol. 5(5), pages 67-74, September.
    14. T. Gries & R. Grundmann & I. Palnau & M. Redlin, 2017. "Innovations, growth and participation in advanced economies - a review of major concepts and findings," International Economics and Economic Policy, Springer, vol. 14(2), pages 293-351, April.
    15. Alex Coad & Clemens Domnick & Pietro Santoleri & Stjepan Srhoj, 2026. "Critical perspectives on entrepreneurial ecosystems," The Journal of Technology Transfer, Springer, vol. 51(1), pages 1-10, February.
    16. Omgba, Luc Désiré, 2014. "Institutional foundations of export diversification patterns in oil-producing countries," Journal of Comparative Economics, Elsevier, vol. 42(4), pages 1052-1064.
    17. Schilirò, Daniele, 2022. "Botswana's economy and the question of diversification," MPRA Paper 115608, University Library of Munich, Germany.
    18. Clement Bonnet & Samuel Carcanague & Emmanuel Hache & Gondia Seck & Marine Simoën, 2019. "Vers une Géopolitique de l'énergie plus complexe ? Une analyse prospective tridimensionnelle de la transition énergétique," Working Papers hal-02971706, HAL.
    19. Capolupo, Rosa, 2009. "The New Growth Theories and Their Empirics after Twenty Years," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy, vol. 3, pages 1-72.
    20. Aldieri, Luigi & Vinci, Concetto Paolo, 2015. "R&D Migration: a cross-national analysis," MPRA Paper 62541, University Library of Munich, Germany.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rfa:bmsjnl:v:3:y:2017:i:3:p:69-81. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Redfame publishing (email available below). General contact details of provider: https://edirc.repec.org/data/cepflch.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.