Oil Export Economies: New Comparative Perspectives on the Arab Gulf States [Hardcover]

Despite their commonalities, the Arab Gulf States have started economic diversification from different settings and against different political backgrounds. This book applies a multi-method approach including Qualitative Comparative Analysis (QCA) to highlight their heterogeneous economic development trajectories and to compare them to other major oil exporters. From a political economy perspective, it demonstrates how neoclassical economic theory fails to grasp the underlying mechanisms of their development. The research design of this study is tailored to small and medium-sized samples with special characteristics. As such, it offers new opportunities for comparative studies not only of this region but also of other specific samples of countries from a wider perspective of heterodox economics.The Arab Gulf States have started economic diversification from different settings and against different political backgrounds. This book applies a multi-method approach including Qualitative Comparative Analysis to highlight their heterogeneous economic development trajectories and to compare them to other major oil exporters.Foreword by Giacomo Luciani1. Introduction: The States of the Gulf Cooperation Council--The Paradox of Wealthy Less-Developed Economies 2. The States of the Gulf Cooperation Council: Historic, Economic, and Political Background 2.1 Commonalities: Islamic Oil Monarchies 2.2 The Six GCC States2.3 The Gulf Cooperation Council3. The GCC States and Economic Theory 3.1 Growth Theory and the GCC Economies3.2 Theories of Economic Development and the GCC Economies3.3 Resource Abundance, Islam, and Arabic Culture3.4 Summary: Theoretical Approaches4. Methodology 4.1 Fuzzy Set Qualitative Comparative Analysis4.2 Case, Time, and Variable Selection4.3 Operationalization of the Variables5. Empirical Analysis and Results l³-