When Can Oil Economies Be Deemed Sustainable?
Contributor(s)
Luciani, Giacomo (editor)
Moerenhout, Tom (editor)
Collection
Swiss National Science Foundation (SNF)Language
EnglishAbstract
This open access book questions the stereotype depicting all Gulf (GCC) economies as not sustainable, and starts a critical discussion of what these economies and polities should do to guarantee themselves a relatively stable future. Volatile international oil markets and the acceleration of the energy transition has challenged the notion that oil revenues are sufficient to sustain oil economies in the near to medium term. But what is the meaning of economic sustainability? The book discusses the multiple dimensions of the concept: economic diversification, continuing value of resources, taxation and fiscal development, labor market sustainability, sustainable income distribution, environmental sustainability, political order (democracy or authoritarianism) and sustainability, regional integration. The overarching message in this book is that we should move on from the simplistic branding of the Gulf economies as unsustainable and tackle the details of which adaptations they might need to undertake.
Keywords
International Political Economy; Sustainable Development; Natural Resource and Energy Economics; Energy Policy, Economics and Management; Middle Eastern Politics; Middle Eastern and North African Economics; International Relations; Environmental Social Sciences; Environmental Economics; Economy-wide Country Studies; Open Access; Sustainability of GCC Development; New Global Oil Order; Economic sustainability in resource-rich states; Gulf Economic Diversification and Sustainable Development; Political Economy of Diversification; Economic Transformation vs. Diversification; Oil and Economic Diversification; Fiscal dimensions of Economic Sustainability; Labour Market dimensions of Economic Sustainability; Hydrocarbon Endowment in the Gulf Region; Normalizing the Saudi Economy; Inclusive Growth in the Gulf Region; Saudi Private Sector’s Contribution to Fiscal Sustainability; Economic Sustainability and the Energy Transition; Economic Diversification in the MENA; Peak Oil and the Energy Transition in the MENA; Economic Diversification Through Energy Sector Reform; Energy Pricing Reform in the Gulf Region; Climate Strategy for Producer Countries; Political economy; Sustainability; Environmental economics; Energy technology & engineering; Energy industries & utilities; Politics & government; Middle East; EconomicsDOI
10.1007/978-981-15-5728-6Publisher
Springer NaturePublisher website
https://www.springernature.com/gp/products/booksPublication date and place
2021Imprint
Palgrave MacmillanSeries
The Political Economy of the Middle East,Classification
Political economy
Sustainability
Environmental economics
Energy technology and engineering
Politics and government
Economics