ABSTRACT
The substantial and progressive weakening of the international oil market since 1981 has profoundly affected the Arab Gulf states. With the decline of oil revenues due to reduced world demand and the fall in oil prices, transition in these states to less oil-oriented economies has suddenly become more immediate and more difficult than might have been expected, the pressure to speed up diversification of their economies into non-oil sectors has increased. This book examines this problem, and the many other issues connected with the impact of oil revenues on development in the Gulf states. It considers the effects of the changing oil production policies and developments in other sectors of the economy including agriculture, industry and banking. It explores population and manpower problems, moves towards Gulf economic coordination, and the impact of rapid change on Gulf society, culture and education.
