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The GCC economies and the crash: short-term weaknesses, long-term strengths

Hertog, Steffen (2009) The GCC economies and the crash: short-term weaknesses, long-term strengths. Perspectives, 002. Middle East Institute, National University of Singapore. ISBN 9789810829148

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Abstract

After an initial phase in which analysts expected the Gulf Cooperation Council’s (GCC) fiscal cushions to ward off the global economic crisis, the world recession has started to reverberate in the Gulf. 1 The Gulf monarchies are in some ways better, but in other ways worse, equipped to ride out the storm. As many strategic assets remain in state hands, Gulf countries do not have to go through a painful period of nationalisation, but can react in a more immediate and nationally-coordinated fashion to market failures. The crisis has nonetheless highlighted key institutional weaknesses of the GCC countries.

Item Type: Monograph (Working Paper)
Official URL: http://docs.google.com/fileview?id=0B35LxaKpjlgIMm...
Additional Information: © 2009 Middle East Institute, Singapore
Library of Congress subject classification: H Social Sciences > HC Economic History and Conditions
J Political Science > JQ Political institutions Asia
Journal of Economic Literature Classification System: E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles
E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit
Sets: Departments > Government
Collections > Economists Online
Research centres and groups > Middle East Centre
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Identification Number: 002
Date Deposited: 05 Nov 2010 17:01
URL: http://eprints.lse.ac.uk/29878/

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