Are Rentier Monarchies a Viable Road to Development in the Gulf States

Essay from the year 2004 in the subject Politics - Region: Near East, Near Orient, grade: 16.5, University of St Andrews, language: English, abstract: What must go wrong before economists label a scarce and strategically valuable commodity like oil a “curse”? Fundamental economics suggests that they are almost as good as cash. Abundant natural resources can help a country prosper through earnings ...