The economic program focuses on the economies of Bahrain and the Arabian Gulf region, covering the macro-economy, economic development, energy and labour markets.
Public sectors are important employers in all economies, typically accounting for about 20 per cent of total jobs. Compensation in government organisations is structured quite differently to what is found in the private sector: it is usually higher, when one takes into account the education and experience of workers; pay scales are very rigid; and, there is almost a complete absence of performance-related pay.
Compensation in government organisations is structured quite differently to what is found in the private sector: it is usually higher, when one takes into account the education and experience of workers; pay scales are very rigid; and, there is almost a complete absence of performance-related pay.
In the wake of falling oil prices and regional instability, the Gulf Cooperation Council (GCC) countries are looking for new economic opportunities. Generally speaking, experts encourage economic integration, because specialization in production, and operating in larger markets, constitute two of the most important sources of prosperity.
In the wake of falling oil prices and regional instability, the Gulf Cooperation Council (GCC) countries are looking for new economic opportunities. Generally speaking, experts encourage economic integration, because specialization in production, and operating in larger markets, constitute two of the most important sources of prosperity.
The UAE offers economic opportunities to the rich and poor. For those with modest means, trying to move up the ladder often requires incurring substantial debt at the outset. That is why, according to one recent estimate, the average UAE resident owes creditors Dh41,000.
The UAE offers economic opportunities to the rich and poor. For those with modest means, trying to move up the ladder often requires incurring substantial debt at the outset. That is why, according to one recent estimate, the average UAE resident owes creditors Dh41,000.
A concise monthly publication that covers the headline Bahraini economic indicators, and the most important Bahraini business, financial, and economics news.
Government regulations vary greatly in their effectiveness. In cases of ones that fail, a common theme is basing regulations on what turn out to be inaccurate models of how people respond to incentives. How can we avoid such errors when thinking about raising the minimum wage?
Government regulations vary greatly in their effectiveness. In cases of ones that fail, a common theme is basing regulations on what turn out to be inaccurate models of how people respond to incentives. How can we avoid such errors when thinking about raising the minimum wage?
The government wisely worked with a team of experts to evaluate the results. Five years on, an interesting analogy with traditional labour union activity has emerged, in which the interests of “insiders” (migrant workers already in the UAE) clash with those of...
The economic integration of its members was one of the most important goals for the establishment of the Gulf Cooperation Council (GCC).
In July 2016, the World Bank appointed American Paul Romer as the Bank’s chief economist. This was quite a radical decision; the World Bank usually prefers conservative figures for its top positions, whereas Romer is a commercial and intellectual entrepreneur, who left the academy, first to establish Aplia, which heralded a transformation in the higher education sector, and subsequently to launch the “charter cities” development project.
The economies of the Gulf Corporation Council (GCC) countries are highly dependent on the energy sector, where the hydrocarbon sector constitutes around 40% of their GDP. Moreover, revenues from the oil and gas sector accounts for about 80% of the governments’ budgets.
From the days of antiquity, through to the middle of the twentieth century, economics was largely a deductive and narrative discipline. The leading contributions were dense treatises hundreds of pages in length, with scarcely a number or equation in sight.
In most GCC countries, for some time, over 50% of employed nationals have been working in the public sector—a very large percentage by international standards, as in advanced economies, public sectors usually account for around 20% of total employment.
This trend, combined with a growing youth population, poses a challenge to the GCC’s capacity to create sufficient job opportunities – a novel problem for wealthy economies.
In response to two recent Abu Dhabi mergers – National Bank of Abu Dhabi with FGB (a combined market value of US$30 billion) and the International Petroleum Investment Company with Mubadala Development Company (with combined assets of $127bn) – one may wonder: why, and why now?
The period following WW2 witnessed the emergence of a military conflict between American and the Soviet union. The capitalist and socialist-communist economic models also crossed swords as a subplot of this global conflict, and the...
Markets are complex, and consumers often struggle to understand pricing decisions, resorting to conspiracy theories. For example, in countries with floating petrol prices – the UAE is a new member of this club after subsidy reforms – consumers are convinced that...
This is the Thatcher revolution for Saudi Arabia?,” is the question that The Economist recently posed to Deputy Crown Prince Muhammad Bin Salman, regarding his comprehensive economic reform plan...
