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Is the "Dubai model" a new paradigm for growth and investment strategies for oil-based economies? Case study: Eurasia. ACES Working Papers No. 8, 2008

Rehman, Scheherazade S. and Dairabayeva, Karlygash S. (2008) Is the "Dubai model" a new paradigm for growth and investment strategies for oil-based economies? Case study: Eurasia. ACES Working Papers No. 8, 2008. [Working Paper]

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    Abstract

    The first part of the paper addresses the theoretical background of economic growth and competitive advantage models. Although there is a whole set of research on a relationship between foreign direct investments and economic growth, little has been said on foreign direct investments and national competitive advantage with respect to economic growth of oil and gas abundant countries of Middle East and Central Asia. The second part of our paper introduces the framework of the so-called "Dubai Model" in detail and outlines the key components necessary to develop sustainable comparative advantage for the oil-rich economies. The third part proceeds with the methodology employed to measure the success of the "Dubai Model" in the UAE and in application to other regions. The last part brings the results and investigates the degree to which other oil and gas countries in the region (i.e. Saudi Arabia, Kuwait, Qatar, Iran) have adopted the so-called "Dubai Model". It also examines if the Dubai Model is being employed in the Eurasian (Central Asian) oil and gas regions of Kazakhstan, Azerbaijan, Turkmenistan and Uzbekistan. The objective is to gauge if the Eurasian economies are employing the traditional growth strategies of oil-rich non-OECD countries in managing their natural resources or are they adopting the newer non-traditional model of economic growth, such as the "Dubai Model."

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    Item Type: Working Paper
    Subjects for non-EU documents: EU policies and themes > External relations > EU-Middle East
    EU policies and themes > External relations > EU-Asia-general > Central Asia
    EU policies and themes > External relations > international trade
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > American Consortium on European Union Studies > ACES Working Papers
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 15 Jan 2015 11:24
    Number of Pages: 26
    Last Modified: 15 Jan 2015 11:24
    URI: http://aei.pitt.edu/id/eprint/59066

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