This volume focuses on the role of the private sector in diversifying the economics of Gulf
countries in the post-petrodollar era when fluctuating and declining oil prices are negatively
impacting national expenditures. It explores current policies of countries in the Gulf
Cooperation Council and their efforts to shift their economies away from heavy dependence on
hydrocarbons. The structural changes will create favorable conditions for the private sector to
flourish shift production dependence from public to private sector and allow for more
efficient resource allocation. Such changes will also allow local banks to provide financial
support to small and medium enterprises boost entrepreneurship for job creation and
strengthen organizational structure and efficiency.This is the first volume in Economic
Diversification in the Gulf Region.
