Since the 1990s, the Gulf Cooperation Council (GCC) countries aimed to focus in their economic planning on diversification of their economies that are mainly dependent on oil with varying degrees depending on the country, to avoid the high fluctuations in global oil prices that cause volatility and instability in their national incomes. Applying an empirical and comparative approach for two distinguished economies out of the six GCC countries, namely United Arab Emirates (UAE) and Saudi Arabia (SA), this study aims to use time series data over the period 1980-2014 for both countries to reflect the diversification attempts’ effect on GDP per capita.
The World Bank (2010) infers that countries which implement prudent macroeconomic policies, governance and social policies supported by effective and efficiently implemented institutional frameworks tend to experience higher economic growth, development and enjoy tolerable levels of democratic institutions and good governance. Guided by the scholarly domains of contemporary economic growth, governance and social justice theories, the contemplated research will examine aggregate figures of economic performance in Kenya, Ghana and Zambia. The traditional measures of economic growth and development such as GDP, GNI, HDI and MDGs will be utilized. Country Policy & Institutional Assessment (CPIA), Performance-Based Allocation (PBA) and Corruption Perceptions Index (CPI) are other generally accepted measures that will be utilized to assess quality and efficacy of governance, social policies and institutional performance. By comparing the aggregate and country level indicators of economic growth and development with the quality and efficacy of institutional policies, the contemplated research will attempt to provide data based indication about the relationship between economic growth, governance and social justice and link the findings to actual development outcomes in Kenya, Ghana and Zambia.
Worsening disparities among and within countries in terms of income, GDP, and welfare have occupied the attention of researchers and policy makers over the years; in particular, how the alignment of these disparities with one or more language, religion, or geography creates violence and conflict. In Ghana, there is a north-south divide of the country in terms of income, access to services, and other development outcomes. Orthodox economics holds that these disparities will disappear with economic growth and with time, but the opposite is happening in practice. Although Ghana has registered positive economic growth since 1983, poverty and spatial inequality in terms of incomes, access to services and welfare has worsened, especially between northern and southern Ghana.
Resolving international conflicts between states is vital in facilitating the growth of international trade and development, and to encourage foreign investment across nations. The persistence of conflicts among nations has proved to be detrimental to economic growth and development for the parties involved in the conflict. Authors such as Kremeni︠u︡k (1991), Zartman (1999) and Bercovitch (2007) argue in favour of implementing conflict resolution techniques such as negotiation and mediation in resolving international disputes. The responsibility for implementing these techniques lies with the foreign policy makers and business leaders within nations to encourage the mitigation of conflict, failing which the nations would face setbacks in their economic output and eventually their overall international image. This would ultimately result in the absence of a potent scenario in which international trade and investment can flourish.
Ranked in the bottom 10 countries within the Human Development Index (UNDP, 2015), Sahel countries not only face chronic poverty, but also compounded disasters. After three decades of implementing projects and programs through economic aid, few tangible changes have been achieved. Rarely, some improvements have been observed, but it has been difficult to correlate these changes to any one intervention.
Monarch Business School is happy to announce that the recent Doctoral workshop held at the Rapperswil Castle on Lake Zurich was a great success with over 20 Doctoral candidates attending. Ten doctoral degrees were awarded during the graduation ceremony that followed the workshop. In attendance from the faculty were: Dr. Keller, Dr. Bevan, Dr. Qudrat-Ullah, […]
While Albania has in place the key structures of the education system, the past educational legislation and reforms were not sufficient to fully develop the institutions of higher education. The attempts to establish premium-quality universities and research institutions were continued with the New Law on Higher Education. However, the standards in higher education, particularly in terms of scientific research, are still not on a sufficiently high level; the country itself is facing serious social and economic challenges, and research programs are both small in scope and regionally fragmented.
Cystic fibrosis (CF) is a life-shortening condition with no cure. Available therapies relieving the symptoms of CF are complex and time-consuming. A comprehensive review assessing adherence to different CF therapies, association of adherence with outcomes, and factors influencing adherence was undertaken to inform optimal patient management strategies.
As of 2015, the total Gross Domestic Product (GDP) of the GCC Region was $1.74 billion. Between them, these six countries hold close to 40% of the world’s oil reserves in its land––the largest in the world with 486.8 billion barrels––and 22% of the world’s proven gas reserves (GCC, 2015). However, the current risk to the outlook of the economy in the region is a decline in oil prices whereby external oil shocks could severely impact the macro economy. Based on a study of GCC 2020 conducted by The Economist (2010), the GCC countries depend largely on the production and export of oil, which is roughly 40% of the region’s GDP. However, expectations indicate the depletion of most reserves of oil within 25 years, which pushes these countries to work on diversifying their economies. Exchange rate management in the GCC has been a significant concern for both economic and political research. Thus, the consideration of exchange rate regimes became a controversial issue for policy makers especially those in the GCC. The US represents only 7% of the region’s total trade, which makes the benefit of pegging to the USD economically questionable. Based on the need of adjusting monetary policies according to the needs of the domestic economies of the GCC, especially during high inflation periods and external oil shocks periods, the contemplated research will seek to recommend a more suitable exchange rate policy that best benefits these economies. Moreover, using empirical findings, the contemplated research will identify a specific taxation policy that can help GCC governments diversify their income so that it is not so highly dependent on oil revenues.
Monarch Business School Switzerland is happy to announce that the Doctoral workshop held last week at the Rapperswil Castle on Lake Zurich was a great success. All doctoral candidates were able to present their research and received critiques of their approaches and research method in order to improve upon their efforts.