THE GCC TODAY AND TOMORROW: AN ANALYSIS OF GROWTH FACTORS


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Abstract

The article examines the state of the factors in the development of the economy of Persian Gulf countries – Bahrain, Oman, Qatar, Kuwait, UAE and Saudi Arabia. The author identified the internal factors (land and labour as well as capital), and external – foreign trade and export/import of investment. Each of them made a certain contribution to the socio-economic dynamics of the countries of the region. The external factor – foreign trade based on domestic factor "land" remains fundamental, as shown by global and regional economic trends in 2014-2015 In this regard, the author comes to the conclusion that the countries are facing serious challenges to further diversify the national economy and developing new sources of funding socio-economic processes in the region.

About the authors

Lyudmila Vasilievna Shkvarya

Peoples’ Friendship University of Russia

Author for correspondence.
Email: destard@rambler.ru

Doctor of Economics, Professor of the Department of Political Economy at RUDN University

117198, Moscow, Miklukho-Maklaya str., 6

Vasiliy Igorevich Rusakovich

Plekhanov Russian University of Economics

Email: destard@rambler.ru

Candidate of Economic Sciences, Associate Professor of the Department of World Economy at the Plekhanov Russian University of Economics

117997 Moscow, Stremyanny per. 36

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