SOCIO-ECONOMIC DYNAMICS OF THE COUNTRIES OF THE PERSIAN GULF AND THE DIRECTION OF LONG-TERM SUSTAINABLE DEVELOPMENT


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Abstract

The article analyzes the dynamics of socio-economic development of the Gulf countries in 2003-2013 Shows that the positive trend is largely contributed not only to the high hydrocarbon prices on the world market, but diversification of the national economy, its modernization and the expansion of both the geography and the nomenclature of foreign trade. The creation of free economic zones, private sector development, the growth of domestic consumer demand due to increasing incomes and purchasing power of the population, as well as the success of regional economic integration provided a high effect of the regional economy. The article suggests a number of practical considerations and appropriate measures for the formation of a more rational economic structure.

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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