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The role of the state in economic development: a case study of the GCC countries

Jamhour, Ali (2012)
Ph.D. thesis, University of Birmingham.

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The aim of this thesis is to assess the role of the state in economic development in the GCC countries. Three aspects of this subject are investigated. An Indirect role of the state is analyzed through the effect of financial development on the economic growth. And direct roles of the state are examined through the impact of defence spending and that of public infrastructure on the development process.

First the role of financial development is analyzed by using three alterative causality tests. The results suggest that the existence of long-run relationship between economic development and the state of financial development in most GCC countries. The results further suggest that financial sector can be a leading sector for some of the GCC countries. Second, the impact of defence spending on economic development is examined by employing VAR/ECM models. The emerging results suggest that defence expenditure appears to retard economic development for countries with relatively heavy defence expenditure (Saudi Arabia and UAE), whilst positive effect is suggested for GCC member with relatively low defence spending (Bahrain and Oman). Third, for one member of GCC (Saudi Arabia) the role of public infrastructure in economic development is analyzed also using VAR/ECM. The results indicate that the high public capital expenditure in Saudi Arabia has insignificant effect in the economic development in the long – run.

Type of Work:Ph.D. thesis.
Supervisor(s):Sen, Somnath (Professor) and Horsewood, N. (Nick)
School/Faculty:Colleges (2008 onwards) > College of Social Sciences
Department:The Business school
Subjects:HB Economic Theory
Institution:University of Birmingham
ID Code:3518
This unpublished thesis/dissertation is copyright of the author and/or third parties. The intellectual property rights of the author or third parties in respect of this work are as defined by The Copyright Designs and Patents Act 1988 or as modified by any successor legislation. Any use made of information contained in this thesis/dissertation must be in accordance with that legislation and must be properly acknowledged. Further distribution or reproduction in any format is prohibited without the permission of the copyright holder.
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