Economic Diversification in the United Arab Emirates
Dec 20, 2012
DOI:
Published in: Economic Horizons (2012), Vol. 33, No. 122.
Economic diversification, in the context of the UAE economy, means reducing dependence on the crude oil sector by developing a non-oil economy, till it becomes capable of sustainable growth after the short-lived oil reserves exhaust. The study is interested in assessing the extent of success in economic diversification process in the UAE by the following indicators: • The decrease in the contribution of oil sector in the generation of gross domestic product during the period of 1975 – 2010. • Structural change of non-oil GDP. • Why did economic diversification fail in Iraq after a pause of oil exports in the beginning of the 1990’s of the last century? • Is there still a connection between economic growth and fluctuations in the oil prices and global economic crises? • The contribution of oil revenues to public revenues. • Contribution of non-oil exports in funding for imports. Al-Jundi, S. (2012). Economic Diversification in the United Arab Emirates. Economic Horizons, 33(122), 9-37.