HomeHome

Sustaining Investment in Innovation in Oil Rich Gulf Countries Amidst Falling Oil Prices

Meshaal Jaber Al-Ahmad Al-Sabah; Ralph Palliam

Title:
Sustaining Investment in Innovation in Oil Rich Gulf Countries Amidst Falling Oil Prices
Author(s):
Al-Sabah, Meshaal Jaber Al-Ahmad
Palliam, Ralph
Date:
Type:
Articles
Department(s):
Earth Institute
Volume:
17
Persistent URL:
Book/Journal Title:
Consilience: The Journal of Sustainable Development
Publisher:
Columbia University, Library/Information Service, Center for Digital Research and Scholarship
Abstract:
Oil rich Gulf Countries have identified all forms of sustainability as key drivers of innovation. Therefore innovating for sustainability is critical for an economy’s political legitimacy, socio-economic reputation, and ecological performance. Sustaining investment in innovation requires an understanding of returns or payoffs accruing to an investment in innovation. Sustainable development is fraught with challenges particularly when an economy’s growth is linked to a single resource. Research and development together with productivity growth rates have become innovation indicators and continue to raise questions about their interpretation and implication. In resource-laden rich countries the challenge is further exacerbated by inflows accruing from benevolent government subsidies. This empirical study reviews the variables for policy formulation associated with innovation in the six resource-rich oil countries of the Gulf and considers its determinants. Negative relationships between resource abundance and poor economic performance have often been empirically established, providing support for the “resource curse” hypothesis. The culture of governance, norms, and values that pervade oil-rich countries become key determinants of their economic success. The primary purpose of this study is to determine the factors associated with sustainable innovation in the Gulf and to address the concerns related to the governance of resources that necessitate further innovation.
Subject(s):
Oil industries
Oil industries--Political aspects
Oil industries--Environmental aspects
Sustainable development--Economic aspects
Sustainable development
Natural resources—Management
Item views
98
Metadata:
text | xml
Suggested Citation:
Meshaal Jaber Al-Ahmad Al-Sabah, Ralph Palliam, , Sustaining Investment in Innovation in Oil Rich Gulf Countries Amidst Falling Oil Prices, Columbia University Academic Commons, .

Columbia University Libraries | Policies | FAQ