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The Gulf after oil

by Thomas Schellen

It is timely and prudent to review the policies of Gulf Cooperation Council countries. The region, which is known for deriving much of its economic revenues from the exporting of oil, entered difficult fiscal waters around 2014. It is in need of new ideas for economic development, given the confluence in 2016 of uncertainty about oil price developments, planned implementation of sweeping reforms in the Saudi financial markets and overall rethinking of the global economy. The persistent weakness of stock markets in the GCC in 2016 is also part of the bold argument that venture capital instruments and companies “are the only investment vehicles capable of securing long-term economic growth and job creation in the GCC”. This is the perspective put forth in a paper that is accessible via the website of Executive Magazine. It notably discusses venture capital as a catalyst for economic growth in the GCC, with a

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