United Arab Emirates Government Polices To Encourage Economic Diversification From The Oil Base

rock crude color offense TheoryThe crude inunct plague possibility , which likewise forms part of the more ecumenic concept of resource jonah , emerged as the negation of the assumption that revenue enhancement generation capable on natural resources would create wealthiness (Stevens , 2003 . The anele curse theory posits that the countries strongly dependent on the export of natural resources that be non-renewable particularly crude cover , are likely to pair a slower gradation of scotch development (Katz , 2004 . The anele curse theory apply to countries or economies largely dependent on the export of oil such as the diaphragm East and MENA . A look of reasons account for this theoryHistorical Development of the Oil Curse TheoryThe oil curse theory emerged during the 1970s when the oil shocks highlighted the impact of oil dependance on exporting countries .

During this prison term , the major oil producing countries in the Middle East implement an censor of oil exports to the United States for semipolitical and economic reasons . The political reason is to jaw the United States not to support Israel in its military campaigns . The economic reason is for the oil exporting countries to arouse income generation lessen the supply of oil in the world-wide market at an increase level of demand would energize oil prices (Rosser , 2006 ) However , the embargo gave the opportunity for the oil and aptitude sector in former(a) countries to develop in to meet the demand . The impact is the proc ess of competitors increasing the competitiv! e pressureOil Curse in Developing CountriesIn developing...If you fatality to get a spacious essay, order it on our website: OrderEssay.net

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