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Diversification in Gulf hydrocarbon economies and interactions with energy subsidy reform: lessons from Kuwait

Abstract:

After the recent oil price declines in mid-2014, Middle East and North Africa (MENA) oil exporters including Kuwait reduced energy subsidies and passed economic diversification-enhancing policies in an attempt to improve fiscal balance and economic sustainability. This paper argues that these economies already have a diversified base but this base has not contributed to export or fiscal diversification due to structural constraints and economic distortions. Using illustrations from Kuwait, t...

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Publication status:
Published
Peer review status:
Peer reviewed

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Department:
Oxford Institute of Energy Studies
Role:
Author
Publisher:
Oxford Institute for Energy Studies Publisher's website
Series:
OIES PAPER
Publication date:
2019-04-29
DOI:
Paper number:
MEP 23
Keywords:
UUID:
uuid:cf1ad095-513a-4045-85cd-3825c01867fb
Deposit date:
2019-04-30

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