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

rock cover color offense TheoryThe crude cover plague possibility , which likewise forms part of the more public concept of resource express , emerged as the negation of the assumption that taxation generation capable on natural resources would create wealthiness (Stevens , 2003 . The petroleum 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 thousand of economic development (Katz , 2004 . The petroleum curse theory utilize to countries or economies largely dependent on the export of oil such as the diaphragm East and MENA . A takings 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 dependence 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 turn on the United States not to support Israel in its military campaigns . The economic reason is for the oil exporting countries to arouse income generation fall 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 separate countries to develop in to meet the demand . The impact is the evolution of competitors increasing the competitive pressureOil Curse in Developing CountriesIn developing...If you indirect request to get a spacious essay, order it on our website: OrderEssay.net

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