Encyclopedia of Global Business

I have been informed by my professor Nik Dholakia that a proposal to publish two articles coauthored by him and I in the Encyclopedia of Global Business has been accepted. This is exciting news for both of us, and we will be working diligently on preparing two articles, one on Oman, the other on Qatar, for the Encyclopedia. It will be published in 2008 by Sage Publications. Both Nik and I will be collaboratively writing and editing our work over the next month or so. I will be posting updates every week to inform everyone of our progress.

I have come up with preliminary notes regarding the general region of my area of research that we will be grabbing excerpts from. We have been told that each article must be under 750 words, and must utilize 6-10 scholarly publications for reference. I have begun researching reputable sources that discuss the shifting economic environments of the Middle Eastern states.

This is what I have so far, and will be editing constantly (so be sure to keep posted!):

Notes

General
The Gulf Region is one of the oldest and continuously inhabited regions in the world. Dilmus, a flourishing civilization on the coast of the Gulf, came into existence over 5,000 years ago. The two most prominent resources in the region were historically pearls and dates. The trade of these two products on the international market continued to become the major products of the Gulf until the discovery of oil. Soon after nations in the region began to tap into the “black gold,” it became the major contributor to the GDP and almost the only export commodity in the region. The Gulf has always been regarded as the “Land of Living,” “Land of Paradise,” and “Home of the Gods.” The Eastern coast is certainly flourishing, and experiencing exponential growth as a result of residual wealth from fossil fuels. A crucial move toward regionalism in the Gulf was effected in 1979 with the formation of the Gulf Cooperation Council (GCC), which is comprised of Oman, Kuwait, Qatar, Bahrain, Saudi Arabia and the United Arab Emirates. The steady supply of this resource will soon become exhausted, just as every other resource in the region seemingly has.

This inevitable cycle will give rise to a new commodity, however, which many of the region’s leaders have realized. Tourism is the fastest growing industry in the Gulf, and nearly every aspect of society in the Eastern Gulf nations cater to just that. This is invariably attracting significant growth in every other business sector in the region. International commerce and trade have found their new centers of influence; Dubai, Doha, Abu Dhabi, Kuwait City and Muscat. The Middle East of the old is in one of the largest phase of economic transformation that the world has ever experienced.

With new commercial growth comes tremendous economic and social responsibility on behalf of the local governments. Economic Free Trade Zones have been established in the States of the United Arab Emirates, Oman and Qatar. A region-wide campaign to strengthen the private sector has been regarded as the strategic goal for securing future incomes from non-oil sources. Given this objective, industrialization has become a common agenda in the development plans of the Gulf states. To ultimately achieve this objective of diversification, nations in the region have diverted a sizeable segment of revenues received from oil exports to finance ambitious programs of industrialization. As a result, joint ventures with foreign partners were formed to import technologies capable of building the economies. Buildings, trade centers, hotels and islands have been developed with the assistance of international investment. This is resulting in the emergence of locally based investment firms and agencies, such as Dubai World, currently providing capital for over $1 trillion worth of projects in domestic and international markets.

In recent years, the delicate political climate in the Middle East has often overshadowed critical discussions related to economic and social development in the Arab world. The region's economic fragility has intensified due to the economic backlash following September 11, 2001. Scholars and researchers are now focusing on the chalenges of improving the region's competiveness at a particurally critical time.


Oman


Qatar
With respects to the general Arabian Penninsula, Qatar has been one of the earliest regions occupied by Muslims. During the mid to late 18th century, a branch of the Utub tribe in Kuwait known as the Al Khalifa emigrated to Qatar and eventually settled on the northwest coast of the peninsula. The Al Khalifa had a long-established reputation as accomplished sailors and skilled traders, and they soon became the mainstay of commercial development in this region. The Ottoman and British Empires had imperialized the region during the past three centuries. The British initially sought the peninsula for its ideal location in relation to their shipping routes to their colonial interests in India. The weakening of the colonial power of the British Empire was prevalent following the second World War, especially after the independence of India in 1947. Pressure for a British withdrawal increased in the 1950s. They announced a political withdrawal from the Gulf region in 1968, resulting in Qatar joining seven other Trucial States in a federation. Regional disputes entailed, and Qatar ultimately became an independent sovereign nation on September 3, 1971.
Qatar has experienced exponential growth in its economy following the discovery of oil. Many social and economic developments have ensued following its declaration of independence, including rights for women, and the launch of the region’s largest media outlet, Al Jazeera. Since 1995, Emir Hamad bin Khalifa Al Thani has ruled Qatar. Qatar currently ranks as the ninth wealthiest nation in the world per capita.
Nearly all of Qatar’s native citizens proclaim Islam, but international expatriats form a majority of the country’s residents.


Bibliography:
Abbas Abdelkarim, Change and Development in the Gulf, (Macmillan Press, 1999); Ragaei el Mallakh, Qatar, Energy and Development, (Croom Helm, Ltd., 1985); Ian Skeet, Oman: Politics and Development, (St. Martin's Press, Inc., 1992); A. Lopez-Claros and K. Schwab, The Arab World Competetiveness Report, (World Economic Forum, Palgrave Macmillan, 2005); M. Noland and H. Pack, The Arab Economies in a Changing World , (Peter G. Peterson Institute for International Economics, 2007); N. Raphaeli and B. Gersten, “Sovereign Wealth Funds: Investment Vehicles for the Persian Gulf Countries”, Middle East Quarterly (2008);