The Economic Statecraft of the Gulf Arab States

Reviewed by: Najam Abbas – London, UK

Published by: London: I.B. Tauris, 2023, 192pp. ISBN: 978-0755646661

Karen E. Young delves into the strategic economic interventions of the Gulf Cooperation Council (GCC) states in the Middle East and North Africa (MENA) region. Her analysis explores how these oil-rich nations leverage their financial resources to wield influence and achieve both political and economic objectives.

Young aptly articulates the mechanisms, motives, and tools employed by the GCC states to reshape aid, development, and investment patterns across the MENA region. The author notes a departure from traditional patronage models toward more sophisticated and agile intervention strategies. Young highlights that these new models are characterized by unique institutional designs driven by state-owned initiatives, aiming not only to consolidate wealth among the ruling elites but also to advance broader political goals regionally and globally.

Young illustrates the transformative potential of these interventions, with GCC states offering a prescriptive model for global investment and development. These states prioritize accelerating productivity growth for their national labour forces and aim to revitalize the economies of their political allies. The pursuit of new energy export destinations and investment opportunities for a post-oil future is central to their strategy.