Browse
related articles
The reports throw fresh light on the two countries' macroeconomic policies, financial systems, trade and investment dynamics, labor markets and governance.
Dr. Tarik Yousef, Dean of the Dubai School of Government, served as the Project Director responsible for managing and steering the development and production process of both reports. Mr. Paul Dyer, Research Associate at the Dubai School of Government, assisted in the compilation of the reports, which include contributions from key regional economists.
The Bahrain Country Profile indicates that the island nation is one of the fastest growing economies in the Arab region by virtue of its low inflation and sensible fiscal policies that complement its sound financial sector. In addition, a multitude of trade agreements with partners across the globe have opened new doors for development. The report also suggests that reforms to the country's political system and labor market regulations have contributed to a restructuring of the Bahraini economy. However, internal labor pressures and rigid market regulations continue to inhibit economic expansion.
The report recommends further diversification of trade goods and partners in order to stabilize the external sector. Continued efforts at reforming Bahrain's labour market regulatory structure should help alleviate pressures on the labor market. Moreover, synergies between political and economic governance will greatly contribute to national wealth and future growth.
The Oman report indicates that the country is facing significant long-term challenges with regard to the sustainability of growth, volatility, employment creation and governance.
Oman's dependence on oil production is now threatened due to declining reserves and escalating production costs. However, the report notes that high oil prices have increased the fiscal space for Omani policy makers, and the government is taking advantage of this window of opportunity.
Researchers have already shared the findings of the Oman Country Profile with Omani policymakers and other stakeholders, with a view to building consensus about the most desirable course of action for the country.
Dr. Tarik Yousef said:
"We are proud to have participated in this regional initiative that is based on sound research and analysis. The findings of these reports vividly highlight the potential that is present in Oman and Bahrain, and this potential can be leveraged for the benefit of both countries. We are confident that our findings will generate long-term value for both the citizens of both countries."
"The Dubai School of Government is committed to promoting good governance and long-term sustainability by enhancing the Arab world's capacity for effective public policy. We believe that policy-oriented research is an essential tool for the development of societies, and continuously work toward disseminating it throughout the region."
Established in 2005 in cooperation with the Harvard Kennedy School, the Dubai School of Government is committed to the creation of knowledge, dissemination of global best practices and the training of policy makers in the Arab world. The School is focused on capacity building, and conducts various programmes that seek to promote good governance through enhancing the region's capacity for effective public policy.
Posted by Rima Ali Al Mashni
