Analyzing and forecasting the Gulf Cooperation Council's geopolitical environment

Western Accounting Practices Fail to Understand Saudi Arabia

By Özgür Pala
April 12, 2017

Despite their status as latecomers to modernization, Gulf Arab countries have achieved astonishing economic growth since petrodollars began to fill their state coffers. Similar to most other Arab states, the six members of the Gulf Cooperation Council (GCC) have played a dominant role in deciding, regulating, and managing their own economic systems. The rentier state arrangements, and the socio-economic and socio-political expectations that have come with the rentier mentality, have traditionally motivated the GCC governments to intervene freely in their respective national economies.

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*Özgür Pala is a Doha-based analyst of Middle Eastern affairs. His research interests include identity, security, and foreign policy decision making in the GCC.