Author(s): Reda Cherif , Fuad Hasanov , and Min Zhu
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 15 April 2016
Keywords: Export diversification, Nonoil sector, Oil exporting countries, Economic development, environment, development, oil, capital, industry, Gulf Falcons,
The 'Gulf Falcons'-the countries of the Gulf Cooperation Council-have high living standards as a result of large income flows from oil. The decline of oil prices between summer 2014 and fall 2015 underscores the ur...