The Prospects of Diversifying Kuwait From a Single Economy
Open Access
- Area of Honors:
- Economics
- Degree:
- Bachelor of Science
- Document Type:
- Thesis
- Thesis Supervisors:
- Barry Ickes, Thesis Supervisor
- Russell Paul Chuderewicz, Honors Advisor
- Keywords:
- Diversification
- Kuwait
- AlMonawer
- KIA
- SWF
- Sovereign Wealth Fund
- reliance on oil
- Oil-based economies
- Abstract:
- In this paper, I examine the prospects of diversification in an oil-based economy. In Kuwait, the economy has proven to be highly volatile due to its dependence on oil. High revenue surplus in Kuwait’s recent history can offset the possibility of a potentially high income insecurity through diversification. The possibilities of diversification to a reliable and sustainable economy are examined in this paper as well as the benefits and risks involved. Kuwait’s Sovereign Wealth Fund is studied as a possible avenue of diversification.