The Prospects of Diversifying Kuwait From a Single Economy
Open Access
Author:
Almonawer, Ahmad S
Area of Honors:
Economics
Degree:
Bachelor of Science
Document Type:
Thesis
Thesis Supervisors:
Barry William Ickes, Thesis Supervisor Dr. 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.