IDEAS home Printed from https://ideas.repec.org/p/ehl/lserod/55279.html
   My bibliography  Save this paper

Governing markets in Gulf States

Author

Listed:
  • Thatcher, Mark

Abstract

Gulf states have altered the institutions of market governance as part of new strategies to develop their domestic markets and attract outside investment. In a sharp break from traditional institutions, several states have created new sectoral independent regulatory agencies (IRAs) in key sectors. The paper examines when, how and why these agencies have been created in two economically and politically strategic sectors – stock exchanges for company securities trading and telecommunications – that lie at the heart of new economic strategies. It argues that an analytical framework based on internationalization best explains the pattern of partial adoption of IRAs in Gulf Cooperation Council (GCC)states. International factors have provided crucial impetus for reform. The desire to attract non-Gulf capital and expertise has provided a rationale for IRAs; overseas reforms have offered examples to be copied or at least modelled; the recommendations of international organizations and free trade agreements have aided in legitimating reforms. But the impact of international factors has been mediated by domestic conditions, including the extent of oil wealth and the position and strategies of national policymakers. As a result, the spread of IRAs varies significantly among GCC states.

Suggested Citation

  • Thatcher, Mark, 2009. "Governing markets in Gulf States," LSE Research Online Documents on Economics 55279, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:55279
    as

    Download full text from publisher

    File URL: http://eprints.lse.ac.uk/55279/
    File Function: Open access version.
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Spiller, Pablo T, 1996. "Institutions and Commitment," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 5(2), pages 421-452.
    2. Gourevitch, Peter, 1978. "The second image reversed: the international sources of domestic politics," International Organization, Cambridge University Press, vol. 32(4), pages 881-912, October.
    3. Bennett, Colin J., 1991. "How States Utilize Foreign Evidence," Journal of Public Policy, Cambridge University Press, vol. 11(1), pages 31-54, January.
    4. World Bank, 2004. "Financial Sector Assessment : Kuwait," World Bank Publications - Reports 15943, The World Bank Group.
    5. Simmons, Beth A. & Elkins, Zachary, 2004. "The Globalization of Liberalization: Policy Diffusion in the International Political Economy," American Political Science Review, Cambridge University Press, vol. 98(1), pages 171-189, February.
    6. Simmons, Beth A. & Dobbin, Frank & Garrett, Geoffrey, 2006. "Introduction: The International Diffusion of Liberalism," International Organization, Cambridge University Press, vol. 60(4), pages 781-810, October.
    7. Braithwaite,John & Drahos,Peter, 2000. "Global Business Regulation," Cambridge Books, Cambridge University Press, number 9780521784993, January.
    8. Radaelli, Claudio M., 2004. "The Puzzle of Regulatory Competition," Journal of Public Policy, Cambridge University Press, vol. 24(1), pages 1-23, May.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jean-Frédéric Morin & Richard E. Gold, 2014. "An Integrated Model of Legal Transplantation: The Diffusion of Intellectual Property Law in Developing Countries," ULB Institutional Repository 2013/149496, ULB -- Universite Libre de Bruxelles.
    2. Sophie Perrin & Thomas Bernauer, 2010. "International regime formation revisited: Explaining ratification behaviour with respect to long-range transboundary air pollution agreements in Europe," European Union Politics, , vol. 11(3), pages 405-426, September.
    3. Felix Strebel & Thomas Widmer, 2012. "Visibility and facticity in policy diffusion: going beyond the prevailing binarity," Policy Sciences, Springer;Society of Policy Sciences, vol. 45(4), pages 385-398, December.
    4. Christian Bjørnskov & Niklas Potrafke, 2012. "Political Ideology and Economic Freedom Across Canadian Provinces," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 38(2), pages 143-166.
    5. Jorge Chica‐Olmo & Marina Checa‐Olivas, 2021. "Spatial impact of factors influencing the achievement of the Europa2020 employment targets," Papers in Regional Science, Wiley Blackwell, vol. 100(3), pages 633-649, June.
    6. Daniel Berliner, 2013. "Follow your Neighbor? Regional Emulation and the Design of Transparency Policies," KFG Working Papers p0055, Free University Berlin.
    7. Gunitsky, Seva, 2014. "From Shocks to Waves: Hegemonic Transitions and Democratization in the Twentieth Century," International Organization, Cambridge University Press, vol. 68(3), pages 561-597, July.
    8. Nadiya Kostyuk, 2024. "Allies and diffusion of state military cybercapacity," Journal of Peace Research, Peace Research Institute Oslo, vol. 61(1), pages 44-58, January.
    9. Jandhyala, Srividya, 2015. "International and domestic dynamics of intellectual property protection," Journal of World Business, Elsevier, vol. 50(2), pages 284-293.
    10. Filippo Belloc & Antonio Nicita & Pier Luigi Parcu, 2011. "Deregulating Telecommunications in Europe: Timing, Path-Dependency, and Institutional Complementarities," RSCAS Working Papers 2011/47, European University Institute.
    11. Filippo Belloc & Antonio Nicita, 2011. "The political determinants of liberalization: do ideological cleavages still matter?," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 58(2), pages 121-145, June.
    12. Fabrizio Gilardi, 2010. "Who Learns from What in Policy Diffusion Processes?," American Journal of Political Science, John Wiley & Sons, vol. 54(3), pages 650-666, July.
    13. Martin Gassebner & Noel Gaston & Michael J. Lamla, 2011. "The Inverse Domino Effect: Are Economic Reforms Contagious?," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 52(1), pages 183-200, February.
    14. Filippo Belloc & Antonio Nicita, 2011. "Liberalization-Privatization Paths: Policies and Politics," Department of Economics University of Siena 609, Department of Economics, University of Siena.
    15. Iftikhar Lodhi, 2021. "Globalisation and public policy: bridging the disciplinary and epistemological boundaries [Which synthesis? Strategies of theoretical integration and the neorealist-neoliberal debate]," Policy and Society, Darryl S. Jarvis and M. Ramesh, vol. 40(4), pages 522-544.
    16. Wegrich, Kai, 2009. "The administrative burden reduction policy boom in Europe: comparing mechanisms of policy diffusion," LSE Research Online Documents on Economics 36536, London School of Economics and Political Science, LSE Library.
    17. Alfano, Vincenzo & Ercolano, Salvatore & Pinto, Mauro, 2022. "Fighting the COVID pandemic: National policy choices in non-pharmaceutical interventions," Journal of Policy Modeling, Elsevier, vol. 44(1), pages 22-40.
    18. Edward Anderson & Samuel Obeng, 2021. "Globalisation and government spending: Evidence for the ‘hyper‐globalisation’ of the 1990s and 2000s," The World Economy, Wiley Blackwell, vol. 44(5), pages 1144-1176, May.
    19. Bernauer, Thomas & Kalbhenn, Anna & Koubi, Vally & Ruoff, Gabriele, 2008. "Globalization, Political Regimes and International Environmental Commitment," Proceedings of the German Development Economics Conference, Zurich 2008 1, Verein für Socialpolitik, Research Committee Development Economics.
    20. Mark Purdon, 2015. "Advancing Comparative Climate Change Politics: Theory and Method," Global Environmental Politics, MIT Press, vol. 15(3), pages 1-26, August.

    More about this item

    JEL classification:

    • J1 - Labor and Demographic Economics - - Demographic Economics

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ehl:lserod:55279. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: LSERO Manager (email available below). General contact details of provider: https://edirc.repec.org/data/lsepsuk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.