The Kuwaiti economy has experienced severe fluctuations in oil revenues since late 1973. The sharp rise and fall in oil prices marks two distinguished periods in the economic history of the oil producers. First, the period 1974-1981, which is regarded by many as the boom years. Second, the period following 1982 when oil prices slumped and the oil producers went into severe receSSIons. Since late 1982, the Kuwaiti economy experienced a sharp tum around due to the fall in oil prices and the reduction in quantities of exports. The future development in Kuwait would, no doubt depend on the behavior of oil prices and the quantity exported per year. A rise in export prices at higher rates relative to that of import prices is a real trade gain. However, the fluctuations in oil prices would have serious impacts on the path of economic development of the country. The objectives of this study are; examInIng the behavior of oil prices over the last four decades, analyzing the world demand-supply relationship for crude oil, investigating the impact of fluctuations in oil prices on the interaction between the Kuwaiti economy and those of its major trading partners, examining the effects of the fluctuations in oil prices in the resources balance of the Kuwaiti economy, analyzing the impact of fluctuations in oil prices on the pattern of Kuwaiti imports, investigating the future development in Kuwait under various assumptions regarding the behavior of oil prices and the quantity of oil exported.
| Identifer | oai:union.ndltd.org:bl.uk/oai:ethos.bl.uk:267360 |
| Date | January 1999 |
| Creators | Al-Sabah, Khalifa Nasser |
| Publisher | University of Sunderland |
| Source Sets | Ethos UK |
| Detected Language | English |
| Type | Electronic Thesis or Dissertation |
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