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We implement a two‐stage methodology based on the structural vector autoregressive and time‐varying parameter vector autoregressive models to examine the time‐varying effect of distinct types of oil‐price shocks on sovereign credit risks measured by credit default swap (CDS) spreads in Gulf Cooperation Council countries. Using monthly data for the period from May 2011 to February 2022, our results show time‐varying responses to structural oil shocks in the short‐ and medium‐run periods, with more fluctuations in responses detected over the full sample period in the former. Overall, we detect a break in the contagious impacts of oil shocks during and in the aftermath of, the 2014–2015 oil crisis and COVID‐19 crisis. Specifically, the Bahraini market is found to exhibit a positive (negative) reaction to the oil supply shocks (OS) and oil market‐specific demand shocks (OSD) throughout the pandemic period. Furthermore, we uncover a transient response from the Saudi and Qatari CDS spreads to the aggregate demand shocks (ADS) and the OSD over the full sample period, indicating the need for portfolio rebalancing. In the UAE, we detect a positive impact over the three sampled years of OSD since 2011. Moreover, a notable decoupling pattern continues to appear between short‐ and medium‐term innovations in the ADS. Our results suggest adopting more conservative trading in the CDS markets while understanding the oil price and the economic state. The complexity of the trading strategy should also depend on the target Gulf market itself and that seems essential when it comes to investing in Qatar and Saudi Arabia. [ABSTRACT FROM AUTHOR]

Background: Cancer is a leading cause of morbidity and mortality in the Gulf Cooperation Council (GCC) countries. This study aims to provide cancer incidence and mortality estimates in 2020 in the GCC countries alongside future projections for 2040 to shape cancer control policy in the region. Methods: The estimated numbers of new cancer cases and deaths were extracted from the GLOBOCAN database developed by the International Agency for Research on Cancer; new cancer cases, cancer deaths, and corresponding age‐standardized incidence and mortality rates for the year 2020 are presented. Results: An estimated 42,475 new cancer cases and 19,895 deaths occurred in the GCC countries in 2020, with corresponding age‐standardized incidence and mortality rates of 96.5 and 52.3 per 100,000, respectively. Female breast (16%), colorectal (13%), and thyroid (9%) were the most common types of cancer in the GCC countries, accounting for almost 40% of all cancer incidence. Colorectal (14%) followed by breast cancer (9%) were the leading causes of cancer death, though the magnitude of rates of the major cancer types varied substantially across the GCC countries. Even if we assume rates in the region will remain unchanged over the next two decades, the cancer burden in the GCC will increase by 116% (Saudi Arabia) to 270% (Qatar), reaching nearly 104,000 cancer cases by the year 2040. Conclusion: The sharp increase in the estimated cancer incidence and mortality predicted over the next decades in the region requires workforce and financial planning for the healthcare systems in the constituent countries, alongside broader strengthening of national cancer prevention and control efforts. [ABSTRACT FROM AUTHOR]

Climate change and extreme weather events have led to a surge in natural hazards in Pakistan that have escalated into humanitarian disasters. While remittances are often central to the livelihood of the most vulnerable, research has produced limited knowledge regarding the role of remittances in time of disaster. This paper investigates the reaction of Pakistani migrants to five major natural disasters via remittances from 1972 to 2023. Using an event‐study methodology, the paper compares the responses of remittances in different host countries namely Gulf Cooperation Council (GCC), Europe & the UK and North America. We provide evidence that remittances intensify in response to climate‐induced disasters, thus representing a reactive mechanism in time of hardship. The response is significant two (one) months after the events for GCC (Europe & the UK and North America) and tends to dissipate 5 months from the disaster occurrence (except for GCC). The intensity and the persistence of remittances' responsiveness (abnormal returns and volatility) depends on the nature of disasters, host countries' features and the economic conditions of migrants. Our findings highlight the need for further understanding the role of remittances as a coping mechanism in the face of environmental hazards to better inform policies geared toward disaster risk reduction. [ABSTRACT FROM AUTHOR]

The imperatives of economic diversification mean that Saudi Arabia and the United Arab Emirates (UAE) are scrambling to secure international markets and investments amid a series of domestic changes taking place, including centralized decision making, the marginalization of other traditional modes of governance, and rising nationalism. While there is some evidence of formal security‐related cooperation in the Gulf Cooperation Council as well as an informal security alliance operationalized by Saudi Arabia and the UAE at the onset of the Arab uprisings, these two states have gone on to pursue competing economic policies. This article assesses the economic and political interactions of Saudi Arabia and the UAE, arguing that contrary to Rosecrance's concept of "virtual states" with an emphasis on services, expertise, and creativity, connected to visions strategies in these cases, their primary power remains rooted in territorial aspects. It also finds that there are other factors such as leadership style, political and economic role conceptions, the regional and international balance of power, threat perception, and alliance formation that will continue to determine the shape and form of their cooperation or competition. [ABSTRACT FROM AUTHOR]

This study aims to investigate the moderating effect of country level institutional variables on the relationship between institutional ownership and board gender diversity. Using firm and country level data of three different cultural environments (Gulf Cooperation Council countries, UK, and France) for the years 2018–2019, this study concludes that institutional elements related to women (Women Tertiary education levels; legal support, Economic Participation and culture) create isomorphic pressure on firms that enhance the role of institutional owners in increasing women representation on board of directors. Other governance elements, such as ownership concentration, board independence and board size may indicate governance levels better than board gender diversity in certain institutional environments. The study recommended that board gender diversity should not be a priority for investors and portfolio managers in financial markets where reduced female labor market participation exists. Moreover, quotas may be a good tool for enhancing female representation among boards in contexts that have reduced female labor market participation and high levels of tertiary education attainment to maintain corporate sustainability. [ABSTRACT FROM AUTHOR]

This study explores the relationship and connectedness between oil returns and financial stresses in six Gulf Cooperation Council (GCC) countries using daily data from September 21, 2006 to May 31, 2019. The Bayesian Graph‐based Structural Vector Autoregression (BGSVAR) model is utilised to estimate and analyse the direction of causality. In addition, the spillover approach is utilised to examine connectedness and risk transmission patterns between oil returns and financial stresses in the GCC economies in both time and frequency domains. The empirical analysis of the BGSVAR model shows that oil returns and financial stresses have both a contemporary and temporal relationship, whilst findings from the spillovers analysis show that oil returns tend to act as a net transmitter of spillovers to GCC financial markets in both medium and long‐run horizons but a net receiver of spillovers in the short‐run. [ABSTRACT FROM AUTHOR]

Saudi Arabia leads the Gulf Cooperation Council countries in the construction industry, with 63% of the region's future projects and $1.4 trillion in building and transportation projects. Previous studies have shown that 60% of construction projects are behind the schedule. One of the reasons behind this delay is the inappropriate selection of contractors for construction projects; therefore, the development of a contractor performance assessment model is needed for construction projects in Saudi Arabia. The proposed model includes the major key performance indicators (KPIs) used to measure contractors' performance in construction projects. Afterward, a questionnaire is conducted with construction professionals to recommend the important KPIs to consider while developing the model. The analytic hierarchy process decision-making technique is applied for assessing relative priorities among the identified KPIs based on expert or decision-maker consensus. The results show that the time category is the most important in selecting the best contractor, emphasizing the significance of timely project completion. [ABSTRACT FROM AUTHOR]

This article explores sovereign wealth fund investments by Gulf Cooperation Council member states in China's equity market. Using data from Chinese stock exchanges, we analyze patterns of shareholding over two decades, across different sectors and among distinct funds, and compare them to their non‐Gulf counterparts. We reveal a gradual upward trajectory in both the scale and diversity of investments by Gulf funds, indicating growing engagement with the Chinese equity market. We anticipate a continuation of current trends, albeit with larger volumes and potential expansions into technological and emerging sectors that align with Gulf interests. We project that the deepening financial linkages between China and the Gulf could give rise to a mini petro‐yuan system operating under the dominance of the American dollar. This does not presage a transformation in China‐Gulf relations but should be understood within the increasing complexity of their broader economic ties. The article is part of a special issue examining the responses of Gulf countries to rising Sino‐American competition, edited by Andrea Ghiselli, Anoushiravan Ehteshami, and Enrico Fardella. [ABSTRACT FROM AUTHOR]

Since Iraq's invasion of Kuwait in the 1990s, the United States has played the role of security guarantor in the Gulf, and despite prevailing concerns of American retrenchment, it retains a strong military footprint across the region. But China's emergence as a major player in the Gulf—with its geopolitical ambitions, thirst for foreign oil, and attractive offer of business and investment with a "look the other way" policy on human rights—has stoked fears about the eclipse of American power. While the Gulf remains of strategic importance to the US global strategy, Washington's readjustment of its regional goals suggests that it is recalibrating. Drawing on the literature of foreign policy change, this analysis uses three case studies to examine Washington's recalibration toward the Gulf under the Biden presidency: US engagement with the Iran nuclear deal, US defense agreements with the Gulf Cooperation Council (GCC), and US‐GCC tech relations, specifically tensions with China over the use of Huawei technology. This article is part of a special issue on the responses of Gulf countries to rising Sino‐American competition, edited by Andrea Ghiselli, Anoushiravan Ehteshami, and Enrico Fardella. [ABSTRACT FROM AUTHOR]

The paper investigates the interplay between clean energy, environmental pollution reduction, and economic growth in the Gulf Cooperation Council (GCC) countries from 1980 to 2019, utilizing the autoregressive distributed lag (ARDL) method. The study underscores the global transition towards cleaner energy sources and its implications for the region. In assessing the determinants of economic growth, the findings reveal a positive and significant short- and long-term impact of energy production, with energy consumption exhibiting a positive and significant effect solely in the long term. The absence of a confirmed relationship in the short term is notable. Causality tests demonstrate a significant link from both energy consumption types to environmental pollution, alongside causal relationships from urbanization, energy production, and consumption to economic growth. Moreover, the results include the pivotal role of energy production in driving GDP growth, caution in short-term energy consumption effects, and significant causal links between energy consumption and environmental pollution. The recommendations to incentivize sustainable energy production, engage in long-term energy consumption planning, and adopt integrated urbanization policies provide actionable insights for policymakers. These suggestions are aimed at guiding the GCC countries in balancing the pursuit of economic growth with environmental sustainability—a delicate equilibrium that necessitates careful consideration of various factors. [ABSTRACT FROM AUTHOR]

The Saudi Arabian economy heavily uses foreign labour and hence, ranks among the top countries not only in the Gulf Cooperation Council region, but also globally in terms of remittance outflows. This study develops a theoretical model to investigate the determinants of remittance outflows from Saudi Arabia. The cointegration and equilibrium correction methods, and adjustments for small sample bias, are applied to the data for 1970‐2021 using the theoretical model developed. In the long run, keeping other factors unchanged, Saudi Arabia's gross domestic and non‐Saudi employment have positive and statistically significant impacts on the remittance outflows, while the impacts of the price level and expatriate levy are negative and statically significant. This study's findings may be useful for macroeconomic policymaking, as the remittance outflows have numerous implications for the development of the Saudi economy. Particularly, remittances are a primary channel for leaking money from Saudi Arabia, reducing the economic growth effects of fiscal spending multipliers. [ABSTRACT FROM AUTHOR]

This article explores factors influencing the extension of social protection to migrant workers in the region of the Cooperation Council for the Arab States of the Gulf (GCC). While there are some indications of new momentum for reforms, we find that reforms to address gaps in legal social protection coverage have historically been hindered by the very design of the migration system, including the assumed short‐term migration time frame and over reliance on employer‐sponsored provisions, as well as the political economy in the region, which translates into a segmented labour market and associated social protection entitlements for national and migrant workers, and limited channels for migrant worker representation. Despite some new mechanisms being developed, labour dispute and judicial systems are often ineffective in protecting workers and their families when benefits are not paid. Bureaucratic, financial, language, documentation and geographic barriers constitute further obstacles to migrant workers' access to social protection in practice. The article closes with key policy implications, including measures for: developing comprehensive legal provisions in line with international standards and principles as well as the commitments to leave no one behind and to ensure social protection for all in the United Nations 2030 Agenda for Sustainable Development; addressing practical barriers, power imbalances and outreach, monitoring and enforcement gaps; and strengthening dialogue and collaboration between all actors, including GCC and country of origin governments, employers, workers, and wider stakeholders advocating for migrant workers' rights. [ABSTRACT FROM AUTHOR]

The purpose of this research is to provide an overview of state governance for corporate social responsibility (CSR) in the countries of the Gulf Cooperation Council (GCC). A systemic literature review method is employed to collect 88 relevant publications, and a qualitative coding method is used to identify 98 governance instruments from those publications. These are grouped into 13 themes and then examined within three conceptual models. The findings reveal that most of the instruments are geared towards ethical expectations, internal and external social responsibility, raising awareness, and socio‐economic development. The findings are then explored within four theories. The results suggest that CSR governance in the GCC is at a moderate to high level of bureaucratization; reflects Islamic identity, national development targets, and business accountability; is between the stages of habitualization and objectification; and relies mostly on normative pressures. Recommendations for policymakers and company managers are then presented based on these findings. [ABSTRACT FROM AUTHOR]

This article focuses on the optimization of tilt angle for solar panels in the Gulf Cooperation Council (GCC) countries. The tilt angle is a crucial factor that affects the amount of solar radiation received by the solar panel. The study uses a mathematical model to calculate the optimal tilt angle based on the latitude and longitude of the location and compares the results with the PVWatts calculator. The importance of selecting the optimal tilt angle for maximizing solar energy production is emphasized. The study finds that the mathematical model and PVWatts calculator are in good agreement, except for the negative tilt angles calculated by the model. The article also provides monthly, seasonally, and yearly irradiance values for the GCC countries calculated using the PVWatts calculator. It suggests that changing the tilt angle 12 times during the year can enhance the power output by 10.9%. The results show that the monthly automated angle has a maximum in December and a minimum in June, with Oman having the highest maximum angle of 50.5 and the lowest minimum angle of -10.58. Kuwait has the highest maximum angle of 58.33 and the lowest minimum angle of -2.75. The results are verified by the PVWatts calculator, showing a good similarity with a percentage of error around 3%. The study highlights the importance of selecting the optimal tilt angle to achieve maximum solar energy production in the GCC countries. The mathematical model and PVWatts calculator can serve as tools to calculate the optimum tilt angle for solar panels. [ABSTRACT FROM AUTHOR]

This study is aimed at investigating the potential of the refrigerant vapor injection (VI) technique to improve the energy efficiency of air-conditioning (AC) systems in hot climates, with a focus on Kuwait's sustainability goals for 2035. The VI technique was found to significantly enhance heating and cooling systems by lowering compressor discharge temperature and improving cooling capacity, resulting in an enhanced coefficient of performance (COP). Data from previous experimental studies were analyzed to correlate the VI technique's cooling COP with operating conditions at high ambient temperatures ranging from 20°C to 52°C. The results showed that the VI technique was applicable at high ambient temperatures, leading to improvements of up to 35.4% compared to conventional cooling systems. Empirical formulas, comprised of the temperature parameters (ambient, wet bulb, condensation, and evaporation temperatures), were developed to predict the COP of the VI cooling cycles with a maximum mean absolute error (MAE) of 3.81%. The results also showed that the VI technique enhanced the cooling COP by up to 28% when operating at 51.7°C and up to 34% during the hottest month in Kuwait (July) compared to the conventional cooling cycle. The empirical correlations were also applied to other Gulf Cooperation Council (GCC) countries to examine the impact of ambient humidity on cooling COP, with predicted increases ranging from 13.5% to 21.2%. Further experimental studies are recommended to fully evaluate the cooling impact of the VI system in GCC countries. [ABSTRACT FROM AUTHOR]

Despite the growth in corporate environmental disclosure (CED) across the world, there remains considerable heterogeneity in the extent to which firms disclose their environmental impacts. To better understand these changes and variations, we identify possible macro‐level determinants of CED. Drawing on institutional theory, we examine the influence of country‐level governance (CLG) upon CED amongst the non‐financial sectors in Gulf Cooperation Council (GCC) countries. Descriptive findings obtained using a cross‐country sample of 500 firm‐year observations suggest that CED is still in its infancy in the region. Nevertheless, the data confirm an increasing trend in environmental information published in GCC companies' annual reports, but with notable differences between countries. Using measures derived from the World Governance Index (WGI), we examine the extent to which three CLG factors – voice and accountability (VA), government effectiveness (GE) and control of corruption (CC) – explain the patterns observed. We employ a panel data approach with various robustness checks and find that the association of VA with CED is insignificant or significantly positive, depending on the statistical method used, whereas GE is positively related to CED, and CC is – contrary to our expectation – negatively associated with CED. Our study contributes to the literature by providing a picture of CED in the GCC region and adding to the understanding of macro‐level determinants of CED. Suggestions for future research and for policy and practice are also provided. [ABSTRACT FROM AUTHOR]

The COVID‐19 pandemic has triggered unprecedented societal disruption and disproportionately affected global mobility dynamics. Within such a troubled and intensifying crisis, the intersection of migration and gender is even more unsettling. Since the pandemic outbreak, Bangladesh witnessed a colossal crisis among millions of Bangladeshi migrants working overseas—a considerable section of them are women. By highlighting the plight of the Bangladeshi women migrants in the Gulf Cooperation Council (GCC) countries, this study expands the emerging literature that addresses the nexus among migration, pandemic fallout and gendered labour. Redrawing our understanding of globalization from below, the study attempts to further advance the theoretical perspectives on the predicaments of globalization and gendered precarity in contract labour migration. The study argues that the focus on the power asymmetry between the host and sending countries remains too limited to provide a comprehensive understanding of how inequalities are reproduced and transformed. Instead, it suggests that the challenges and disadvantages women migrants endure are embedded in the asymmetries of deep‐rooted economic and social structures in tandem with the systemic practice of otherness and exclusion. [ABSTRACT FROM AUTHOR]

Contract substitution—in which workers sign one contract but end up working under another—is a common form of fraud faced by Indian low‐wage migrant workers working in the Gulf Cooperation Council states. This paper presents a study of workers' experiences of contract substitution alongside the eMigrate system, which is a digital registration system introduced by the Indian government in 2015. While a stated aim of eMigrate is to protect workers from contract fraud, these practices persist. We explore the colonial genealogies of eMigrate to show that not only has it adapted repertoires of worker protection inherited from the British Empire's indenture system, but that eMigrate risks facilitating conditions of unfreedom under the mantle of worker protection, much as the British imperial state did during indenture. We contend that recognising how legacies of indentured labour regulation persist through eMigrate has implications for contemporary campaigns for migrant justice. [ABSTRACT FROM AUTHOR]

We draw upon the broader theoretical framework of rent‐seeking to empirically analyze the impact of corruption on the efficiency of the banking industry in the Gulf Cooperation Council. We have used various databases, including Bankscope, World Bank, and Transparency International, to gather Bank‐specific and macro‐economic data for 77 banks covering the period 2005–2014. We perform ordinary least square (OLS) and generalised methods of moments regression (GMM) using a balanced panel and find (1) Islamic banks as less efficient and stable as compared to conventional banks in the GCC region, (2) corruption has a negative (positive) impact on Islamic (conventional) banks' stability. Our findings provide support for the 'sand the wheel' hypothesis of corruption for Islamic banks. This finding supports the view that under the current weak governance structures and complex policy framework, corruption acts as an 'escape hatch' for conventional banks. Our empirical findings could pave the way for further policy reform for the banking sector in the GCC region. [ABSTRACT FROM AUTHOR]

This paper focuses on immigration control in the Gulf Cooperation Council countries from a theoretical perspective. Gulf countries have massively relied on labor imports from the wider Arab world and South Asia, as the nationals' populations were too small to fill the growing need to expand infrastructure and development projects. Relying on a common agency model of lobbying adapted to an autocratic setting, it analyzes the setting of an immigration policy as a political compromise pressured by a multinational firm established in the host country and national citizens. Its main theoretical result is counterintuitive and highlights that, although Gulf countries' nationals value a tighter control on immigration to preserve a social capital that is perceived to be threaten by unlimited inflows of foreign migrants, the level of immigration control is lower than its socially optimal value. The impact of immigration control on the wages of unskilled workers is a key component of the model. This theoretical modeling helps to understand the limited effectiveness of the "Kafala" reforms implemented during the 2000s and beyond, as well as their inability to curb large‐scale migrations to the Gulf countries' economies. [ABSTRACT FROM AUTHOR]

This study examined the relationship between compulsory new ways of working (flexible work design, workplace design at home, advanced information and communication technology [ICT]‐based communications and culture of innovation) and faculty members' innovative work behaviour. The mediating role of work–life balance and employees' satisfaction with new ways of working in the relationship between new ways of working and innovative work behaviour was also examined. Building on established measurement scales, a questionnaire‐based deductive approach was used to collect data. In total, 457 faculty members were randomly selected from universities in countries in the Gulf Cooperation Council. New ways of work and innovative work behaviour were confirmed as multidimensional concepts. The study participants were clustered in three profiles according to their level of perception of the research variables. New ways of working practices apart from advanced ITC‐based communications were significantly positively related to innovative work behaviour, and work–life balance was significantly positively related to satisfaction. Satisfaction with new ways of working and work–life balance is a vital mechanism of innovative work behaviour, and satisfaction mediates work–life balance and innovative work behaviour. Our research theoretically extends understanding of the compulsory new ways of working and innovative work behaviour in higher education institutions. It provides insights into how new ways of working affect innovative behaviour via two mediating mechanisms: work–life balance and satisfaction. This contingent perspective has not yet been explored in prior studies. Educational policy and decision makers can benefit from the results of this study by reorganizing their work activities according to faculty members' need to foster innovative educational solutions. [ABSTRACT FROM AUTHOR]

This paper investigates the effects of the COVID-19 crisis on the performance of 49 listed banks in the Gulf Cooperation Council (GCC) countries, during the period from the first quarter of 2017 through the third quarter of 2020. The findings reveal that GCC banks were negatively affected by the pandemic. However, Islamic banks have performed better than conventional banks. The results also show that the banks in Saudi Arabia and UAE were affected more than the banks in other GCC countries. We also show that Islamic banks which are government-linked, those that are large and those with high loan ratios were more affected by the pandemic. Overall, we argue that Islamic banks can play a significant role in the recovery of GCC countries from the consequences of the pandemic. [ABSTRACT FROM AUTHOR]

This study uses quarterly time series data to investigate the relationship between oil and gold prices, and the financial stability of Islamic banks operating in the Gulf Cooperation Council countries for the period of 2005Q1 to 2018Q1. For this purpose, first it uses Johansen cointegration and VECM methodologies, and then it employs the newly‐developed Bayer–Hanck, Gregory–Hansen, Toda–Yamamato, and DOLS methodologies to test the robustness of the findings. Results reveal a cointegrating relationship and equilibrium‐correcting mechanism between the two commodities prices and the bank stability. Both commodities prices have positive effects on bank stability in the short run. However, oil price has a positive effect in the long run, while gold price has a negative effect in the long run. The causality results confirm unidirectional causality from oil and gold prices to bank stability in the short run, and oil price to bank stability in the long run. [ABSTRACT FROM AUTHOR]

While the Gulf Cooperation Council (GCC) countries are not alone in their increasing exposure to the negative side effects of greater digital dependency, their status as technological leaders—not just in the region, but also in the world—means that they are vulnerable to a variety of cybersecurity threats. This article examines the trajectory of cybersecurity in the GCC states, exploring the main threats, the role of the GCC states in regional and international governance mechanisms, and the tensions between steps to achieve a more secure digital space on the one hand, and the privacy and human‐rights risks of widespread surveillance on the other. The article argues that cybersecurity in the GCC follows a clear trajectory: beginning with economic drivers for securing a digital economy, cybersecurity organizations and policies then become entangled in geopolitical controversies, from the sale of surveillance technologies to superpower rivalry over AI and 5G communications. [ABSTRACT FROM AUTHOR]

Coronavirus disease 2019 (COVID-19) is still a great pandemic presently spreading all around the world. In Gulf Cooperation Council (GCC) countries, there were 1015269 COVID-19 confirmed cases, 969424 recovery cases, and 9328 deaths as of 30 Nov. 2020. This paper, therefore, subjected the daily reported COVID-19 cases of these three variables to some statistical models including classical ARIMA, kth SMA-ARIMA, kth WMA-ARIMA, and kth EWMA-ARIMA to study the trend and to provide the long-term forecasting of the confirmed, recovery, and death cases of the novel COVID-19 pandemic in the GCC countries. The data analyzed in this study covered the period starting from the first case of coronavirus reported in each GCC country to Jan 31, 2021. To compute the best parameter estimates, each model was fitted for 90% of the available data in each country, which is called the in-sample forecast or training data, and the remaining 10% was used for the out-of-sample forecast or testing data. The AIC was applied to the training data as a criterion method to select the best model. Furthermore, the statistical measure RMSE and MAPE were utilized for testing data, and the model with the minimum RMSE and MAPE was selected for future forecasting. The main finding, in general, is that the two models WMA-ARIMA and EWMA-ARIMA, besides the cubic and 4th degree polynomial regression, have given better results for in-sample and out-of-sample forecasts than the classical ARIMA models in fitting the confirmed and recovery cases while SMA-ARIMA and WMA-ARIMA were suitable to model the recovery and death cases in the GCC countries. [ABSTRACT FROM AUTHOR]

This paper investigates the nexus between stability and competition in the banking sector of the Gulf Cooperation Council. We examined a sample of 75 banks over the period 2006–2016. We found a U‐shaped relationship between bank stability and competition suggesting competition‐stability and competition‐fragility nexus. Banking concentration was found to affect instability negatively, which supported the "too important to be bailed out" view. Furthermore, we found that Islamic banks were less stable compared to conventional banks. We also found that bank size, profitability and capital regulation increase bank stability. In addition, the stock market return and the level of debt‐to‐GDP increase instability while the growth in oil price increase stability. Our findings are relevant to regulators to impose or release restrictions that boost financial stability. [ABSTRACT FROM AUTHOR]

Beyond the suffering of the affected subjects, type 2 diabetes (T2D) and obesity epidemics gripping the Gulf Cooperation Council (GCC) states are expected to seriously jeopardize these nations' economies and development due to productivity losses. Available data show that healthcare budgets in GCC nations are under tremendous pressure because of diabetes- and obesity-linked comorbidities. Furthermore, T2D, once an over-forties disease, risks becoming a whole-adult-life condition because of obesity-associated early-onset T2D and prediabetes. The incidence of T2D is set to worsen unless efficient actions are taken to fight obesity and prevent the conversion of prediabetes to T2D. There is a consensus that the concomitant increase in obesity rates drives T2D rates upward. Fighting obesity at all levels should, therefore, take center stage for the GCC nations. The battle against obesity and T2D is a long-term and complex one. Therefore, only through concerted efforts between several public and private actors, including health, economic, and urbanization agencies, food producers and retailers, schools, families, youth organizations, sports clubs, and voluntary organizations, can this battle be won. The present review tries to assess the current status of diabetes and obesity epidemics in the GCC context and take stock of some of the policies and initiatives that have been, or need to be, implemented to address their growing burden. [ABSTRACT FROM AUTHOR]

The longevity and depth of regional challenges in the Middle East have elevated political and security concerns to a new level within the Gulf Cooperation Council (GCC) in recent years. Three conflicting worldviews have confronted one another, resulting in debilitating consequences for the region. Increasing fragmentation of Arab politics, in turn, has engendered attempts at enforced Arab unity that have ultimately failed, further dividing and destabilizing the regional order. This article delineates the background of the Gulf crisis of 2017 within the broader context of the Arab Spring and analyzes the ensuing attempts at mediation, the US role in the region, political developments in Kuwait and Oman, normalization efforts with Israel, and the recent resolution of the Gulf crisis by examining various actors' political roles. [ABSTRACT FROM AUTHOR]

This study aims to explore how state–business relations in the Gulf Cooperation Council (GCC) have been developing following the fall in oil prices in 2014 and the subsequent increased pressure to implement economic reforms. The main argument is that due to a combination of factors, the positions of the established business community vis‐à‐vis the ruling powers in those countries have become weaker. The factors are: 1) economic pressure and necessity to reform since the 2014 decline in oil prices; 2) the generational shift and subsequent centralizing tendencies in the ruling circles in some of the states; and 3) increased geopolitical rivalry and antagonism between the GCC members, including intensified competition for foreign investment and external political support. Meanwhile the governments have acquired more control over commercial activities that used to be the realm of the business elite. Although these changes are happening to a varying extent and at a different pace in each GCC country, the trend is recognizable in all six. [ABSTRACT FROM AUTHOR]

This study examines the sources of fatigue in the economic integration of the Gulf Cooperation Council (GCC) since 2010. It argues that the progressive development of integration that has taken place in the decades prior to the 2011 Arab uprisings has been derailed by a number of congenital and emerging factors that decelerated its maturity. The study employs a descriptive analytical approach to examine the institutional deficiencies, foreign policy divergence, and domestic policy integration, while applying a gravity model to measure the intensity of intra‐regional trade, hence the depth of GCC integration. If the GCC is to deepen its integration process, it must address longstanding and emerging challenges, including national sovereignty, poor foreign and security policy coordination, and low intra‐regional trade that persist today. [ABSTRACT FROM AUTHOR]

The Gulf Cooperation Council (GCC) states can be divided into two main camps in terms of hydrocarbon endowment per capita which can partially account for differences in policy directions. Kuwait, Qatar, and the UAE (the rich triplet) have small populations while having large hydrocarbon (oil and natural gas) endowments compared to Bahrain, Oman, and Saudi Arabia. Kuwait, Qatar, and the UAE have been effectively using their excess wealth in the form of investment for domestic economic diversification and overseas investments through their sovereign wealth funds (SWFs). Therefore, the rich triplet perceives the upcoming threat of decarbonization of the world's energy system lighter than the remaining members of the GCC in view of their prosperity. The expected decrease in oil demand and revenue within the next decade will put further strain on the relationship between these states. [ABSTRACT FROM AUTHOR]

Several studies have found a relationship between corporate social and environmental disclosure and firm value (FV) or accounting profitability. Where environmental disclosure has been the focus, though, only single‐country studies have been published, and most of the previous research concerns the developed world. This study examines the association between corporate environmental disclosure (CED) and FV in the Gulf Cooperation Council (GCC) countries, where CED has been increasing from its previous low base. Findings from a multicountry sample of 500 firm‐year observations using a 55‐item unweighted environmental disclosure index suggest that CED is significantly and positively related to FV as measured by Tobin's Q (TBQ). The relationship is robust to using a weighted version of the disclosure index, individual countries and environmental disclosure subindices. Some evidence of a positive relationship between CED and return on assets is also found, but even where statistically significant, the relationship is much weaker than in the case of TBQ. For empirical and theoretical reasons, we recommend that future studies pay greater attention to market‐based proxies, if possible, when investigating the value relevance of CED in both developed and developing countries. Our results suggest that both managers and policymakers in GCC countries should take a positive view of expanded CED. [ABSTRACT FROM AUTHOR]

This note investigates the effects of the recent political tensions in the Arabian peninsula on the linkages between the stock markets of the leading Gulf Cooperation Council countries by estimating a VAR‐GARCH(1,1) model at a weekly frequency. The results indicate that the June 2017 crisis lowered stock market returns and generally led to greater volatility spillovers within the region. This evidence supports the need for further financial integration and suggests fewer portfolio diversification opportunities for investors in the Gulf Cooperation Council region. [ABSTRACT FROM AUTHOR]

Objective: This study first contextualizes and then examines the innovation initiatives currently being undertaken by the states of the Gulf Cooperation Council (GCC). Methods: The data presented are a qualitative analysis based on government planning documents from GCC members, which is followed by an assessment of innovation in the GCC using a composite index (Global Innovation Index) and an individual indicator. Results: The pathways toward innovation in the GCC are traced at local policy‐making levels, but giving meaning to the quantification of these efforts and their results is confounded by the fact that innovation can be an inexact concept with imprecise measurements. Conclusion: This overview of innovation in the GCC shows how it is being conceptualized and executed as statecraft; however, innovation might be better gauged for the GCC if indigenous socioeconomic conditions—like the welfare models and disproportionate public and service sectors—can be taken into account. [ABSTRACT FROM AUTHOR]

The article analyzes Kuwaiti foreign policy toward the Gulf crisis that emerged on June 5, 2017 which was caused by the unprecedented break in the Gulf Cooperation Council. Topics discussed include the decision of the Kuwaiti government not to join Saudi Arabia, the United Arab Emirates, Bahrain and Egypt to boycott Qatar, the use of the policy of neutrality by some small states to secure their survival, and an overview of the Kuwaiti political system.

The article analyzes data collected from a survey aimed at having a better understanding of how young people from the six Gulf Cooperation Council countries feel about culture, identity, and society. Topics discussed include the importance of reputation among the younger generation in the region, characteristics of Qataris, Emiratis, and Kuwaitis, and economy, demographics and resources.

We investigate the association between voluntary formation of board investment committee (IC) and corporate cash holdings of nonfinancial firms over the corporate life cycle stages for a large sample of Gulf Cooperation Council firms during 2005–2016. We find that IC increases corporate cash holdings in growth and maturity stages of firm, compared to introduction, shake‐out, and decline stages. These results have important implications for investors, policy makers, and regulators. Our findings are robust to various econometrics specifications. [ABSTRACT FROM AUTHOR]

The article explores Iran's piecemeal approach to addressing threats and regional dynamics in the Middle East. Topics discussed include Iran's influence in countries beset by conflicts such as Syria, Lebanon, and Iraq, Iran's relations with Gulf Cooperation Council states including Saudi Arabia and the United Arab Emirates, and Iran's use of its revolutionary fervor in influencing the region's disenfranchised communities.

The article offers information on the Islamic banking in Oman. Topics discussed include Oman's moderate attitudes, Islamic banking had not previously been allowed in the country; Oman was the only country in the Gulf Cooperation Council (GCC), and the only country in the world with a Muslim majority, that did not allow Islamic banking; and the demands of the protesters centered on concerns that particularly troubled the large youth population of Oman.

Remittances to low and middle-income countries (LMICs) increased by an estimated 3.8% in 2023, although this growth was slower than in previous years. The United States remains the largest source of remittances, and the top five recipient countries are India, Mexico, China, the Philippines, and Egypt. Remittance inflows represent a significant share of GDP in countries such as Tajikistan, Tonga, Samoa, Lebanon, and Nicaragua. However, the World Bank warns of potential risks to remittance flows, including global inflation, low growth prospects, volatile oil prices, and currency exchange rates. Remittance costs remain high, with banks being the most expensive channel for sending money. The World Bank suggests leveraging remittances for private capital mobilization and using future remittance inflows as collateral to lower borrowing costs for developing countries. Remittance flows to the Middle East and North Africa are expected to decline, while flows to Sub-Saharan Africa are projected to increase. [Extracted from the article]

This paper empirically determines the drivers of functional diversification decision for 365 banks set in selected Middle East and North Africa (MENA) countries over 1988–2015. For this purpose, we use a dynamic nonlinear panel data model. Our findings reveal that both market share and financial intermediation stratify the diversification decision for the whole MENA sample. Splitting the sample shows that the risk‐adjusted profitability and the loan loss provision ratio exert a major influence over the diversification indicator for Gulf Cooperation Council (GCC) banks, whereas the net interest margin ratio, the bank market share, and financial intermediation are the major drivers of the strategic decision for the remaining non‐GCC banks. [ABSTRACT FROM AUTHOR]

This article evaluates the association between remittance outflow (RMO) and economic growth in the Gulf Cooperation Council (GCC) countries. The results of this evaluation indicate that RMO Granger creates gross domestic product (GDP) per capita in three countries, namely, Bahrain, Oman and Saudi Arabia. Similarly, the results for causality from GDP per capita to RMO are significant for four countries, namely, Bahrain, Kuwait, Qatar, and Saudi Arabia. The findings differ from those of the household consumption model, stating that higher RMO will decrease economic activity. GDP per capita is the main determinant of RMO, suggesting that economic growth promises and encourages continuous RMO and vice versa. The adverse impact of RMO can be minimized by encouraging the local population to be productive in the private sector, as local productivity will reduce the huge influx of foreign workers and provide valuable local investment opportunities to lessen the amount being remitted. [ABSTRACT FROM AUTHOR]

This article will explore the arrangement of and relations between states inside ROs as they move from conflict to negotiation, as well as the different types of negotiations that they choose – bilateral, mediated, multiparty, or hybrid. In doing so, it will illuminate the opportunities that exist at the regional level to develop inclusive regional frameworks for mediation and negotiation and, in the right circumstances, effective security communities. Broadly defined, a security community exists when sovereign states can overcome a lack of mutual trust and difficult regional environments to develop new forms of cooperative security that prioritize self‐restraint and the peaceful resolution of differences and reduce the expectation of the need to resort to organized violence to settle interstate disputes (Adler and Barnett, 1988; Adler and Greve, 2009). Policymakers in major external powers like China and the United States should support proposals, like the Qatari one, to restore stability in a high‐stakes region at the center of the international security and financial systems. [ABSTRACT FROM AUTHOR]

This article discusses earnings differentials among skilled Western, Arab and Asian migrants, who constitute most of the private sector labour force in Gulf Cooperation Council (GCC) countries, during the period 2012-14. Using two standard decomposition methodologies, it investigates the view that Westerners are paid premium rates due to the unobserved perceptions of private employers. The results indicate that while one-third to three-quarters of real hourly earnings differentials are attributable to differing observed levels of productivity-related characteristics, the remainder are due to the incorporation of higher opportunity costs for Westerners into the bargaining process. The potential effect of unobserved perceptions is found to be irrelevant to observed earnings differentials. [ABSTRACT FROM AUTHOR]

There have been considerable public debates surrounding the efficiency of Saudi higher education institutions, specifically after Vision 2030. We explore the efficiency of institutions of higher learning in Saudi Arabia. Panel data from 61 higher education institutions are employed for the academic years 2008–2014 to estimate efficiency scores. Also, second stage regression analysis was employed to identify the main determinants of efficiency scores. We conclude that despite exponential growth in government funding for the higher education sector, technical efficiencies remained almost stagnant over the study period along with a persistence of inefficiencies. Second stage regression results confirm that institution ownership itself does not have a significant effect on efficiency scores. However, being a university and acquiring more than 20 years of experience have a positive impact on efficiency scores. An increase in both lower secondary completion rates and percentage of female students in secondary general education increases efficiencies, whereas higher employment to population ratio and increasing female academic staff ratio in tertiary education reduces institutional efficiencies. [ABSTRACT FROM AUTHOR]

The article discusses relations between Iraq and Gulf Cooperation Council (GCC) member states by referring to investments made by Tehran, Iran, in Iraqi Shiite administration and Iraq's history. Topics discussed include the Sykes-Picot Agreement, Iraq's major political groups such as the Shia and the Kurds, the creation of the Shia Popular Mobilization Forces by Qods Force, a special branch of Iranian Islamic Revolutionary Guard Corps, Iran's relationship with the Kurds, and Iran's security.

The article discusses the challenges being faced in Iraqi and Arab Gulf relations by referring to historical, social and geopolitical factors. Topics discussed include the impact of the election of Iraq Prime Minister Haider al-Abadi in September 2014 on Iraqi‐Gulf relations, three main political components such as Shiites, Sunnis, and Kurds in Iraq, the establishment of the Gulf Cooperation Council, and the Iraqi invasion of Kuwait.

We investigate the association between the existence of risk committee and implied cost of equity capital in a unique institutional setting where the formation of the board risk committee as part of the risk governance mechanism is not mandatory in the Gulf Cooperation Council (GCC) financial institutions. Using data from the six GCC countries, we find that implied cost of equity capital is negatively associated with the existence of board risk committee. These findings indicate that GCC financial firms with better risk governance practices at board level have lower implied cost of equity capital. We contribute to the extant literature on‐board risk governance in emerging market context. [ABSTRACT FROM AUTHOR]

The article focuses on role of Gulf Cooperation Council (GCC) in promoting a better understanding of the complexity of decision making in the Gulf. It is mentioned that the rise in prominence of individual Gulf states like Kuwait, Qatar, Saudi Arabia and the United Arab Emirates and the growth of the GCC as a collective entity. The article also discusses the lack of the attention paid to the actual mechanics of policy-making in the region.