VOL. XXXVIII

NO. 29

17-APRIL-1995

Financial and Banking News

Financial Policy

Financial Policy In The Gulf: Revolution Or Rearguard Action?

The economies of the Gulf states are passing through a period of change morefundamental than any since the first oil shock of 1973-74. That first infusionof oil wealth hurled the Gulf economies into the global industrial system andendowed them with a modern infrastructure. The policies and expectations createdin the mid-1970s were recharged in the early 1980s...