Kuwait is a typical example of an oil‐based economy. The oil sector contributes over one‐third of GDP and over 90 per cent of exports. Economic diversification for Kuwait means reducing the heavy dependency on the oil sector. It also implicitly includes reducing the direct role of the public...

The purpose of this study is to assess the operational efficiency of Arab stock markets during the past decade in order to anticipate their ability to compete in the future. The study provides estimates of the operational efficiency of Arab capital markets by analyzing how well they use all the...