Speculative industries exploit novel technologies subject to two risks. First, there is uncertainty about the fundamental value of the innovation: is it strong or fragile? Second, it is difficult to monitor managers, which creates moral hazard. Because of moral hazard, managers earn agency rents...

This dissertation focuses on three empirical research questions regarding economic integration among the GCC countries. Chapter 2 presents the first essay, which addresses the impact of the GCC economic agreements on intra-GCC trade, non-oil trade in particular as little is known about the scope...