Amer Al-Roubaie, Ahlia University, Bahrain
Abdulwahab Al-Ameen, University of Bahrain, Bahrain
Purpose: Knowledge creation, technology transfer and information dissemination have been widely discussed in the literature of development studies as important drivers for rapid economic growth and sustainable development. In the new economy, access to global markets has become essential for supporting development. International trade stimulates economic growth by providing new opportunities for countries to acquire knowledge, information and skills for development.
Design/methodology/approach: This paper uses data extracted from international institutions to analyse the state of development in the GCC countries. The relationship between trade and economic growth has been widely discussed in the literature, reflecting the importance of trade for global access to knowledge, skills and technology.
Findings: This paper highlights the potential of developing countries in general, and of those in the Arab world in particular, to participate in the new economy and the economic benefits that would accrue from such participation. Specifically, the paper sheds some light on the prospects of building knowledge capacity for development in GCC countries.
Originality/value: This paper uses secondary data published by international institutions to highlight the challenges facing GCC countries in their drive to promote change through knowledge creation and global integration.
Keywords: sustainable development; trade; institutions; knowledge; innovation; GCC countries.