Technology transfer and sustainable development in the Gulf region

This paper examines the role of technology transfer in sustaining development in the Gulf countries of the Arabian Peninsula. Due to labour market constraints, these countries could employ capital intensive methods to increase productivity and enhance growth. Experience of some Asian countries in recent years has shown that technology transfer helps frogleaping by accelerating economic growth and advancing industrialization. To this end, the Gulf countries must allocate greater share of their financial resources to broaden the knowledge-base of their economies by investing in human capital development as well as in information technology. Modern techniques in production increase the economy’s ability to sustain development by helping nations making better use of indigenous recourses.

Keywords: Arabs; Oil; Knowledge; Technology; Sustainable Development; Globalization.