Human Capital Development in the UAE: Analysis of the Budgetary Conflicts in an Era of Austerity
Abstract
This paper examines the manner in which the government of
the UAE adjusted to declines in oil revenues in the mid- to late
1980s. Specifically, was the government able to support the
continuation of investment in human capital that began after the oil
price increases of 1973/74? In this regard, what were the main
budgetary tradeoffs associated with educational expenditures? Did
the country's high levels of defense expenditure significantly
diverted funds from human capital development? Did the funding,
for education suffer in proportionate to other major expenditure
items during the current period of relatively slack oil revenues?
Based on the answers to these questions, several conclusions are
drawn concerning the ability of the country to reduce its
dependence on foreign workers.
Description
Public Budgeting and Financial Management, vol. 5, no. 3, 1993.
Refereed Journal Article