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The Changing Security Dynamics  of the Persian Gulf$
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Kristian Coates Ulrichsen

Print publication date: 2018

Print ISBN-13: 9780190877385

Published to Oxford Scholarship Online: February 2019

DOI: 10.1093/oso/9780190877385.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 26 September 2021

Towards the End of the Oligarchic Pact?

Towards the End of the Oligarchic Pact?

Business and Politics in Abu Dhabi, Bahrain, and Oman

(p.77) 5 Towards the End of the Oligarchic Pact?
The Changing Security Dynamics of the Persian Gulf

Marc Valeri

Oxford University Press

This chapter analyzes the “oligarchic pact” and the relationship between political and business actors in Abu Dhabi, Bahrain, and Oman. Marc Valeri examines how state-business relations in these three case-studies have evolved as ruling families have become more involved in business and the private sector. This, Valeri argues, signifies an important shift away from the initial relationship between ruling and business elites that developed after the influx of large-scale oil revenues in the 1960s. The “unprecedented intrusion of ruling family members in the private sector” over recent years is likely to have implications for the social contract between ruler and ruled and, by extension, for domestic stability as the traditional ‘rentier bargain’ breaks down. Valeri draws out common themes from the study of three very different political economies and the nature and impact of the structural shift in the relationship between ruling and business elites in favor of the former.

Keywords:   Oligarchic pact, State-business relations, Social contract, Rentier bargain, Private sector

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