Rentier political economy in the oil monarchies

Within the contemporary Persian Gulf, rentier state theory (RST) forms the dominant framework through which political economy is interpreted, particularly in the oil- and gas-rich Arab monarchies (hereafter Gulf oil monarchies).1 This chapter explores the evolution of the literature on RST, from its early stages as a rejection of resource-driven development strategies forwarded in the mid-twentieth century, to more recent incarnations that seek to explain contemporary events in resource-rich states. “Rentierism,” as defined here, refers to the influence of rents, or the process through which rent-derived wealth influences political, social, and economic outcomes (note that it does not include preconditions as to what these outcomes are, as they have changed as the literature on RST has developed over time). The aim of the chapter is conceptual, to evaluate the utility of RST as an explanation of contemporary political economy in the Gulf oil monarchies, and to highlight where the literature might need to go next. Drawing on primary research conducted in Qatar, Bahrain, Oman, and Saudi Arabia, as well as a review of recent theoretical research, it suggests four core revisions to our current conception of rentierism.