Brunei Darussalam’s Economic Transition in a Shifting Global Asia

This is an Open Access book. The international political economy is confronted by a number of overlapping crises. These include the climate emergency, rapid technological advancement, the high volume of globalised trade and financial flows, cross-border labour movement, rising inequality, geopolitic...

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collection Directory of Open Access Books
description This is an Open Access book. The international political economy is confronted by a number of overlapping crises. These include the climate emergency, rapid technological advancement, the high volume of globalised trade and financial flows, cross-border labour movement, rising inequality, geopolitical tensions, and frequent economic crises and natural disasters. Many developing countries are going through a period of urgent transformation and transition to adopt new policies to cope with such challenges and achieve and maintain sustainable and inclusive socioeconomic development. This path-breaking volume explores the issues shaping the response of Brunei Darussalam, long dependent on its oil and gas sector, to these challenges. The discussions presented here are framed by the notion of ‘development in transition’—a mix of well-designed policies driven by timely implementation, enforcement and monitoring, as well as international cooperation to ensure sustainable development and distribution of benefits on an equitable basis. Through fine-grained analyses of key economic sectors—including natural resources, employment patterns, financial services, global value chains, international trade, tourism and the role of the public sector—the contributors offer a critical assessment of Brunei’s policy responses. This transitional policy mix is situated in relation to the overarching development strategy called Wawasan Brunei 2035 (Brunei Vision 2035), which broadly maps onto the United Nations 2030 Agenda for Sustainable Development Goals. Academic scholars, university students and others interested in the study of contemporary Brunei and broader questions of economic transition in Asia will find this volume an invaluable resource for a deeper understanding of how development paths and priorities are being managed to meet pressing global and local challenges. ; This Open Access edited collection is the first volume dedicated to the economic development of Brunei Darussalam since 1994. It brings together contributions from Bruneian researchers, locally and internationally, to confront current issues related to the economy of Brunei. It traces its journey from an exclusively oil-producing country to a more diversified economy. The work posits that being resource-rich is not always a curse, although it does present numerous obstacles that need to be overcome in order to build a private sector in which new manufacturing and services activities can flourish. The book examines the benefits of trade and regional integration for economic development, and the importance of financial deepening. It shows that the banking sector can play a better role in financial intermediation to finance economic diversification, and emphasises the necessity to create a capital market to mitigate risks. It looks at long-term demographic trends in Brunei, such as the rise of a young and more educated labour force, the access of women to work, and the contribution of migrant workers to growth. It addresses some of the challenges that the economy of Brunei will have to solve. The book does not purport to provide definitive answers, but it unpacks potential solutions. Of interest to researchers focused on Brunei, its society, and economy, this exciting collection is also relevant to scholars studying other resource-rich countries and related social and economic developments.
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spelling doab-20.500.12854ir-1513352025-07-21T15:44:30Z Brunei Darussalam’s Economic Transition in a Shifting Global Asia Khalid, Ahmed M. Jetin, Bruno Economy of Brunei Darussalam ASEAN Borneo Employment Oil and Gas Rentier State Resources Finance and Islamic Finance New Management of Public Sector Leadership Financial and Trade Integration thema EDItEUR::J Society and Social Sciences::JP Politics and government thema EDItEUR::K Economics, Finance, Business and Management::KC Economics thema EDItEUR::J Society and Social Sciences::JK Social services and welfare, criminology::JKS Social welfare and social services thema EDItEUR::K Economics, Finance, Business and Management::KN Industry and industrial studies::KNV Civil service and public sector thema EDItEUR::K Economics, Finance, Business and Management::KN Industry and industrial studies::KNB Energy industries and utilities thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCP Political economy thema EDItEUR::G Reference, Information and Interdisciplinary subjects::GT Interdisciplinary studies::GTP Development studies thema EDItEUR::J Society and Social Sciences::JP Politics and government thema EDItEUR::K Economics, Finance, Business and Management::KC Economics thema EDItEUR::J Society and Social Sciences::JK Social services and welfare, criminology::JKS Social welfare and social services thema EDItEUR::K Economics, Finance, Business and Management::KN Industry and industrial studies::KNV Civil service and public sector thema EDItEUR::K Economics, Finance, Business and Management::KN Industry and industrial studies::KNB Energy industries and utilities thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCP Political economy thema EDItEUR::G Reference, Information and Interdisciplinary subjects::GT Interdisciplinary studies::GTP Development studies This is an Open Access book. The international political economy is confronted by a number of overlapping crises. These include the climate emergency, rapid technological advancement, the high volume of globalised trade and financial flows, cross-border labour movement, rising inequality, geopolitical tensions, and frequent economic crises and natural disasters. Many developing countries are going through a period of urgent transformation and transition to adopt new policies to cope with such challenges and achieve and maintain sustainable and inclusive socioeconomic development. This path-breaking volume explores the issues shaping the response of Brunei Darussalam, long dependent on its oil and gas sector, to these challenges. The discussions presented here are framed by the notion of ‘development in transition’—a mix of well-designed policies driven by timely implementation, enforcement and monitoring, as well as international cooperation to ensure sustainable development and distribution of benefits on an equitable basis. Through fine-grained analyses of key economic sectors—including natural resources, employment patterns, financial services, global value chains, international trade, tourism and the role of the public sector—the contributors offer a critical assessment of Brunei’s policy responses. This transitional policy mix is situated in relation to the overarching development strategy called Wawasan Brunei 2035 (Brunei Vision 2035), which broadly maps onto the United Nations 2030 Agenda for Sustainable Development Goals. Academic scholars, university students and others interested in the study of contemporary Brunei and broader questions of economic transition in Asia will find this volume an invaluable resource for a deeper understanding of how development paths and priorities are being managed to meet pressing global and local challenges. ; This Open Access edited collection is the first volume dedicated to the economic development of Brunei Darussalam since 1994. It brings together contributions from Bruneian researchers, locally and internationally, to confront current issues related to the economy of Brunei. It traces its journey from an exclusively oil-producing country to a more diversified economy. The work posits that being resource-rich is not always a curse, although it does present numerous obstacles that need to be overcome in order to build a private sector in which new manufacturing and services activities can flourish. The book examines the benefits of trade and regional integration for economic development, and the importance of financial deepening. It shows that the banking sector can play a better role in financial intermediation to finance economic diversification, and emphasises the necessity to create a capital market to mitigate risks. It looks at long-term demographic trends in Brunei, such as the rise of a young and more educated labour force, the access of women to work, and the contribution of migrant workers to growth. It addresses some of the challenges that the economy of Brunei will have to solve. The book does not purport to provide definitive answers, but it unpacks potential solutions. Of interest to researchers focused on Brunei, its society, and economy, this exciting collection is also relevant to scholars studying other resource-rich countries and related social and economic developments. 2025-02-16T09:38:52Z 2025-02-16T09:38:52Z 2025-02-13T10:57:51Z 2025 book ONIX_20250213_9789819769261_37 https://library.oapen.org/handle/20.500.12657/98604 9789819769261 9789819769254 https://directory.doabooks.org/handle/20.500.12854/151335 eng Asia in Transition open access image/jpeg n/a https://library.oapen.org/bitstream/20.500.12657/98604/1/9789819769261.pdf Springer Nature Springer Nature Singapore 10.1007/978-981-97-6926-1 10.1007/978-981-97-6926-1 9fa3421d-f917-4153-b9ab-fc337c396b5a 70c16662-9c12-4b4b-a7c3-3bef45fb2f8e 9789819769261 9789819769254 Springer Nature Singapore 409 Singapore [...] open access
spellingShingle Economy of Brunei Darussalam
ASEAN
Borneo
Employment
Oil and Gas
Rentier State
Resources
Finance and Islamic Finance
New Management of Public Sector
Leadership
Financial and Trade Integration
thema EDItEUR::J Society and Social Sciences::JP Politics and government
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics
thema EDItEUR::J Society and Social Sciences::JK Social services and welfare, criminology::JKS Social welfare and social services
thema EDItEUR::K Economics, Finance, Business and Management::KN Industry and industrial studies::KNV Civil service and public sector
thema EDItEUR::K Economics, Finance, Business and Management::KN Industry and industrial studies::KNB Energy industries and utilities
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCP Political economy
thema EDItEUR::G Reference, Information and Interdisciplinary subjects::GT Interdisciplinary studies::GTP Development studies
thema EDItEUR::J Society and Social Sciences::JP Politics and government
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics
thema EDItEUR::J Society and Social Sciences::JK Social services and welfare, criminology::JKS Social welfare and social services
thema EDItEUR::K Economics, Finance, Business and Management::KN Industry and industrial studies::KNV Civil service and public sector
thema EDItEUR::K Economics, Finance, Business and Management::KN Industry and industrial studies::KNB Energy industries and utilities
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCP Political economy
thema EDItEUR::G Reference, Information and Interdisciplinary subjects::GT Interdisciplinary studies::GTP Development studies
Brunei Darussalam’s Economic Transition in a Shifting Global Asia
title Brunei Darussalam’s Economic Transition in a Shifting Global Asia
title_full Brunei Darussalam’s Economic Transition in a Shifting Global Asia
title_fullStr Brunei Darussalam’s Economic Transition in a Shifting Global Asia
title_full_unstemmed Brunei Darussalam’s Economic Transition in a Shifting Global Asia
title_short Brunei Darussalam’s Economic Transition in a Shifting Global Asia
title_sort brunei darussalam s economic transition in a shifting global asia
topic Economy of Brunei Darussalam
ASEAN
Borneo
Employment
Oil and Gas
Rentier State
Resources
Finance and Islamic Finance
New Management of Public Sector
Leadership
Financial and Trade Integration
thema EDItEUR::J Society and Social Sciences::JP Politics and government
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics
thema EDItEUR::J Society and Social Sciences::JK Social services and welfare, criminology::JKS Social welfare and social services
thema EDItEUR::K Economics, Finance, Business and Management::KN Industry and industrial studies::KNV Civil service and public sector
thema EDItEUR::K Economics, Finance, Business and Management::KN Industry and industrial studies::KNB Energy industries and utilities
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCP Political economy
thema EDItEUR::G Reference, Information and Interdisciplinary subjects::GT Interdisciplinary studies::GTP Development studies
thema EDItEUR::J Society and Social Sciences::JP Politics and government
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics
thema EDItEUR::J Society and Social Sciences::JK Social services and welfare, criminology::JKS Social welfare and social services
thema EDItEUR::K Economics, Finance, Business and Management::KN Industry and industrial studies::KNV Civil service and public sector
thema EDItEUR::K Economics, Finance, Business and Management::KN Industry and industrial studies::KNB Energy industries and utilities
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCP Political economy
thema EDItEUR::G Reference, Information and Interdisciplinary subjects::GT Interdisciplinary studies::GTP Development studies
topic_facet Economy of Brunei Darussalam
ASEAN
Borneo
Employment
Oil and Gas
Rentier State
Resources
Finance and Islamic Finance
New Management of Public Sector
Leadership
Financial and Trade Integration
thema EDItEUR::J Society and Social Sciences::JP Politics and government
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics
thema EDItEUR::J Society and Social Sciences::JK Social services and welfare, criminology::JKS Social welfare and social services
thema EDItEUR::K Economics, Finance, Business and Management::KN Industry and industrial studies::KNV Civil service and public sector
thema EDItEUR::K Economics, Finance, Business and Management::KN Industry and industrial studies::KNB Energy industries and utilities
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCP Political economy
thema EDItEUR::G Reference, Information and Interdisciplinary subjects::GT Interdisciplinary studies::GTP Development studies
thema EDItEUR::J Society and Social Sciences::JP Politics and government
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics
thema EDItEUR::J Society and Social Sciences::JK Social services and welfare, criminology::JKS Social welfare and social services
thema EDItEUR::K Economics, Finance, Business and Management::KN Industry and industrial studies::KNV Civil service and public sector
thema EDItEUR::K Economics, Finance, Business and Management::KN Industry and industrial studies::KNB Energy industries and utilities
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCP Political economy
thema EDItEUR::G Reference, Information and Interdisciplinary subjects::GT Interdisciplinary studies::GTP Development studies
url ONIX_20250213_9789819769261_37