Paper Sample on Bahrain's Oil Dependency

Introduction

This study aims to give a holistic analysis of how Bahrain can improve its economy by depoliticizing and regulating its oil sector. In this respect, the study will seek to assess the following variables; government regulations, national politics, oil production, and resource distribution.

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The researcher will first conduct a literature review to investigate the Bahraini oil sector's current practices regarding this sector's policies and political issues. Besides, the literature review will help to identify gaps that have not been researched before. Therefore, by filling the information gaps identified in the literature review, the researcher will develop a comprehensive study. Secondly, the researcher will seek to understand the effects of current regulations on the Bahraini oil sector using the existing data and secondary sources. Thirdly, the researcher will compare the current political and oil regulatory situations in Bahrain with states managing their oil revenue better, such as the United Arab Emirates and Oman. Lastly, the researcher will seek to find out various opportunities that the Bahraini government can utilize to ensure that the current situation improves through primary and secondary data. To make use of the data collected, the researcher plans on using both econometrics and machine learning methodologies to establish the extent to which the recommended adjustments can help the country. From this data, the researcher will be able to come up with a comprehensive conclusion on the subject of research.

Research Methodology and Data

The study will collect both qualitative and quantitative data to explore more dynamics in the oil industry. The non-numerical responses will focus on understanding the non-qualitative measures of the course. The researcher will use various models to determine several variables such as;

Economic Value of Oil

To get the economic value of the uses of oil in Bahrain the study will use the model developed by Freeman et al. (2014)

V = V (X {q [G, R(G)], Y[G, R(G)]}).

In this case, V represents the money value of the services based on oil production. The association between V = V(X) embraces the government's value to promote economic welfare. The assumption is that the value function is an aggregation of personal significance. However, in the long run, V(X) can also include the social welfare weights that reflect some social equity goals. Also, V(X) can be used to incorporate various elements of environmental ethics that are associated with oil production.

G dynamics' marginal value can be established by using the total derivate of the former equation to reflect the unprecedented changes in R and Y (where Y are the inputs used for production) to the social intervention. The benefits derived from a nonmagical variation in policy intervention that increases Y will be assessed as:

B≡V=V XgG1, R G1, YG1, R G1-V{gG0, R G0, YG0R G0In this case, G0 and G1 represent pre- and post-policy intervention, and R and Y are altered due to the changes in G.

For the study to determine the welfare that ought to be enjoyed by Bahrain’s citizens, it will use the welfare model developed by Hausman (1981). The model involves integrating the ordinary demand for the natural resource and later obtaining a partial differential equation:

x1 (P, M)= -σv(P,M)/ σP1/ σv(P,M)/ σMEffects of the current politics and regulations on Bahrain's oil

Since there is already published data on various regulation and political decisions on oil production, sale, and revenue dispersion, the study will utilize a Systematic Literature review to examine the relationship between politics, regulations, and oil revenue. The Systematic literature review will involve reviewing peer-reviewed journals and publications from various reputable publishers such as the arms of the United Nations, the World Bank, and the International monetary fund, among others. The methodology will help identify the relevant studies (following the pre-determined inclusion and exclusion criteria), conducting the necessary thematic analysis, and synthesizing the data to establish a conclusion on both the known and the unknown effects. Compared to other methods of analyzing secondary data such as content analysis, Systematic Literature reviews provide a more rigorous and more precise review process using various procedures that ensure comprehensiveness, authenticity, and reliability (Xiao & Watson, 2019). With respect to the subject in focus that calls for the researcher's information to be as reliable as possible to give precise results to policymakers and future researchers, a systematic literature review would be essential in mitigating these challenges.

Opportunities on Depoliticizing

For the researcher to determine the extent to which Bahrain can depoliticize and regulate its oil sector to maximize its revenue, the researcher will collect primary data from various stakeholders within Bahrain. In this case, the targeted respondents include policymakers and stakeholders in the oil sector, such as exporters. Since the study needs informed respondents to answer the survey questions, the researcher will use purposive sampling. The sampling procedure will allow the researcher to get the most experienced and competent respondents for collecting the necessary data (Etikan et al., 2016). Besides, the researcher focuses on getting informed participants who are experts in policymaking in the oil industry and can help answer the study questions. Purposive sampling will enable the study to select a small percentage of the population who will be most qualified to represent the larger group's representational views.

The researcher will have to seek the necessary permits to undertake the required surveys and ensure that all the ethical issues are observed as recommended by Campbell & Groundwater-Smith (2007). Besides, the researcher will ensure that the questionnaire used is reliable and capable of giving authentic results. Thus, the research tools will be first piloted to a smaller sample of the population. Their responses recorded from the pilot study will enable the researcher to calculate the Cronbach's alpha value to determine the questionnaire's reliability. Smith (2004) advises that a reliable research tool should have a score of 0.6 and above in Cronbach alpha analysis. Analyzing the data generated from this tool will call for using the Machine Learning technique such as descriptive, regressions, correlation, and forecast analysis.

Conclusion

The researcher is confident that the study will gather the necessary evidence to establish the required recommendations and conclusion on the subject at hand from these research tools. As much as some methodologies used could be subjected to researcher biasness, these cases will be minimalized as possible so that the study can be relevant and viable to inform policymakers and future researchers.