Abstract
Abstract. The UAE has long set itself apart from other members of the Organization of Petroleum Exporting Countries (OPEC) by successfully reducing its dependence on oil exports and diversifying its economy to focus on industries such as tourism, media, technology, and real estate. The economy’s innovation capacity expanded when businesses and properties were allowed to be 100pc owned by non-nationals. However, the UAE must learn from its own experiences and those of other nations to further improve its innovation ecosystem, such as by tackling legacy rentier institutions and laws that prevent it from transforming into a fully modern sustainable economy.
Keywords. Innovation; Ecosystem; United Arab Emirates.
JEL. A10; B10; E10.
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