Economic Diversification in Oil-Exporting Arab Countries PDF Download
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Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498345697
Category : Business & Economics
Languages : en
Pages : 41
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Book Description
countries face similar challenges to create jobs and foster more inclusive growth. The current environment of likely durable low oil prices has exacerbated these challenges. The non-oil private sector remains relatively small and, consequently, has been only a limited source of growth and employment. Because oil is an exhaustible resource, new sectors need to be developed so they can take over as the oil and gas industry dwindles. Over-reliance on oil also exacerbates macroeconomic volatility. Greater economic diversification would unlock job-creating growth, increase resilience to oil price volatility and improve prospects for future generations. Macro-economic stability and supportive regulatory and institutional frameworks are key prerequisites for economic diversification...
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498345697
Category : Business & Economics
Languages : en
Pages : 41
Get Book Here
Book Description
countries face similar challenges to create jobs and foster more inclusive growth. The current environment of likely durable low oil prices has exacerbated these challenges. The non-oil private sector remains relatively small and, consequently, has been only a limited source of growth and employment. Because oil is an exhaustible resource, new sectors need to be developed so they can take over as the oil and gas industry dwindles. Over-reliance on oil also exacerbates macroeconomic volatility. Greater economic diversification would unlock job-creating growth, increase resilience to oil price volatility and improve prospects for future generations. Macro-economic stability and supportive regulatory and institutional frameworks are key prerequisites for economic diversification...
Author: Giacomo Luciani
Publisher: Springer Nature
ISBN: 9811557284
Category : Political Science
Languages : en
Pages : 377
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Book Description
This open access book questions the stereotype depicting all Gulf (GCC) economies as not sustainable, and starts a critical discussion of what these economies and polities should do to guarantee themselves a relatively stable future. Volatile international oil markets and the acceleration of the energy transition has challenged the notion that oil revenues are sufficient to sustain oil economies in the near to medium term. But what is the meaning of economic sustainability? The book discusses the multiple dimensions of the concept: economic diversification, continuing value of resources, taxation and fiscal development, labor market sustainability, sustainable income distribution, environmental sustainability, political order (democracy or authoritarianism) and sustainability, regional integration. The overarching message in this book is that we should move on from the simplistic branding of the Gulf economies as unsustainable and tackle the details of which adaptations they might need to undertake.
Author: Mr.Tim Callen
Publisher: International Monetary Fund
ISBN: 1498303234
Category : Business & Economics
Languages : en
Pages : 32
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Book Description
Abstract: The economies of the six Gulf Cooperation Council (GCC) countries are heavily reliant on oil. Greater economic diversification would reduce their exposure to volatility and uncertainty in the global oil market, help create jobs in the private sector, increase productivity and sustainable growth, and help create the non-oil economy that will be needed in the future when oil revenues start to dwindle. The GCC countries have followed many of the standard policies that are usually thought to promote more diversified economies, including reforms to improve the business climate, the development of domestic infrastructure, financial deepening, and improvements in education. Nevertheless, success to date has been limited. This paper argues that increased diversification will require realigning incentives for firms and workers in the economies—fixing these incentives is the “missing link” in the GCC countries’ diversification strategies. At present, producing non-tradables is less risky and more profitable for firms as they can benefit from the easy availability of low-wage foreign labor and the rapid growth in government spending, while the continued availability of high-paying and secure public sector jobs discourages nationals from pursuing entrepreneurship and private sector employment. Measures to begin to address these incentive issues could include limiting and reorienting government spending, strengthening private sector competition, providing guarantees and financial support for those firms engaged in export activity, and implementing labor market reforms to make nationals more competitive for private sector employment.
Author: Martin Beck
Publisher: Manchester University Press
ISBN: 1526149087
Category : Political Science
Languages : en
Pages : 205
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Book Description
The downhill slide in the global price of crude oil, which started mid-2014, had major repercussions across the Middle East for net oil exporters, as well as importers closely connected to the oil-producing countries from the Gulf. Following the Arab uprisings of 2010 and 2011, the oil price decline represented a second major shock for the region in the early twenty-first century – one that has continued to impose constraints, but also provided opportunities. Offering the first comprehensive analysis of the Middle Eastern political economy in response to the 2014 oil price decline, this book connects oil market dynamics with an understanding of socio-political changes. Inspired by rentierism, the contributors present original studies on Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. The studies reveal a large diversity of country-specific policy adjustment strategies: from the migrant workers in the Arab Gulf, who lost out in the post-2014 period but were incapable of repelling burdensome adjustment policies, to Egypt, Jordan, and Lebanon, who have never been able to fulfil the expectation that they could benefit from the 2014 oil price decline. With timely contributions on the COVID-19-induced oil price crash in 2020, this collection signifies that rentierism still prevails with regard to both empirical dynamics in the Middle East and academic discussions on its political economy.
Author: Mr.Tokhir N Mirzoev
Publisher: International Monetary Fund
ISBN: 1513525905
Category : Business & Economics
Languages : en
Pages : 55
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Book Description
The oil market is undergoing fundamental change. New technologies are increasing the supply of oil from old and new sources, while rising concerns over the environment are seeing the world gradually moving away from oil. This spells a significant challenge for oil-exporting countries, including those of the Gulf Cooperation Council (GCC) who account for a fifth of the world’s oil production. The GCC countries have recognized the need to reduce their reliance on oil and are all implementing reforms to diversify their economies as well as fiscal and external revenues. Nevertheless, as global oil demand is expected to peak in the next two decades, the associated fiscal imperative could be both larger and more urgent than implied by the GCC countries’ existing plans.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264429514
Category :
Languages : en
Pages : 532
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Book Description
This edition analyses how trade can contribute to economic diversification and empowerment, with a focus on eliminating extreme poverty, particularly through the effective participation of women and youth. It shows how aid for trade can contribute to that objective by addressing supply-side capacity and trade-related infrastructure constraints, including for micro-, small- and medium-sized enterprises notably in rural areas.
Author: Christian Henn
Publisher: International Monetary Fund
ISBN: 1484351630
Category : Business & Economics
Languages : en
Pages : 34
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Book Description
This paper develops new, far more extensive estimates of export quality, covering 178 countries and hundreds of products over 1962–2010. Quality upgrading is particularly rapid during the early stages of development, with quality convergence largely completed as a country reaches upper middle-income status. There is significant cross-country heterogeneity in quality growth rates. Within any given product line, quality converges both conditionally and unconditionally to the world frontier; increases in institutional quality and human capital are associated with faster quality upgrading. In turn, faster growth in quality is associated with more rapid output growth. The evidence suggests that quality upgrading is best encouraged through a broadly conducive domestic environment, rather than sector-specific policies. Diversification is important to create new upgrading opportunities.
Author: Mohamed A. Ramady
Publisher: Springer
ISBN: 3319677500
Category : Business & Economics
Languages : en
Pages : 312
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Book Description
This book discusses the strategic shift in ownership of Aramco, the Saudi Arabian Oil Company, and its potential impact on Aramco's role in a post- privatized world. Scheduled to become an IPO in 2018, Aramco is on the verge of becoming the largest IPO on the market. As the world’s largest oil and gas company, Aramco’s impending privatization has important implications for the world’s petroleum market. This book, therefore, undertakes an analysis of Aramco, examining its history, its current role in Saudi Arabia’s economy, and its future role as an IPO. The chapters highlight the likely outcomes for Aramco in proceeding with its planned IPO and privatization, as well as the various policy options and models available to it by drawing on the privatization of other national oil companies in Norway , Russia, Brazil, and China. The book also explores the complexities that will be involved in transforming Saudi Aramco to a privatized company—albeit with significant government oversight and control—and addresses key questions on the issues likely to be faced, such as IPO pricing, the listing, domain, and market capacity, and potential stakeholders. As such, this book will be of interest to academic researchers studying energy economics, energy policy, and the political economy of the Middle East, as well as private sector decision makers in energy related fields, international organizations, international oil companies, energy commodity traders, and public sector energy policy makers with interest in Saudi Arabia and Aramco’s IPO.
Author:
Publisher:
ISBN:
Category : Computer network resources
Languages : en
Pages : 300
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Book Description
Author: Mr.Hamid R Davoodi
Publisher: International Monetary Fund
ISBN: 9781589062290
Category : Business & Economics
Languages : en
Pages : 44
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Book Description
The Middle East and North Africa (MENA) is an economically diverse region. Despite undertaking economic reforms in many countries, and having considerable success in avoiding crises and achieving macroeconomic stability, the region’s economic performance in the past 30 years has been below potential. This paper takes stock of the region’s relatively weak performance, explores the reasons for this out come, and proposes an agenda for urgent reforms.
