The Macroeconomics Of The Arab States Of The Gulf

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The Macroeconomics of the Arab States of the Gulf

Author : Raphael Espinoza
Publisher : OUP Oxford
ISBN 13 : 0191506745
Total Pages : 240 pages
Book Rating : 4.1/5 (915 download)

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Book Synopsis The Macroeconomics of the Arab States of the Gulf by : Raphael Espinoza

Download or read book The Macroeconomics of the Arab States of the Gulf written by Raphael Espinoza and published by OUP Oxford. This book was released on 2013-10-31 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economies of the Arab states of the Gulf have gone through considerable changes in the last decade, spurred by high oil prices and ambitious diversification plans. Large-scale immigration provided the labour force while capital inflows and financial development leveraged oil wealth to finance diversification. The collapse in real estate prices around the world followed by the global crisis slowed growth and raised questions on the appropriateness of what has been dubbed the 'GCC model'. The Gulf Cooperation Council (GCC) countries have thus far managed to leverage their large natural resource wealth to achieve economic prosperity and finance social advances, and the region also emerged as an important source of funds for the other countries in the Middle East. Nevertheless, the GCC face several challenges. Productivity growth must increase to fully reap the benefits of investment. Jobs must be created for the nationals and the growing youth population. State intervention (which is prevalent, given that oil revenues accrue to the government) must become efficient and be used to diversify and modernize the economy. In addition, the recent crisis highlighted the importance of fiscal, monetary, and financial stability policies to manage macroeconomic cycles. This book analyses these issues and combines data and econometric analysis with theoretical discussions. It concludes with a discussion of the importance of the GCC for the wider region.

Economic Co-Operation in the Gulf

Author : A. Ibrahim Badr-el-din
Publisher : Routledge
ISBN 13 : 1134087683
Total Pages : 169 pages
Book Rating : 4.1/5 (34 download)

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Book Synopsis Economic Co-Operation in the Gulf by : A. Ibrahim Badr-el-din

Download or read book Economic Co-Operation in the Gulf written by A. Ibrahim Badr-el-din and published by Routledge. This book was released on 2007 with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt: With global concerns over rising oil prices, this book examines the major issues facing the economies of the Arab Gulf today, covering all six of the Arab Gulf Cooperation Council (AGCC) states: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. Providing a detailed account of the central features of the economies of the Arab Gulf, this book draws out the critical trends that will shape the region in future years. It includes an in-depth analysis of topical issues such as the AGCC monetary union, intra-AGCC national labour movement, Islamic banking and programme.

Sustainable Prosperity in the Arab Gulf

Author : Jarmo T. Kotilaine
Publisher : Taylor & Francis
ISBN 13 : 100092176X
Total Pages : 359 pages
Book Rating : 4.0/5 (9 download)

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Book Synopsis Sustainable Prosperity in the Arab Gulf by : Jarmo T. Kotilaine

Download or read book Sustainable Prosperity in the Arab Gulf written by Jarmo T. Kotilaine and published by Taylor & Francis. This book was released on 2023-08-16 with total page 359 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tracing the development journey of the Arabian Gulf region with a forward-looking perspective, this book describes how a combination of good fortune, creative experimentation, and determination has enabled the region to achieve prosperity. Today, the Arabian Gulf is well positioned to assume a pivotal role in the new global order. Forced to balance an extreme climate and acute resource constraints, but also an exceptional location, the region’s progress and prosperity have historically been precarious and vulnerable to external shocks. Efforts to transcend resource dependency have typically involved proactive attempts to enable other economic activities. This book argues that, while conventional economic diversification is making headway, the Gulf region is in fact amidst a far more holistic transformation that positions it for a pivotal role in the emerging multipolar global order. It now offers globally competitive regulations and world-class infrastructure at the heart of the Old World, flanked by two fast-growing continents. It has become the hub of choice for a growing share of inter-continental flows of people, trade, and capital, and has established strong economic ties in all directions. This book shows how, despite many risks and challenges, the region possesses the forward-looking vision and necessary resilience that can finally liberate it from its long-standing "resource curse" and a development paradigm that looks likely to provide the foundation for sustained well-being in the decades ahead. The scope and rigor of the book make it suitable as a reference on the Arabian Gulf and for those interested in global affairs and economic development, as well as policymakers and the business community.

Gulf Cooperation Council: Economic Prospects and Policy Challenges for the GCC Countries

Author : International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 74 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Gulf Cooperation Council: Economic Prospects and Policy Challenges for the GCC Countries by : International Monetary Fund. Middle East and Central Asia Dept.

Download or read book Gulf Cooperation Council: Economic Prospects and Policy Challenges for the GCC Countries written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2023-12-14 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: The GCC region’s non-hydrocarbon growth momentum remains strong, driven by higher domestic demand, increased gross capital inflows, and reform implementation. Oil production – which depends on OPEC+ decisions – will be subdued in the near term. Inflation is contained and current account surpluses are high. Fiscal balances remain healthy, supported by fiscal reforms and high oil prices. The primary non-oil deficits are expected to decrease to 24 percent of GDP by 2028, with higher non-oil revenue reflecting sustained fiscal and structural reforms and contained expenditures. High global uncertainty is weighing on the outlook.

Oil and Development in the Arab Gulf States

Author : Walid I. Sharif
Publisher : Taylor & Francis
ISBN 13 : 1000966607
Total Pages : 426 pages
Book Rating : 4.0/5 (9 download)

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Book Synopsis Oil and Development in the Arab Gulf States by : Walid I. Sharif

Download or read book Oil and Development in the Arab Gulf States written by Walid I. Sharif and published by Taylor & Francis. This book was released on 2023-10-11 with total page 426 pages. Available in PDF, EPUB and Kindle. Book excerpt: Oil and Development in the Arab Gulf States (1985) brings together in one volume the manifold sources of information on the Arab Gulf region, especially the impact of oil revenues on its economic, political and social development. It provides a balanced core of primary and secondary sources on various aspects of the economics of Arab oil between 1973 and 1983.

Expats and the Labor Force

Author : G. Naufal
Publisher : Springer
ISBN 13 : 1137117850
Total Pages : 228 pages
Book Rating : 4.1/5 (371 download)

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Book Synopsis Expats and the Labor Force by : G. Naufal

Download or read book Expats and the Labor Force written by G. Naufal and published by Springer. This book was released on 2012-10-31 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: An investigation into the labor force in the Gulf Cooperation Council (GCC) countries primarily focusing on labor migration and remittances. The GCC countries have the highest share of foreign labor in the world. The authors examine the multidimensional aspects of such a large foreign population.

GCC Monetary Union and the Degree of Macroeconomic Policy Coordination

Author : Bassem Kamar
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis GCC Monetary Union and the Degree of Macroeconomic Policy Coordination by : Bassem Kamar

Download or read book GCC Monetary Union and the Degree of Macroeconomic Policy Coordination written by Bassem Kamar and published by International Monetary Fund. This book was released on 2007-10 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Coordinating macroeconomic policies is a pre-requisite to a successful launch of the common currency in the GCC countries. Relying on the Behavioral Equilibrium Exchange Rate approach as a theoretical framework, we apply the Pooled Mean Group methodology to determine the similarity of the impact of a selected set of macroeconomic indicators on the real exchange rate in each country. Our empirical evidence points to a clear coordination of monetary policy, fiscal policy, government consumption, and openness across the member countries. While RER misalignments also show a substantial convergence building over time, differences in the misalignments of the two polar cases remain rather substantial, calling for further coordination and policy harmonization.

Monetary Union Among Member Countries of the Gulf Cooperation Council

Author : Mr. Ugo Fasano-Filho
Publisher : International Monetary Fund
ISBN 13 : 1452721769
Total Pages : 74 pages
Book Rating : 4.4/5 (527 download)

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Book Synopsis Monetary Union Among Member Countries of the Gulf Cooperation Council by : Mr. Ugo Fasano-Filho

Download or read book Monetary Union Among Member Countries of the Gulf Cooperation Council written by Mr. Ugo Fasano-Filho and published by International Monetary Fund. This book was released on 2003-08-29 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: The six member countries of the Gulf Cooperation Council (GCC)--Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates--have made important progress toward economic and financial integration, with the aim of establishing an economic and monetary union. This paper provides a detailed analysis of the economic performance and policies of the GCC countries during 1990-2002. Drawing on the lessons from the experience of selected currency and monetary unions in Africa, Europe, and the Caribbean, it assesses the potential costs and benefits of a common currency for GCC countries and also reviews the options for implementing a monetary union among these countries.

Macroeconomic Issues and Policies in the Middle East and North Africa

Author :
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 396 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Macroeconomic Issues and Policies in the Middle East and North Africa by :

Download or read book Macroeconomic Issues and Policies in the Middle East and North Africa written by and published by International Monetary Fund. This book was released on 2001-09-21 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings together recent IMF research on how the Middle East and North African countries are grappling with various macroeconomic challenges. It rigorously analyzes policy alternatives for a range of relevant topics, including the implications of changing demographic trends for growth and unemployment, determinants of inflation, financial-sector reform and Islamic banking, fiscal sustainability in oil-dependent economies, exchange rate and trade arrangements, and impediments to foreign direct investment. The book’s overall theme-self-sustaining and faster growth can be achieved through comprehensive structural reforms and closer collaboration between the region’s policymakers and the international community.

The Eastern Caribbean Economic and Currency Union

Author : Mr.Alfred Schipke
Publisher : International Monetary Fund
ISBN 13 : 1616352655
Total Pages : 546 pages
Book Rating : 4.6/5 (163 download)

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Book Synopsis The Eastern Caribbean Economic and Currency Union by : Mr.Alfred Schipke

Download or read book The Eastern Caribbean Economic and Currency Union written by Mr.Alfred Schipke and published by International Monetary Fund. This book was released on 2013-04-10 with total page 546 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Eastern Caribbean Economic and Currency Union (OECS/ECCU) is one of four currency unions in the world. As in other parts of the world in the aftermath of the global economic and financial crisis, the region is at a crossroads, facing the major challenges of creating jobs, making growth more inclusive, reforming the banking system, and managing volatility, while grappling with high public debt and persistent low economic growth. Policymakers have the critical task of implementing strong reforms to strengthen the monetary union while also laying the foundation for accelerating growth. This Handbook provides a comprehensive analysis of the key issues in the OECS/ECCU, including its organization and economic and financial sector linkages, and provides policy recommendations to foster economic growth.

The Arab States of the Gulf and BRICS

Author : Tim Niblock
Publisher :
ISBN 13 : 9783959940085
Total Pages : 0 pages
Book Rating : 4.9/5 (4 download)

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Book Synopsis The Arab States of the Gulf and BRICS by : Tim Niblock

Download or read book The Arab States of the Gulf and BRICS written by Tim Niblock and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: How the Gulf Cooperation Council (GCC) relates to BRICS (Brazil, Russia, India, China, and South Africa) is, in the light of the growing strength and importance of this organisation and the countries which comprise it, of critical importance. The GCC countries have fast-growing economies, and they share some of the attributes and concerns of BRICS countries. The issue is not simply how the GCC countries handle their relations with the individual BRICS countries, but more importantly how they relate to an alternative structure of coordination and perhaps power in the global order. Their established links and alliances may no longer be enough to satisfy either their economic needs or their security concerns. The objective of this book is to examine the commonalities and the differences in economic and political interest between the BRICS countries and the GCC countries, so as to assess the potential for cooperation and collective action. Whether the GCC could itself become a part of BRICS is also worth consideration. While the focus is on the GCC, the GCC's relations with BRICS countries have been, and will continue to be, closely affected by the wider Gulf dimension--the state of their relations with Iran and Iraq, and the manner in which BRICS countries relate to those two countries.

Providing Official Statistics for the Common Market and Monetary Union in the Gulf Cooperation Council (GCC) Countries

Author : Abdulrahman K. L. Al-Mansouri. ...
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (74 download)

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Book Synopsis Providing Official Statistics for the Common Market and Monetary Union in the Gulf Cooperation Council (GCC) Countries by : Abdulrahman K. L. Al-Mansouri. ...

Download or read book Providing Official Statistics for the Common Market and Monetary Union in the Gulf Cooperation Council (GCC) Countries written by Abdulrahman K. L. Al-Mansouri. ... and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Macroeconomic Policy in Fragile States

Author : Ralph Chami
Publisher : Oxford University Press
ISBN 13 : 0192594540
Total Pages : 496 pages
Book Rating : 4.1/5 (925 download)

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Book Synopsis Macroeconomic Policy in Fragile States by : Ralph Chami

Download or read book Macroeconomic Policy in Fragile States written by Ralph Chami and published by Oxford University Press. This book was released on 2021-01-26 with total page 496 pages. Available in PDF, EPUB and Kindle. Book excerpt: Setting macroeconomic policy is especially difficult in fragile states. Political legitimacy concerns are heightened, raising issues such as who the policymakers are, what incentives they face, and how the process of policymaking is likely to work under limited legitimacy and high uncertainty both about the macroeconomic environment as well as policy effectiveness. In addition, fragility expands the range of policy objectives in ways that may constrain the attainment of standard macroeconomic objectives. Specifically, in the context of fragility policymakers also need to focus on measures to mitigate fragility itself - i.e., they need to address issues such as regional and ethnic economic disparities, youth unemployment, and food price inflation. Socio-political developments around the world have thus pushed policymakers to broaden their toolkit to improve the effectiveness of macroeconomic management in the face of these constraints. The chapters in Macroeconomic Policy in Fragile States address these issues, both by giving an analytical context from which policymakers can build to answer the questions they face in fragile situations as well as by providing lessons drawn from empirical analyses and case studies. The first section of the volume discusses the interactions between political economy considerations and macroeconomic policymaking. The second section covers the private sector environment in fragile states. The third section focuses on macroeconomic policy, especially fiscal policy, monetary policy, exchange rate policy, external flows, and aid effectiveness. The last section explains the role of the IMF in fragile states and concludes by presenting case studies from the Middle East and from Sub-Saharan Africa. The contributors to the volume are economists and political scientists from academia as well as policymakers from international organizations and from countries affected by fragility.

Economic Diversification in the GCC

Author : Mr.Tim Callen
Publisher : International Monetary Fund
ISBN 13 : 1498303234
Total Pages : 32 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Economic Diversification in the GCC by : Mr.Tim Callen

Download or read book Economic Diversification in the GCC written by Mr.Tim Callen and published by International Monetary Fund. This book was released on 2014-12-23 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Democracy in the Arab World

Author : Ibrahim Elbadawi
Publisher : IDRC
ISBN 13 : 0415779995
Total Pages : 354 pages
Book Rating : 4.4/5 (157 download)

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Book Synopsis Democracy in the Arab World by : Ibrahim Elbadawi

Download or read book Democracy in the Arab World written by Ibrahim Elbadawi and published by IDRC. This book was released on 2011 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite notable socio-economic development in the Arab region, a deficit in democracy and political rights has continued to prevail. This book examines the major reasons underlying the persistence of this democracy deficit over the past decades, drawing on case studies from across the Arab world to explore economic development, political institutions and social factors, and the impact of oil wealth and regional wars.

Debt and Entanglements Between the Wars

Author : Mr.Thomas J Sargent
Publisher : International Monetary Fund
ISBN 13 : 1513516868
Total Pages : 322 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Debt and Entanglements Between the Wars by : Mr.Thomas J Sargent

Download or read book Debt and Entanglements Between the Wars written by Mr.Thomas J Sargent and published by International Monetary Fund. This book was released on 2019-11-08 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: World War I created a set of forces that affected the political arrangements and economies of all the countries involved. This period in global economic history between World War I and II offers rich material for studying international monetary and sovereign debt policies. Debt and Entanglements between the Wars focuses on the experiences of the United States, United Kingdom, four countries in the British Commonwealth (Australia, New Zealand, Canada, Newfoundland), France, Italy, Germany, and Japan, offering unique insights into how political and economic interests influenced alliances, defaults, and the unwinding of debts. The narratives presented show how the absence of effective international collaboration and resolution mechanisms inflicted damage on the global economy, with disastrous consequences.

The Financial Markets of the Arab Gulf

Author : Jean Francois Seznec
Publisher : Routledge
ISBN 13 : 1351059696
Total Pages : 216 pages
Book Rating : 4.3/5 (51 download)

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Book Synopsis The Financial Markets of the Arab Gulf by : Jean Francois Seznec

Download or read book The Financial Markets of the Arab Gulf written by Jean Francois Seznec and published by Routledge. This book was released on 2018-11-13 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial markets across the Arabian Peninsula have gone from being small, quasi-medieval structures in the 1960s to large world-class groupings of financial institutions. This evolution has been fueled by vast increases in income from oil and natural gas. The Financial Markets of the Arab Gulf presents and analyzes the banks, stock markets, investment companies, money changers and sovereign wealth funds that have grown from this oil wealth and how this income has acted as a buffer between Gulf society at large and the newfound cash reserves of Gulf Cooperation Council states (Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, Oman and Bahrain) over the last fifty years. By assessing the development of institutions like the Abu Dhabi Investment Authority, the Saudi Arabian Monetary Authority, the Public Investment Fund and the National Bank of Kuwait, The Financial Markets of the Arab Gulf evaluates the growth of the markets and provides a detailed, critical, snapshot of the current form and function of the Gulf’s financial markets. It argues that the markets have been controlled by various state institutions for socio-political reasons. In particular, the Saudi state has used its sophisticated regulatory regime to push for industrialization and diversification, which culminated in the Vision 2030 plan. The UAE, Qatar, Kuwait, Bahrain and Oman have also been strongly involved in establishing modern markets for similar purposes but have done so through different means, with varying results, and each in line with what has been considered their respective comparative advantages. Along with critically surveying these institutions and their role in global finance, the book also presents case studies depicting transactions typical to the region, including the highly profitable documentary credits of commercial banks, the financial scandal of certain financiers and their regulatory arbitrage between Bahrain and Saudi Arabia, a review of the Dubai’s trade miracle, and an assessment of the value and importance of the privatization of Saudi Aramco.