impact of the global financial crisis on the gulf cooperation council countries and challenges ahead an update

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Impact Of The Global Financial Crisis On The Gulf Cooperation Council Countries And Challenges Ahead An Update

Author : Ms. May Y. Khamis
ISBN : 9781455287994
Genre : Business & Economics
File Size : 24. 11 MB
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Departmental papers are usually focused on a specific economic topic, country, or region. They are prepared in a timely way to support the outreach needs of the IMF’s area and functional departments.

Nonperforming Loans In The Gcc Banking System And Their Macroeconomic Effects

Author : Raphael A. Espinoza
ISBN : 9781455209828
Genre : Business & Economics
File Size : 20. 4 MB
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According to a dynamic panel estimated over 1995 - 2008 on around 80 banks in the GCC region, the NPL ratio worsens as economic growth becomes lower and interest rates and risk aversion increase. Our model implies that the cumulative effect of macroeconomic shocks over a three year horizon is indeed large. Firm-specific factors related to risk-taking and efficiency are also related to future NPLs. The paper finally investigates the feedback effect of increasing NPLs on growth using a VAR model. According to the panel VAR, there could be a strong, albeit short-lived feedback effect from losses in banks’ balance sheets on economic activity, with a semi-elasticity of around 0.4.

The Macroeconomics Of The Arab States Of The Gulf

Author : Raphael A. Espinoza
ISBN : 9780199683796
Genre : Business & Economics
File Size : 81. 36 MB
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Provides original insights into the functioning of the GCC macro-economy. It covers structural, long-term, issues such as the determinants of economic growth, the impact of foreign workers on labour markets, wages, and competitiveness, and the economic impact of a rich state that wants to distribute oil money.

The Report Oman 2009

Author :
ISBN : 9781902339207
Genre : Oman
File Size : 90. 45 MB
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Determinants Of The Foreign Exchange Risk Premium In Gulf Cooperation Council Countries

Author : Tigran Poghosyan
ISBN : 9781455276905
Genre : Business & Economics
File Size : 70. 80 MB
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This paper analyzes macroeconomic determinants of the foreign exchange risk premium in two Gulf Cooperation Council (GCC) countries that peg their currencies to the U.S. dollar: Saudi Arabia and the United Arab Emirates. The analysis is based on the stochastic discount factor methodology, which imposes a no arbitrage condition on the relationship between the foreign exchange risk premium and its macroeconomic determinants. Estimation results suggest that U.S. inflation and consumption growth are important factors driving the risk premium, which is in line with the standard C-CAPM model. In addition, growth in international oil prices influences the risk premium, reflecting the important role played by the hydrocarbon sector in GCC economies. The methodology employed in this paper can be used for forecasting the risk premium on a monthly basis, which has important practical implications for policymakers interested in the timely monitoring of risks in the GCC.

Financial Statecraft

Author : Benn Steil
ISBN : 0300128266
Genre : Business & Economics
File Size : 29. 96 MB
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divAs trade flows expanded and trade agreements proliferated after World War II, governments—most notably the United States—came increasingly to use their power over imports and exports to influence the behavior of other countries. But trade is not the only way in which nations interact economically. Over the past two decades, another form of economic exchange has risen to a level of vastly greater significance and political concern: the purchase and sale of financial assets across borders. Nearly $2 trillion worth of currency now moves cross-border every day, roughly 90 percent of which is accounted for by financial flows unrelated to trade in goods and services—a stunning inversion of the figures in 1970. The time is ripe to ask fundamental questions about what Benn Steil and Robert Litan have coined as “financial statecraft,” or those aspects of economic statecraft directed at influencing international capital flows. How precisely has the American government practiced financial statecraft? How effective have these efforts been? And how can they be made more effective? The authors provide penetrating and incisive answers in this timely and stimulating book. /DIV

The Gcc Banking Sector

Author : Ms. May Y. Khamis
ISBN : 9781452720784
Genre : Business & Economics
File Size : 67. 8 MB
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In this paper, we analyze the evolution of the Gulf Cooperation Council (GCC) banking sectors in the six member countries including ownership, concentration, cross-border linkages, balance sheet exposures and risks, recent trends in credit growth, and financial soundness. We identify risks to the banking sector''s financial stability in the context of the current global crisis and their mitigating factors.

Crisis In The Gulf Cooperation Council

Author :
ISBN : 1947772007
Genre :
File Size : 80. 48 MB
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The Saudi Arabian Economy

Author : Mohamed A. Ramady
ISBN : 1441959874
Genre : Business & Economics
File Size : 48. 8 MB
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The Saudi Arabian economy has changed almost beyond recognition since the oil boom days of the 1980s, and the Kingdom itself has changed too economically, socially, and demographically. In the second edition of The Saudi Arabian Economy, Mohamed Ramady uses several overlapping themes to establish and develop a framework for studying the fundamental challenges to the Saudi economy. Particular attention is paid to the benefits of short-term planning and long-term diversification intended to shield the economy from potentially de-stabilizing oil price fluctuations and the pace and diversity of domestic reforms. The author examines the core strengths and evolution of various financial institutions and the Saudi stock market in the face of globalization, before analyzing the private sector in detail. Topics discussed include: • The hydrocarbon and minerals sector, including the emergence of the competitive petrochemical sector • The impact of small and medium sized businesses and the evolving role of “family” businesses • The growing role of women in the Saudi economy • The role of privatization and FDI as engines of change and the position of public-private-partnerships • The establishment of a foundation for a knowledge-based economy Finally, the author offers an analysis of the key challenges facing the Saudi economy, paying particular attention to the potential costs and benefits of globalization, and membership in the WTO. Employment, education, economic and social stability, and Saudi Arabia’s place in the Gulf Cooperation Council, as well as Saudi Arabia’s evolving strategic economic relations with China and other countries are offered as keys to the consensus building needed to ensure the Kingdom’s healthy economic future.

The Outlook For Arab Gulf Cooperation

Author : Jeffrey Martini
ISBN : 9780833093080
Genre : History
File Size : 20. 84 MB
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This report examines what binds and divides the six Gulf Cooperation Council (GCC) states—Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates—and presents the outlook for the GCC’s evolution over the next ten years. The study aims to help policymakers better understand intra-GCC dynamics and prepare for future trends in a region with high stakes for U.S. strategic interests.

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