the macroeconomics of the arab states of the gulf

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The Macroeconomics Of The Arab States Of The Gulf

Author : Raphael A. Espinoza
ISBN : 9781475519990
Genre : Business & Economics
File Size : 78. 43 MB
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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 labor 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.

Capitalism And Class In The Gulf Arab States

Author : Adam Hanieh
ISBN : 9780230119604
Genre : Political Science
File Size : 69. 21 MB
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This book analyzes the recent development of Gulf capitalism through to the aftermath of the 2008 economic crisis. Situating the Gulf within the evolution of capitalism at a global scale, it presents a novel theoretical interpretation of this important region of the Middle East political economy.

Building On Progress Reform And Growth In The Middle East And North Africa

Author : International Monetary Fund
ISBN : 1557756252
Genre : Africa, North
File Size : 21. 60 MB
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Countries in the Middle East and North Africa region have unprecedented opportunities for transforming their economies through accelerated economic growth, but the countries themselves must ensure the necessary conditions. This study, by the Middle Eastern Department, focuses on four areas that are fundamental to growth-enhancing structural changes: improving the region's investment performance, fiscal reform, financial sector reform, and trade liberalization.

Building On Progress

Author : International Monetary Fund
ISBN : 9781455295180
Genre : Business & Economics
File Size : 58. 73 MB
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Countries in the Middle East and North Africa region have unprecedented opportunities for transforming their economies through accelerated economic growth, but the countries themselves must ensure the necessary conditions. This study, by the Middle Eastern Department, focuses on four areas that are fundamental to growth-enhancing structural changes: improving the region's investment performance, fiscal reform, financial sector reform, and trade liberalization.

Shifting Geo Economic Power Of The Gulf

Author : Dr Bessma Momani
ISBN : 9781409489368
Genre : Political Science
File Size : 69. 6 MB
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Bringing together for the first time distinguished Gulf experts to analyse the renewed geo-economic prominence of the Gulf states, this volume investigates some of the 'new power brokers' in the world economy: the oil-exporting states of the Gulf. The Gulf Cooperation Council's (GCC) members: Bahrain, Kuwait, Oman, Qatar, the United Arab Emirates and Saudi Arabia, collectively have the largest proven oil reserves in the world and are among the world's largest oil-exporting states. Gulf Arab states are actively pursuing a variety of foreign investment strategies. Some of these investments are being managed by sovereign wealth funds, government investment corporations, and government-controlled companies. This renewed geo-economic status has received a lot of media attention but there has been a dearth of academic study on what this shift in global economic power means for the international economic system. This volume aims to fill this gap with a rigorous scholarly analysis based on primary sources and raw economic data. It brings together the expertise of academics who have devoted their career to careful study of the region and of renowned scholars of international political economy.

Monetary Union Among Member Countries Of The Gulf Cooperation Council

Author : Mr. Ugo Fasano-Filho
ISBN : 9781452741918
Genre : Business & Economics
File Size : 58. 56 MB
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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.

Popular Culture And Political Identity In The Arab Gulf States

Author : Alanoud Alsharekh
ISBN : 9780863568626
Genre : Social Science
File Size : 83. 13 MB
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As the Gulf assumes an ever more important identity in the global political economy, we see the emergence of a new popular and political culture underpinning its increasingly self-confident national identities. This volume explores the new dynamism of the Gulf, reflected not just in high-rise buildings and booming stock markets, but also manifested in the realms of art, ideas and expression, and their relationships with political authority. Contributors include figures instrumental to the emergence of these new identities, including artists, broadcasters and cultural commentators.

Economic Co Operation In The Gulf

Author : Badr El Din A. Ibrahim
ISBN : 9781134087686
Genre : Business & Economics
File Size : 47. 28 MB
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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 programmes to finance small and medium-sized enterprises (SMEs). The book: assesses the costs and benefits of the proposed monetary union, assessing whether AGCC economic structures have converged sufficiently, and whether these economies have the internal flexibility necessary to make the union work effectively investigates intra-national labour mobility in the context of the forthcoming monetary union and identifies the most crucial features in a successful common AGCC employment strategy considers the fortunes of the prominent Islamic banks in the region examines the impact on liquidity of the external economic environment and regulatory policy contrasts and compares some of the major SME financing schemes, focusing in particular on SME financing in Oman.

Regional Financial Integration In The Gcc

Author : Raphael A. Espinoza
ISBN : 9781451982480
Genre : Business & Economics
File Size : 29. 8 MB
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We investigate the extent of regional financial integration in the member countries of the Gulf Cooperation Council. The limited volume data available suggests that regional integration is non-negligible. Bahrain and Kuwait investments especially are oriented towards the region. The development of stock markets in the region will also improve the extent of financial integration. Interest rate data shows that convergence exists and that interest rate differentials are relatively short-lived-especially compared to the ECCU, another emerging market region sharing a common currency. Equities data using cross-listed stocks confirms that stock markets are fairly integrated compared to other emerging market regions, although financial integration is hampered by market illiquidity.

Republic Of Kazakhstan

Author : International Monetary Fund
ISBN : 9781452749822
Genre : Business & Economics
File Size : 59. 42 MB
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This Selected Issues paper analyzes the optimal policy response on the part of the Kazakhstan authorities to the prospective oil inflows. It surveys the literature on the so-called natural resource curse and offers an analysis of Kazakhstan’s petroleum potential. The paper analyzes the impact of the oil boom on the non-oil sector, based on a general equilibrium model. It provides an analysis of fiscal rules and fiscal sustainability and assesses the possible role of fiscal policies in addressing the “natural resource curse.”

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