Fiscal Adjustment In The Gulf Countries Less Costly Than Previously Thought
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Fiscal Adjustment In The Gulf Countries Less Costly Than Previously Thought
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Author : Mr.Armand Fouejieu
language : en
Publisher: International Monetary Fund
Release Date : 2018-06-13
Fiscal Adjustment In The Gulf Countries Less Costly Than Previously Thought written by Mr.Armand Fouejieu and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-06-13 with Business & Economics categories.
This paper estimates fiscal multipliers for the Gulf Cooperation Council (GCC) countries. Using OLS panel fixed effects on a sample of six countries from 1990-2016, results indicate that GCC fiscal multipliers have declined in recent years which would make the on-going fiscal consolidation less costly than previously thought. Though both capital and current multipliers have declined in recent years, capital multipliers are larger than current multipliers, which implies that reducing (less productive) current spending will help limit the adverse impact of such measures on growth.
Fiscal Adjustment In The Gulf Countries Less Costly Than Previously Thought
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Author : Mr.Armand Fouejieu
language : en
Publisher: International Monetary Fund
Release Date : 2018-06-13
Fiscal Adjustment In The Gulf Countries Less Costly Than Previously Thought written by Mr.Armand Fouejieu and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-06-13 with Business & Economics categories.
This paper estimates fiscal multipliers for the Gulf Cooperation Council (GCC) countries. Using OLS panel fixed effects on a sample of six countries from 1990-2016, results indicate that GCC fiscal multipliers have declined in recent years which would make the on-going fiscal consolidation less costly than previously thought. Though both capital and current multipliers have declined in recent years, capital multipliers are larger than current multipliers, which implies that reducing (less productive) current spending will help limit the adverse impact of such measures on growth.
The Economy Of Saudi Arabia In The 21st Century
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Author : John Sfakianakis
language : en
Publisher: Oxford University Press
Release Date : 2024-03-28
The Economy Of Saudi Arabia In The 21st Century written by John Sfakianakis and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-03-28 with Business & Economics categories.
This book is about Saudi Arabia's efforts to overhaul its economy and the numerous prospects and challenges it faces in doing so. As one of the world's leading oil producers, the outcomes of the most ambitious wave of reforms Saudi Arabia has ever undertaken will provide valuable lessons not only for the kingdom itself but also for other oil-dependent and resource-based economies. Since 2016, Saudi Arabia has embarked on an unparalleled economic - if not social and political - transformation project with an ultimate aim of diversifying away from oil. New sources of growth such as tourism, industry, and entertainment have been identified, but it remains to be seen whether these will be enough to sustain the economy in the post-oil era. Reforms, including lowering energy subsidies, instituting VAT, and introducing indirect taxes on labor and businesses, have already produced notable results. Looking ahead, the economy requires rigorous and continuous processes of severe competition amongst its private sector participants as well as strong institutions. It also requires creative destruction to be allowed to run its course within the wider economy. The economic reform experiment undertaken by Saudi Arabia remains the most sweeping among emerging market economies - and certainly in the entire Middle East. The changes are all encompassing and involve a complex redrawing of the political, economic, religious, and social map.
The Future Of Oil And Fiscal Sustainability In The Gcc Region
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Author : Mr.Tokhir N Mirzoev
language : en
Publisher: International Monetary Fund
Release Date : 2020-02-06
The Future Of Oil And Fiscal Sustainability In The Gcc Region written by Mr.Tokhir N Mirzoev and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-02-06 with Business & Economics categories.
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.
U S Monetary Policy Spillovers To Gcc Countries Do Oil Prices Matter
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Author : Mr.Olumuyiwa S Adedeji
language : en
Publisher: International Monetary Fund
Release Date : 2019-12-27
U S Monetary Policy Spillovers To Gcc Countries Do Oil Prices Matter written by Mr.Olumuyiwa S Adedeji and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-12-27 with Business & Economics categories.
This paper provides empirical evidence that the size of the spillovers from U.S. monetary policy to non-oil GDP growth in the GCC countries depends on the level of oil prices. The potential channels through which oil prices could affect the effectiveness of monetary policy are discussed. We find that the level of oil prices tends to dampen or amplify the growth impact of changes in U.S. monetary policy on the non-oil economies in the GCC.
Sustainable Prosperity In The Arab Gulf
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Author : Jarmo T. Kotilaine
language : en
Publisher: Taylor & Francis
Release Date : 2023-08-16
Sustainable Prosperity In The Arab Gulf written by Jarmo T. Kotilaine and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-08-16 with Business & Economics categories.
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.
Regional Economic Outlook October 2019 Middle East And Central Asia
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Author : International Monetary Fund. Middle East and Central Asia Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2019-11-06
Regional Economic Outlook October 2019 Middle East And Central Asia written by International Monetary Fund. Middle East and Central Asia Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-11-06 with Business & Economics categories.
Growth in the near term remains subdued for oil exporters in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region, amid volatile oil prices, precarious global growth, elevated fiscal vulnerabilities, and heightened geopolitical tensions. In addition, declining productivity is dampening medium-term growth prospects. To reduce dependence on oil prices and pave the way for more sustainable growth, fiscal consolidation needs to resume, underpinned by improved medium-term fiscal frameworks. In parallel, structural reforms and further financial sector development would boost foreign direct investment (FDI) and domestic private investment and foster diversification, thus contributing to improved productivity and potential growth.
Regional Economic Outlook November 2018 Middle East And Central Asia
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Author : International Monetary Fund. Middle East and Central Asia Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2018-10-24
Regional Economic Outlook November 2018 Middle East And Central Asia written by International Monetary Fund. Middle East and Central Asia Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-10-24 with Business & Economics categories.
As in other regions in the world, countries in MENAP and CCA regions are exposed to tightening in global financing conditions and ongoing global trade tensions. The former has already begun to impact several emerging market economies in MENAP and could have more severe implications should financial market sentiment suddenly deteriorate. Escalating global trade tensions will have a limited direct and immediate impact on these regions but could impart significant strains over time through negative effects on trading partners and through market confidence effects.
Qatar
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Author : International Monetary Fund. Middle East and Central Asia Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2024-02-07
Qatar written by International Monetary Fund. Middle East and Central Asia Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-02-07 with Business & Economics categories.
Selected Issues
2022 Fifa World Cup
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Author : Aidyn Bibolov
language : en
Publisher: International Monetary Fund
Release Date : 2024-02-21
2022 Fifa World Cup written by Aidyn Bibolov and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-02-21 with Business & Economics categories.
Qatar hosted the 2022 FIFA World Cup (WC) successfully and took the opportunity to further develop its non-hydrocarbon economy. Near-term contributions to Qatar’s economy, from visitors’ spending and WC-related broadcasting revenue, of up to 1 percent of GDP was comparable to cross-country experiences. The event generated positive regional economic spillovers as a sizeable share of spectators stayed in and commuted from neighboring GCC countries. Longer-term contributions were significant—the large investment in general infrastructure ahead of the WC drove much of the non-hydrocarbon sector’s growth in the past decade. The high-quality infrastructure and global visibility brought by the WC should be leveraged to further promote diversification and achieve the National Vision 2030.