Making The Most Of Public Investment In Mena And Cca Oil Exporting Countries
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Making The Most Of Public Investment In Mena And Cca Oil Exporting Countries
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Author : Ms.Maria A Albino-War
language : en
Publisher: International Monetary Fund
Release Date : 2014-11-12
Making The Most Of Public Investment In Mena And Cca Oil Exporting Countries written by Ms.Maria A Albino-War 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 2014-11-12 with Business & Economics categories.
Over the past decade, rising oil prices have translated into high levels of public investment in most MENA and CCA oil exporters. This has prompted questions about the efficiency of public investment in generating growth and closing infrastructure gaps, as well as concerns about fiscal vulnerabilities. When public investment is inefficient, higher levels of spending may simply lead to larger budget deficits, without sufficiency increasing the quantity or quality of public infrastructure in support of economic growth. This paper examines the efficiency of public investment in the MENA and CCA oil exporters using several techniques, including a novel application of the efficiency frontier analysis, estimates of unit investment costs, and assessments of public investment processes. The analysis confirms that these oil exporters have substantial room to improve public investment efficiency. Reforms in the public financial and investment management systems are needed to achieve this objective.
Learning To Live With Cheaper Oil
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Author : Mr.Martin Sommer
language : en
Publisher: International Monetary Fund
Release Date : 2016-06-09
Learning To Live With Cheaper Oil written by Mr.Martin Sommer 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 2016-06-09 with Business & Economics categories.
This paper discusses the challenges posed by low oil prices in the MENA and CCA regions, the adjustment policies adopted so far, and remaining adjustment needs and future risks.
Making The Most Of Public Investment In Mena And Cca Oil Exporting Countries
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Author : Ms.Maria A Albino-War
language : en
Publisher: International Monetary Fund
Release Date : 2014-11-13
Making The Most Of Public Investment In Mena And Cca Oil Exporting Countries written by Ms.Maria A Albino-War 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 2014-11-13 with Business & Economics categories.
Over the past decade, rising oil prices have translated into high levels of public investment in most MENA and CCA oil exporters. This has prompted questions about the efficiency of public investment in generating growth and closing infrastructure gaps, as well as concerns about fiscal vulnerabilities. When public investment is inefficient, higher levels of spending may simply lead to larger budget deficits, without sufficiency increasing the quantity or quality of public infrastructure in support of economic growth. This paper examines the efficiency of public investment in the MENA and CCA oil exporters using several techniques, including a novel application of the efficiency frontier analysis, estimates of unit investment costs, and assessments of public investment processes. The analysis confirms that these oil exporters have substantial room to improve public investment efficiency. Reforms in the public financial and investment management systems are needed to achieve this objective.
Public Investment Efficiency In Sub Saharan African Countries
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Author : Karim Barhoumi
language : en
Publisher: International Monetary Fund
Release Date : 2018-07-06
Public Investment Efficiency In Sub Saharan African Countries written by Karim Barhoumi 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 2018-07-06 with Business & Economics categories.
There is significant room to improve public investment efficiency in sub-Saharan Africa. Investment in sub-Saharan African countries is lagging vis-à-vis peers such as emerging and developing Asia as well as Latin America and the Caribbean, and the region’s infrastructure is perceived as being of relatively low quality. Improving the efficiency of sizable investment programs in the region could contribute to more solid economic growth and help achieve desired social priorities and development goals. Results point to some variability in public investment efficiency within the region. Comparing efficiency scores across country groups suggests that investment efficiency in sub-Saharan African oil exporters tends to be lower than in sub-Saharan African non-resource-intensive countries. Additionally, countries in East African Community (EAC) perform better than those in Central African Economic and Monetary Community (CEMAC) and West African Economic and Monetary Union (WAEMU). Stronger institutions could foster more efficient public investment. The regression results in this paper show a positive correlation between public investment efficiency and the quality of institutions, suggesting that devel-oping stronger institutions in sub-Saharan Africa could lead to a significant improvement in investment efficiency. This is particularly relevant for coun-tries with weak institutional quality, where governments may use capital spending as a vehicle for rent-seeking, leading to inefficient spending. Given the current drive for scaling up investment in sub-Saharan Africa, the task of improving institutions quickly should become a priority.
West African Economic And Monetary Union Waemu
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2018-04-25
West African Economic And Monetary Union Waemu written by International Monetary Fund. African 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 2018-04-25 with Business & Economics categories.
Selected Issues
Promoting Inclusive Growth In The Middle East And North Africa
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Author : Mr. Roberto Cardarelli
language : en
Publisher: International Monetary Fund
Release Date : 2022-10-11
Promoting Inclusive Growth In The Middle East And North Africa written by Mr. Roberto Cardarelli 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 2022-10-11 with Business & Economics categories.
Despite some pre-pandemic gains in poverty reduction, literacy, and lifespans, many economies in the Middle East and North Africa (MENA) have struggled to ensure that the benefits of economic development and diversification accrue equitably to all segments of their populations. Among the main issues that remain unresolved are the high share of inactive youth (who are not engaged in employment, education, or training); large gaps in economic opportunities for women; fragmented social protection systems; and underdeveloped private sectors with tight regulation, absence of a level playing field, and limited access to credit that stifle the creation of new firms and growth, employment, and incomes. The COVID-19 pandemic not only risks wiping out some of the progress made in the region over the past decades, but could also exacerbate inequality in a durable way. There is evidence that the impact of the pandemic has been uneven across groups, with the recession having a disproportionate effect on the low-skilled, the young, women, and migrant workers in employment and incomes. With widespread inequality, high unemployment, and the expected entry of 27 million young people into the labor force over the next 10 years, countries across the MENA region need to evolve their economic models to boost job creation and make sure that the benefits of economic development are shared more widely among all their citizens. This book’s objective is to reassess the inclusive growth agenda in the MENA region in light of the rapidly changing pandemic-influenced world. It argues that countries need to embrace global trade and technological advances and evolving demographics at home as an opportunity to successfully implement policies that foster higher and more inclusive growth. It underscores that a return to the old social contract is neither desirable nor feasible. The book presents a comprehensive view of policies suited to the regional context that would boost job-rich and inclusive growth within a resilient macroeconomic policy framework. Its goal is to provide guidance to policymakers in the region to frame how best to promote inclusive growth, including in their engagement with all stakeholders.
Fiscal Monitor October 2015
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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2015-10-07
Fiscal Monitor October 2015 written by International Monetary Fund. Fiscal Affairs 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 2015-10-07 with Business & Economics categories.
This issue of the Fiscal Monitor examines the conduct of fiscal policy under the uncertainty caused by dependence on natural resource revenues. It draws on extensive past research on the behavior of commodity prices and their implications for macroeconomic outcomes, as well as on extensive IMF technical assistance to resource-rich economies seeking to improve their management of natural resource wealth.
Regional Economic Outlook October 2016 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 : 2016-10-20
Regional Economic Outlook October 2016 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 2016-10-20 with Business & Economics categories.
This issue focuses on the ongoing adjustment to cheaper oil and subdued economic activity for oil-producing countries, as well as the weak and fragile recovery in the Caucasus and Central Asia region. It also discusses global spillovers from China’s rebalancing and the growth of fiscal deficits.
Balancing Petroleum Policy
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Author : Alexander Huurdeman
language : en
Publisher: World Bank Publications
Release Date : 2019-05-16
Balancing Petroleum Policy written by Alexander Huurdeman and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-16 with Business & Economics categories.
Petroleum discovery in a country presents its policy makers with a challenging and complex task: formulating and agreeing on policies that will shape the country’s petroleum sector and guide the translation of the newly discovered resources into equitable and sustainable economic and social growth for the nation over the long term. Balancing Petroleum Policy provides policy makers and other stakeholders with the basic sector-related knowledge they need to embark on this task. It introduces a number of topics: the petroleum value chain and pivotal factors affecting value creation, a consultative process for developing a nation’s common vision on key petroleum development objectives, design of a legislative and contractual framework, petroleum fiscal regimes and their administration, prudent fiscal management, transparency and governance, environmental and social safeguards, and economic diversification through industrial linkages. Although much of the material is relevant to designing policies for the development of the petroleum sector in general, the book gives special focus to developing countries, countries in a federal or devolved setting, and countries that have experienced or are still experiencing civil conflict. With this focus in mind, the book examines three questions—ownership, management, and revenue sharing of petroleum resources—that are central to petroleum policy in any federal or devolved state. It also offers important perspectives on how to prevent violent conflicts related to such resources. Petroleum policies tend to vary significantly from country to country, as do the objectives that such policies aim to achieve in the specific context of each particular country. Although there is no one-size-fits-all policy and there are no clear-cut answers to the many potential policy dilemmas associated with the discovery of petroleum resources, this publication may help policy makers find the right balance among the chosen objectives—and the right policy choices to achieve these objectives.
Investment And Growth In The Arab World A Scoping Note
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2016-02-05
Investment And Growth In The Arab World A Scoping Note written by International Monetary Fund 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 2016-02-05 with Business & Economics categories.
Enhancing public and private investment, but also ensuring that this translates into higher growth and employment, have long been key policy challenges in Arab countries. Reflecting an improvement in policies and global conditions, investment rates in Arab countries have increased over the past couple of decades. In spite of this—and notwithstanding significant differences across the region—investment has on average been somewhat weaker than in peer countries and less effective at generating growth. Private investment, particularly foreign direct investment (FDI), has underperformed significantly. And while public capital spending has benefited from high oil prices in resource–rich countries, it has continued to lag in oil importers...