Economic Diversification In Oil Exporting Arab Countries

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1498345697
Total Pages : 41 pages
Book Rating : 4.99/5 ( download)

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Download or read book Economic Diversification in Oil-Exporting Arab Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 2016-04-29 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: countries face similar challenges to create jobs and foster more inclusive growth. The current environment of likely durable low oil prices has exacerbated these challenges. The non-oil private sector remains relatively small and, consequently, has been only a limited source of growth and employment. Because oil is an exhaustible resource, new sectors need to be developed so they can take over as the oil and gas industry dwindles. Over-reliance on oil also exacerbates macroeconomic volatility. Greater economic diversification would unlock job-creating growth, increase resilience to oil price volatility and improve prospects for future generations. Macro-economic stability and supportive regulatory and institutional frameworks are key prerequisites for economic diversification...

Author : Mr.Tim Callen
Publisher : International Monetary Fund
ISBN 13 : 1498301681
Total Pages : 32 pages
Book Rating : 4.88/5 ( download)

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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.

Author : Giacomo Luciani
Publisher : Springer Nature
ISBN 13 : 9811557284
Total Pages : 365 pages
Book Rating : 4.86/5 ( download)

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Download or read book When Can Oil Economies Be Deemed Sustainable? written by Giacomo Luciani and published by Springer Nature. This book was released on 2020-09-30 with total page 365 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book questions the stereotype depicting all Gulf (GCC) economies as not sustainable, and starts a critical discussion of what these economies and polities should do to guarantee themselves a relatively stable future. Volatile international oil markets and the acceleration of the energy transition has challenged the notion that oil revenues are sufficient to sustain oil economies in the near to medium term. But what is the meaning of economic sustainability? The book discusses the multiple dimensions of the concept: economic diversification, continuing value of resources, taxation and fiscal development, labor market sustainability, sustainable income distribution, environmental sustainability, political order (democracy or authoritarianism) and sustainability, regional integration. The overarching message in this book is that we should move on from the simplistic branding of the Gulf economies as unsustainable and tackle the details of which adaptations they might need to undertake.

Author : Atif Kubursi
Publisher : Routledge
ISBN 13 : 1317592956
Total Pages : 159 pages
Book Rating : 4.52/5 ( download)

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Download or read book Oil, Industrialization & Development in the Arab Gulf States (RLE Economy of Middle East) written by Atif Kubursi and published by Routledge. This book was released on 2015-05-15 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: Were oil supplies everlasting and the demand for oil strong and continuous, economic diversification in the Gulf would be pointless. However oil reserves are finite and non-renewable and the world demand for oil from the Gulf region is simply not stable. Collectively the countries of the Gulf face the striking prospect that unless priorities and plans are set with care the gestation period of their economic development may be longer than the expected life of their hydrocarbon resources. This book examines just that threat. It considers the opportunities available to the Gulf states for accumulating sufficient productive capital in the non-oil sectors of their economy to offset the drawing down of oil reserves. The book pays particular attention to the possibilities of development through cooperation not only within the Gulf Cooperation Council but also within the larger Arab region and the Third World as a whole. It concludes with a critical review of the main challenges that these economies are facing and are likely to face in the near future with special emphasis on their major problems and failures. First published in 1984.

Author : M.S. El Azhary
Publisher : Taylor & Francis
ISBN 13 : 1000944565
Total Pages : 216 pages
Book Rating : 4.63/5 ( download)

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Download or read book The Impact of Oil Revenues on Arab Gulf Development written by M.S. El Azhary and published by Taylor & Francis. This book was released on 2023-05-09 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the price of oil fell in the eighties the pressures on the Arab Gulf States to speed up the diversification of their economies into non-oil sectors increased. This book, first published in 1984, examines this problem and many other issues connected with the impact of oil revenues on development in the Gulf States. It considers changing oil production policies and developments in other sectors of the economy including agriculture, industry and banking. It explores population problems, moves towards Gulf economic coordination and the impact of oil on society, culture and education. This book provides an assessment of just how much the region depends on oil for its economic prosperity and development and some indication of the enormous problems that would face the region should the demand for oil decease still further.

Author : Martin Beck
Publisher : Manchester University Press
ISBN 13 : 1526149087
Total Pages : 204 pages
Book Rating : 4.84/5 ( download)

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Download or read book Oil and the political economy in the Middle East written by Martin Beck and published by Manchester University Press. This book was released on 2021-08-17 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: The downhill slide in the global price of crude oil, which started mid-2014, had major repercussions across the Middle East for net oil exporters, as well as importers closely connected to the oil-producing countries from the Gulf. Following the Arab uprisings of 2010 and 2011, the oil price decline represented a second major shock for the region in the early twenty-first century – one that has continued to impose constraints, but also provided opportunities. Offering the first comprehensive analysis of the Middle Eastern political economy in response to the 2014 oil price decline, this book connects oil market dynamics with an understanding of socio-political changes. Inspired by rentierism, the contributors present original studies on Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. The studies reveal a large diversity of country-specific policy adjustment strategies: from the migrant workers in the Arab Gulf, who lost out in the post-2014 period but were incapable of repelling burdensome adjustment policies, to Egypt, Jordan, and Lebanon, who have never been able to fulfil the expectation that they could benefit from the 2014 oil price decline. With timely contributions on the COVID-19-induced oil price crash in 2020, this collection signifies that rentierism still prevails with regard to both empirical dynamics in the Middle East and academic discussions on its political economy.

Author : Reda Cherif
Publisher : International Monetary Fund
ISBN 13 : 1484317424
Total Pages : 212 pages
Book Rating : 4.26/5 ( download)

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Download or read book Breaking the Oil Spell written by Reda Cherif and published by International Monetary Fund. This book was released on 2016-04-15 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: The “Gulf Falcons”—the countries of the Gulf Cooperation Council—have high living standards as a result of large income flows from oil. The decline of oil prices between summer 2014 and fall 2015 underscores the urgency for the Gulf Falcons to diversify away from their current heavy reliance on oil exports. This book discusses attempts at diversification in the Middle East and North Africa and the complex choices policymakers face. It brings together the views of academics and policymakers to offer practical advice for future efforts to increase productivity growth.

Author : Yusuf A. Sayigh
Publisher : Routledge
ISBN 13 : 1317593871
Total Pages : 229 pages
Book Rating : 4.74/5 ( download)

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Download or read book Arab Oil Policies in the 1970s (RLE Economy of Middle East) written by Yusuf A. Sayigh and published by Routledge. This book was released on 2015-05-15 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: Until 1973 few people, either in the advanced, industrial countries or in the developing countries of the Third World, thought seriously on the issues and complexities involved in the production and marketing of the oil on which they relied. It was only with the sudden steep increases in oil prices that the oil industry became a matter of general discussion, and the Organisation of Petroleum Exporting Countries (OPEC) became a front page topic for analysis and comment. However, real understanding of the organisation and its policies did not accompany this rush of interest and much confusion has followed. In particular, the Arab exporters have received the weight of the criticism although they have only a share in the market and not a monopoly. This book attempts to instil a greater mutual understanding between oil exporters and importers, although it is not a wholesale endorsement of Arab policies, by outlining the major policy areas in this field. It looks at new policy options and their implications in exploration, marketing and pricing and at downstream operations such as the petrochemical and gas industries. In conclusion, this study identifies the wide-ranging opportunities that the new oil policies have opened up for the Arab countries, in the national, regional and international context, and assesses and clarifies the responsibilities which accompany this success. First published in 1983.

Author : Annika Kropf
Publisher :
ISBN 13 : 9783940924582
Total Pages : 242 pages
Book Rating : 4.8X/5 ( download)

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Download or read book Oil Export Economies written by Annika Kropf and published by . This book was released on 2016 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite their commonalities, the Arab Gulf States have started economic diversification from different settings and against different political backgrounds. This book applies a multi-method approach including Qualitative Comparative Analysis (QCA) to highlight their heterogeneous economic development trajectories and to compare them to other major oil exporters. From a political economy perspective, it demonstrates how neoclassical economic theory fails to grasp the underlying mechanisms of their development. The research design of this study is tailored to small and medium-sized samples with special characteristics. As such, it offers new opportunities for comparative studies not only of this region but also of other specific samples of countries from a wider perspective of heterodox economics.

Author : Zuhayr Mikdashi
Publisher : Taylor & Francis
ISBN 13 : 1000966542
Total Pages : 240 pages
Book Rating : 4.41/5 ( download)

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Download or read book The Community of Oil Exporting Countries written by Zuhayr Mikdashi and published by Taylor & Francis. This book was released on 2023-10-12 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Community of Oil Exporting Countries (1972) looks at the oil producing countries of the developing world and their economic reliance on oil. This reliance comes with an unwillingness to leave their economic fate to the vagaries of competition, leading to co-operative schemes that protect them from trade receipt fluctuations. This book is a close reading of the situation, and the resulting co-operative efforts.