Download or read book Saudi s Growth and Financial Spillovers to Other GCC Countries An Empirical Analysis written by Mr.Olumuyiwa S Adedeji and published by International Monetary Fund. This book was released on 2018-12-11 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines real and financial linkages between Saudi Arabia and other GCC countries. Growth spillovers from Saudi Arabia to Bahrain are found to be sizeable and statistically significant, but those to other GCC countries are not found to be significant. Equity market movements in Saudi Arabia are found to have significant implications for other GCC countries, while there is no evidence of co-movements in bonds markets. These findings suggest some degree of interdependence among GCC countries.

Download or read book Saudi s Growth and Financial Spillovers to Other GCC Countries written by Olumuyiwa Adedeji and published by . This book was released on 2019 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines real and financial linkages between Saudi Arabia and other GCC countries. Growth spillovers from Saudi Arabia to Bahrain are found to be sizeable and statistically significant, but those to other GCC countries are not found to be significant. Equity market movements in Saudi Arabia are found to have significant implications for other GCC countries, while there is no evidence of co-movements in bonds markets. These findings suggest some degree of interdependence among GCC countries.

Download or read book Saudi s Growth and Financial Spillovers to Other GCC Countries An Empirical Analysis written by Mr.Olumuyiwa S Adedeji and published by International Monetary Fund. This book was released on 2018-12-11 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines real and financial linkages between Saudi Arabia and other GCC countries. Growth spillovers from Saudi Arabia to Bahrain are found to be sizeable and statistically significant, but those to other GCC countries are not found to be significant. Equity market movements in Saudi Arabia are found to have significant implications for other GCC countries, while there is no evidence of co-movements in bonds markets. These findings suggest some degree of interdependence among GCC countries.

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.

Download or read book Gulf Cooperation Council Countries GCC written by Samya Beidas-Strom and published by . This book was released on 2011-10-02 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Saudi Arabia written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2019-09-09 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper explores policies to drive diversification for Saudi Arabia. Diversification is needed to create jobs for Saudis and to mitigate the impact of uncertainty in oil markets. Although the business climate should be improved, and remaining infrastructure gaps addressed, reforms need to go beyond these areas. Diversification in Saudi Arabia that creates jobs for nationals could be held back by the effects of relatively high wages and their impact on cost competitiveness. Creative solutions are needed to address the impact of high government wages and employment on competitiveness. Industrial policy could help overcome the incentives that encourage companies to focus on the nontradable sector, but should be handled carefully, keeping lessons from other countries’ experiences in mind. Export orientation and competition are crucial mechanisms to ensure discipline. Strengthening human capital to raise productivity and provide workers with the skills needed in the private sector will be essential to success.

Download or read book Impact of the Global Financial Crisis on the Gulf Cooperation Council Countries and Challenges Ahead written by Ms.May Y Khamis and published by International Monetary Fund. This book was released on 2010-07-21 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book International Macroeconomics in the Wake of the Global Financial Crisis written by Laurent Ferrara and published by Springer. This book was released on 2018-06-13 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.

Download or read book The Economic Impact of Conflicts and the Refugee Crisis in the Middle East and North Africa written by Mr.Bjoern Rother and published by International Monetary Fund. This book was released on 2016-09-16 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent decades, the Middle East and North Africa region (MENA) has experienced more frequent and severe conflicts than in any other region of the world, exacting a devastating human toll. The region now faces unprecedented challenges, including the emergence of violent non-state actors, significant destruction, and a refugee crisis bigger than any since World War II. This paper raises awareness of the economic costs of conflicts on the countries directly involved and on their neighbors. It argues that appropriate macroeconomic policies can help mitigate the impact of conflicts in the short term, and that fostering higher and more inclusive growth can help address some of the root causes of conflicts over the long term. The paper also highlights the crucial role of external partners, including the IMF, in helping MENA countries tackle these challenges.

Download or read book Global Financial Stability Report April 2016 written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2016-04-11 with total page 135 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current Global Financial Stability Report (April 2016) finds that global financial stability risks have risen since the last report in October 2015. The new report finds that the outlook has deteriorated in advanced economies because of heightened uncertainty and setbacks to growth and confidence, while declines in oil and commodity prices and slower growth have kept risks elevated in emerging markets. These developments have tightened financial conditions, reduced risk appetite, raised credit risks, and stymied balance sheet repair. A broad-based policy response is needed to secure financial stability. Advanced economies must deal with crisis legacy issues, emerging markets need to bolster their resilience to global headwinds, and the resilience of market liquidity should be enhanced. The report also examines financial spillovers from emerging market economies and finds that they have risen substantially. This implies that when assessing macro-financial conditions, policymakers may need to increasingly take into account economic developments in emerging market economies. Finally, the report assesses changes in the systemic importance of insurers, finding that across advanced economies the contribution of life insurers to systemic risk has increased in recent years. The results suggest that supervisors and regulators should take a more macroprudential approach to the sector.

Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.

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...

Download or read book World Economic Outlook October 2013 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2013-10-08 with total page 657 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global growth is in low gear, and the drivers of activity are changing. These dynamics raise new policy challenges. Advanced economies are growing again but must continue financial sector repair, pursue fiscal consolidation, and spur job growth. Emerging market economies face the dual challenges of slowing growth and tighter global financial conditions. This issue of the World Economic Outlook examines the potential spillovers from these transitions and the appropriate policy responses. Chapter 3 explores how output comovements are influenced by policy and financial shocks, growth surprises, and other linkages. Chapter 4 assesses why certain emerging market economies were able to avoid the classical boom-and-bust cycle in the face of volatile capital flows during the global financial crisis.

Download or read book Economic Growth and Government Spending in Saudi Arabia written by Mr.Saad A. Alshahrani and published by International Monetary Fund. This book was released on 2014-01-13 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper empirically examines the effects of different types of government expenditures, on economic growth in Saudi Arabia. We use different econometric techniques to estimate the short- and long-run effects of these expenditures on growth and employ annual data over the period 1969-2010. Our findings indicate that while private domestic and public investments, as well as healthcare expenditure, stimulate growth in the long-run, openness to trade and spending in the housing sector can also boost short-run production. These findings draw some policy implications for Saudi policymakers on maximizing the returns of the government spending on economic growth.

Download or read book The Gulf Cooperation Council at Forty written by Tarik M. Yousef and published by Brookings Institution Press. This book was released on 2023-02-22 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: All of the GCC countries—Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates—are undergoing historic socio-economic transitions. They are facing enormous strains on public finances and challenging economic outlooks, due to fluctuating oil prices, demographic pressures, high unemployment rates, and a lack of economic diversification. These countries also are likely to feel the rising impact of climate change, and global policies to deal with it, over the coming decades. In addition, seemingly unstoppable shifts in the long-standing international order, notably the rise of China and uncertainties about U.S. leadership, have potentially serious implications for the Middle East and beyond. This by noted scholars and experts considers the key trends shaping Gulf Cooperation Council (GCC) countries--Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirate-- ranging from the COVID-19 pandemic, to climate change, economic disruptions, demographics and other domestic concerns, and shifts in the global order. The book’s chapters address such questions as: How will global megatrends impact the GCC? How can GCC states adjust and diversify their economies to meet the dual challenges of fluctuating oil prices and climate change? How can these states adjust their labor markets to absorb and support women and youth? How will inter GCC disagreements impact the region moving forward? And how will GCC relations with international actors shift in the coming years? This timely book, with its comprehensive analyses and policy recommendations, will be of interest to a wide range of readers interested in the GCC region, including policymakers, academics, and researchers at think tanks and nongovernmental organizations.

Download or read book The Saudi Arabian Economy written by Mohamed A. Ramady and published by Springer Science & Business Media. This book was released on 2010-09-05 with total page 516 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book U S Monetary Policy Spillovers to GCC Countries Do Oil Prices Matter written by Mr.Olumuyiwa S Adedeji and published by International Monetary Fund. This book was released on 2019-12-27 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.