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 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 Economic Diversification in the Gulf Region Volume I written by Ashraf Mishrif and published by Springer. This book was released on 2017-12-27 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume focuses on the role of the private sector in diversifying the economics of Gulf countries in the post-petrodollar era, when fluctuating and declining oil prices are negatively impacting national expenditures. It explores current policies of countries in the Gulf Cooperation Council and their efforts to shift their economies away from heavy dependence on hydrocarbons. The structural changes will create favorable conditions for the private sector to flourish, shift production dependence from public to private sector, and allow for more efficient resource allocation. Such changes will also allow local banks to provide financial support to small and medium enterprises, boost entrepreneurship for job creation, and strengthen organizational structure and efficiency. This is the first volume in Economic Diversification in the Gulf Region.
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.
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.
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.
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.
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.
Download or read book The Community of Oil Exporting Countries written by Zuhayr Mikdashi and published by Taylor & Francis. This book was released on 2023-10-11 with total page 211 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.
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.
Download or read book Oil Exporters Economic Development in an Interdependent World written by Jahangir Amuzegar and published by International Monetary Fund. This book was released on 1983-04-06 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: Not unpredictably, there is a complex energy bind as we approach the end of the twentieth century. The oil importing industrial countries have anchored their industries, their means of transportation, their home comfort- in short, their whole energy-dependent lifestyle-largely to hydrocarbon fuels.
Download or read book The Oil Companies and the Arab World written by Giacomo Luciani and published by Routledge. This book was released on 2016-03-02 with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt: For many years, vertical integration characterized the international oil industry, with the same company controlling the entire process from crude exploration and production to the retailing. This structure was radically transformed in the 1970s and this book, originally published in 1984, examines whether the dis-integration which resulted was a long-term trend or a temporary phase. It examines the attitude of the major international oil companies, discusses the policies adopted by oil producing and oil importing countries, and the limits of ‘government to government’ deals underlined. The political and strategic implications of re-integration are explored, and relations between oil exporters and importers, and between the USA, Europe and the Arab world discussed.
Download or read book Economic Diversification and Development in Saudi Arabia written by Rashid Masood and published by . This book was released on 1989 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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:
Download or read book Understanding and Avoiding the Oil Curse in Resource rich Arab written by Ibrahim Elbadawi and published by Cambridge University Press. This book was released on 2016-07-14 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: A variety of perspectives from leading economists provides fresh insight into how Arab countries may best exploit their oil revenues.
Download or read book Arab Oil written by Naiem A. Sherbiny and published by Greenwood. This book was released on 1976 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essays on economic implications and political aspects of Arab petroleum for Arab country and international economic relations - examines OAPEC pricing policies, production, industrialization, political development and cultural change with case studies of Saudi Arabia and North Africa; discusses trade policies, capital flows, surplus capital resources and global energy needs; considers USA and USSR foreign policy towards Middle East oil and the Arab-Israeli conflict. References, statistical tables.
Download or read book Middle East Oil Exporters written by Hossein Askari and published by Edward Elgar Publishing. This book was released on 2007-01-01 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume is unique and unprecedented in the way that it ties together various political and economic dimensions to draw a picture of the future Middle East scenarios. It gives us a far-reaching analysis of the reasons underlying economic conditions in the major oil-exporting countries of the Middle East. It also provides a comprehensive and positive blueprint for a social, political and economic turnaround. Hossein Askari s insider experience in most of these countries makes this valuable work a must-read for specialists and students of the area. Hossein Razavi, Director of Finance, Private Sector and Infrastructure Department, Middle East and North Africa Region, The World Bank, US Anyone who wants to grasp the economic status of this rather special, perhaps unique, part of the world will find here a knowledgeable and assiduous guide. Secondly, the book presents a strong and uncompromising argument about what these countries must do, and what the West must do, to improve the economic performance and social fabric of the MENA region, and thus better the daily lives of the inhabitants. From the foreword by Robert M. Solow, Nobel Laureate, Massachusetts Institute of Technology, US Hossein Askari argues here that economic and social failure in the oil-exporting countries of the Middle East is a result of much more than simply shortcomings in economic policies. He analyzes religion, corruption, instability, wars and foreign interference as factors affecting the region and offers solutions that incorporate Islamic teachings, regional peace efforts, market-oriented economic policies, sound institutions and unselfish policy support from the West. Middle East Oil Exporters presents a detailed picture of the economic structure and a critical survey of the recent economic performance of the Middle East. The focus is especially on the large oil-exporting nations, although the smaller producers are represented as well. The author illustrates how oil has become a crutch to avoid reforms, destroying the work ethic of the region, fuelling corruption and poisoning the social and cultural fabric of society to keep unpopular governments in power. In addition, he provides a view of the social, economic, and political implications of Islamic doctrine. In this context he examines the institutions of governance and determines that they have performed poorly, often in blatant violation of Islamic principles. This in-depth analysis is accompanied by a comprehensive prescription for a turnaround in the Middle East. Hossein Askari s unique and insightful critique is essential reading for students and scholars of the Middle East, as well as policymakers involved in the region. Executives of financial institutions and private corporations will also want to understand the region for their energy needs and as a market for their products and services.
