Back Matter

Back Matter

Author(s):
Raphael Espinoza, Ghada Fayad, and Ananthakrishnan Prasad
Published Date:
November 2013
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    Index

    • Abdalla, M., 49
    • Abreu, M., 32
    • Abu Dhabi 8, 10, 71, 146
      • financial markets 150, 151, 153, 155–7, 165
    • Acemoglu, D., 36
    • Agénor, P. R., 3
    • Al-Hamidy, A., 2
    • Al-Jasser, M., 2
    • Aghion, P., 86
    • aid 11, 166–7, 172–6
    • Ali, A. A. G., 18
    • Altman, E. I., 140
    • Anderson, R., 138
    • appreciation 40, 51, 54, 56, 114, 121
    • Araujo, J., 4
    • Arellano, M., 140, 141, 142
    • Artadi, E., 25, 33
    • asset prices 7–9, 17,113, 121–2, 134, 138, 145
    • Aten, B., 16, 19
    • Baele, L., 116
    • Bahrain 1, 2, 5, 6, 7, 10, 171
      • financial markets 149, 151, 153–5
      • fiscal policy 86, 88, 89, 94, 101–4, 108, 109
      • long-term growth 13–16, 18–29, 37
      • migration 41, 43–46, 48–9, 51–2
      • monetary policy 113–21, 133, 134
      • loans/stability 134–7, 146
      • spending, subsidies, and efficiency 65–6, 70–1
    • Baldwin-Edwards, M., 46
    • banks 2, 3, 7, 8–10, 22, 50, 65, 66, 78, 84, 108, 112–22, 131, 134–9, 141–3, 145–6, 149–65, 167–8, 170, 173
      • central 3, 8, 65, 112–16, 122, 131
      • credit 7, 112
      • commercial 8, 87, 84, 152, 154
      • distress 150, 160, 164
      • interconnectedness 149–65
      • lending 50, 120–1, 137
      • sector 8, 9, 120, 135, 145, 149–50, 153–4, 165
      • system 8–10, 113, 120, 134–5, 145, 149–50, 149–65
    • Barajas, A., 145
    • Barro, R., 25, 26, 30, 33, 35
    • Bercoff, J., 138
    • Bertola, G., 86
    • Billmeier, A., 35
    • Binder, M., 59
    • Blanchard, O., 91
    • Blundell, R., 140
    • Bond, S., 140, 141, 142
    • Bondt, G. de, 117
    • Bova, E., 115
    • Bover, O., 141
    • business cycle 91–2, 105, 138, 139, 143
    • capital:
      • adequacy ratios 9, 135, 140–1
      • depreciation 23, 31, 138
      • expenditure 89–98, 109, 114
      • human 15, 24–6, 29, 36, 54, 77
      • inflow 1, 9, 113
      • intensity 13, 23–4, 27, 67, 72
      • outflow 112, 115
      • physical 3, 15, 31, 33, 54, 170
      • public 73–5
      • stock 21–6, 29–30, 81
      • type 29–30, 56
    • capitalization 9, 135, 149–53
    • Carey, M., 140
    • Caselli, F., 23, 25, 29, 30
    • Cherif, R., 4
    • Christiano, L. J., 122, 123
    • Chu, C., 123, 145
    • Ciccarelli, M., 145
    • Cobham, D., 4
    • cointegration 26, 58, 115, 118
    • Collin-Dufresne, P., 138
    • commodities 7, 41, 76–7, 113, 122–5, 131–2, 131
    • competitiveness 6–7, 21, 40, 61
    • complementarity 29, 166, 170–2
    • consumption 9, 15, 17, 33, 35, 57, 58, 72–6, 83, 90, 108, 121, 123
    • contagion 9, 10, 149–50, 154, 156, 160–1, 165
    • convergence 2, 31–2, 59, 116
    • Corden, W. M., 53, 57
    • correlation 9–10, 36, 56, 59–60, 68, 91, 95, 104, 122–4, 141, 152–3, 172
    • CoVar 150, 158–64
    • countercyclical 8, 31, 86–8, 91, 102, 105, 110
    • credit risk 134, 136, 138–9, 143, 165
    • crisis:
      • Asian 139, 142, 176
      • global financial 4, 7–10, 89, 106, 108, 112, 115–16, 131, 134–5, 137, 149–53, 156, 159–61, 165–7
      • Greek 152
    • current account 3, 8
    • curse 6, 15, 28, 34, 37, 39, 40, 85, 110
    • D’Arcy, P., 138
    • determinants 4, 90, 167, 170
      • long-term growth 13, 15–16, 19, 31
      • migration 41, 56, 58, 60
      • financial stability 137–9, 142
    • Dhal, D., 139
    • Dhal, S. C., 138
    • Dibeh, G., 4
    • distress dependence 158–60
    • diversification 1, 91
      • long-term growth 14–15, 18, 20–1, 24
      • migration 40, 50, 60–1
      • spending, subsidies and efficiency 65–7, 70–2
    • Dixit, A., 51
    • Docquier, A., 44, 45
    • Doucouliagos, H., 36
    • Drehmann, M., 135
    • Duan, J. C., 138
    • Dubai 7, 9, 10, 51, 146
      • financial markets 150–8, 161, 165
    • Dutch disease 6, 21, 34, 40–1, 50, 54–5, 60–1
    • economic cycle 4, 87–8, 95, 102, 137, 159
    • econometric estimate 15, 92, 109
    • economic union 2
    • Edwards, S., 35
    • education 14–15, 19, 24–5, 31, 33, 45–7, 49, 65–6, 73–4, 77, 79, 83, 109, 174
    • Efron, B., 119
    • Eichenbaum, M., 122, 123
    • elasticity 21, 25, 31, 49, 54–5, 60, 62, 76–7, 83, 92–3, 100–4, 116–7, 131–3, 137, 176
    • electricity 70–1, 74, 77
    • employment 13, 16, 18, 25, 40–2, 45–50, 61, 66–7, 74, 79–84, 91, 121, 138–9
    • equipment 15, 29–30, 56
    • Espinoza, R., 34, 86, 116, 152
    • Europe 30, 45, 145, 149, 152, 158, 160–1
    • Evans, C. L., 122, 123
    • exchange rate 2–8, 35, 138, 140
      • fixed 90, 108, 112–32, 145, 176
      • real 6, 7, 40–1, 51, 53–4, 56–61
    • exports 3, 5–8, 13–14, 17–19, 26, 28, 32–5, 37, 40–1, 56–8, 60–1, 69–74, 83, 86–9, 113, 166, 168–72
      • hydrocarbon 19, 21, 52, 65, 72, 88–9
      • non-oil 40, 50–2, 60, 71
      • total 40, 50–1, 121, 169
    • exposure 7, 9, 134–5, 138, 145, 149–50, 160–1, 163
    • Fasano, U., 49, 89
    • FDI 11, 72, 166–7, 172, 176
    • Federici, D., 171
    • Feenstra, R., 29, 30
    • Felipe, J., 15
    • financial liberalization 34, 150
    • financial stability 137, 165
    • fiscal multiplier 90, 92, 101
    • fiscal policy 86, 95, 102
    • Fischer, S., 33
    • foreign aid 11, 166–7, 172–4
    • foreign workers 7, 13, 21, 40, 42, 45–6, 49, 53–5, 60–1, 83, 90, 139
    • Florax, R. J. G. M., 32
    • foreign direct investment 151, 170–1, 176
    • foreign reserves 87
    • Frankel, J., 2
    • Fuentes, R., 138
    • gas 4–5, 18, 21, 24, 71–3, 106
    • Gao, T., 171
    • Ghosh, A., 34
    • Giannetti, M., 171
    • Giorno, C., 91
    • Giovanni, J. di, 138
    • global crisis 7–10, 106, 108, 112, 115, 134, 149–50, 152, 156, 160–62, 165, 166–7
    • Goldstein, R., 138
    • Gould, D.M., 168
    • Goyal, R., 49
    • Grimard, F., 138
    • Groot, H. L. F. de, 32
    • Gross domestic product/GDP 2, 4, 6, 13–18, 20–3, 25–35, 37, 44–5, 50, 56, 69, 71, 74, 83–96, 100–101, 123–4, 131–2, 138, 139, 141–3, 145, 155–6, 167–8, 171, 173–5
    • growth, long-term 4, 6, 13, 15, 16, 20, 31, 77, 86
    • growth-accounting:
      • model 15
      • framework 15
      • literature 25, 31
      • exercise 15, 23, 25–6, 68
    • Gylfason, T., 60
    • Hakura, D., 31
    • Hall, R. E., 24
    • Hanson, M. S., 122, 130, 131, 133
    • Hasanov, F., 4
    • Head, K., 168
    • Heston, A., 16, 19
    • Hnatkovska, V., 34, 86
    • Hofmann, B., 116
    • Holtz-Eakin, D., 141
    • Hughes, J. P., 139
    • human development index 13, 19, 49
    • Hydrocarbon 18–21, 51, 88–9
    • Ilahi, N., 176
    • Ilzetzki, E., 90, 92, 95
    • Im, K., 58
    • IMF 4, 14, 16–20, 23–4, 26–8, 32, 51–2, 66, 78, 87, 92–4, 97, 107, 109–10, 113, 114, 123–5, 137, 138, 169
    • imports 2, 17, 35, 41–2, 53–4, 56–7, 60–1, 90, 109, 114–15, 123, 168–9
      • capital goods 29–30, 89, 114
      • and migration 60, 168
    • impulse response 92, 100, 102–3, 105, 118–19, 130–5, 144
    • incentive 7, 33, 44, 67, 72–3, 79–81, 171
    • inflation 32, 33
    • infrastructure 13, 19, 42, 44, 50, 56, 65, 67, 70, 74, 109
    • institutions 29–32, 35–7, 68, 83, 151, 173
      • credit 50, 66
      • financial 7, 10, 86, 149
      • government/political/legal 29, 113
      • quality of 15, 32, 34, 36, 70, 86
    • integration 1, 2, 3, 11, 26, 44, 152
    • interbank:
      • liquidity 8
      • market 8, 113, 159
      • rates 2, 115–21
    • interconnectedness 149–50, 158, 161, 165
    • interest rate 2, 78, 90, 92–3, 95, 112–18, 120–2, 134, 137–9, 141–3, 145, 173
      • ceiling/cap 116, 120, 134
      • domestic/local 8, 87, 112, 122
      • increase 8, 121–2, 132, 137, 142–5
      • policy 8, 113
    • inverse Ramsey model 67, 73–4
    • investment 3, 7–10, 14–17, 23–6, 29, 33, 86, 88–90, 94, 115, 121
      • companies 7, 10, 135, 146, 152–4
      • foreign 151, 170–1
      • non-oil 21, 25
      • oil 21, 25
      • public 67–76, 83, 88, 106
    • Islam, F., 88
    • Ivlevs, A., 171
    • Jacques, K., 139
    • Javorcik, B. S., 170
    • Johnson, S., 36
    • Jones, C. I., 24
    • Kao, C., 58
    • Kapiszewski, A., 42, 43
    • Keeton, W. R., 138, 145
    • Kent, C., 138
    • Khamis, M., 134, 154
    • Khan, M. S., 34
    • Kida, M., 145
    • Kose, M. A., 34, 86
    • Kugler, M., 170, 171
    • Kuwait 1, 2, 5, 6, 7, 8–11, 167, 171–3
      • financial markets 150, 151, 153–5
      • fiscal policy 87, 89, 94, 101–4, 106–7
      • long-term growth 13–14, 16, 18–25, 27–9, 33–4, 37
      • migration 43–6, 48–52
      • monetary policy 112–21, 133, 134
      • loans/stability 134–6, 146
      • spending, subsidies, and efficiency 65–6, 70–1, 73
    • Kwapil, C., 117
    • labor force 1, 4, 13–15, 30, 40–3, 170
      • female 42, 49, 79
      • foreign 1, 7, 13, 40, 43, 52, 80, 90, 139
      • growth of 41–2, 47, 54, 78
      • indigenous/national 40, 52, 139
      • education/skills of 15, 24, 29
    • Lee, H. Y., 35
    • Lee, J. W., 25
    • Leon, H., 34
    • Levin, A., 123, 145
    • Levine, R., 33, 138
    • Li, B., 4
    • Lin, F., 123, 145
    • linkage 1, 7, 10, 166–7
    • liquidity 7–8, 10, 86, 95, 112–13, 134–5, 151–2, 161, 165
    • Loayza, N., 34, 86
    • Love, I., 145
    • Lucas, R. E. B., 43
    • McCallum, J., 2
    • McDonald, R., 86
    • macroeconomic:
      • cycle 137
      • policy 4, 7, 29
      • stability 31, 33–4, 86–110, 170
    • Makdisi, S., 35
    • Mankiw, N. G., 31
    • Maquieira, C., 138
    • Melo, J., 171
    • Mendoza, E. G., 35, 90
    • migrant 15, 16, 24, 40–5, 52–7, 60, 81, 167–72
    • migration 1, 33, 40–5, 49–51, 54–7, 59–61, 166–8, 170–1
    • Miniane, J., 122, 130
    • Mizen, P., 116
    • money market 3, 112, 134
    • Montiel, P. J., 56
    • Mookerjee, R., 35
    • monetary policy 3, 8, 87, 90, 112–17, 121–5, 131–33
    • monetary union 1–4
    • mortgage 9–10, 74, 83
    • Mountford, A., 92
    • Mueller, C., 138
    • Mundell, R. A., 3, 90
    • Nakibullah, A., 88
    • Nandini, D., 36
    • Nannicini, T., 35
    • nationalization 42, 49–50, 61
    • natural resource 6, 17, 39, 85, 166
    • Neagu, C., 170
    • Newey, W., 141
    • Nigro, P., 139
    • Nijkamp, P., 33
    • nonperforming loans 9, 134–46
    • non-oil GDP 14, 18, 21–2, 26–8, 30, 33, 50, 56, 69, 87–9, 93, 95, 101–9, 130–3, 142–5, 174
    • non-oil growth 18, 21, 87–8, 93–4, 95, 100, 102–4, 106, 122, 143
    • Norman, V., 51
    • Offermanns, C. J., 59
    • oil revenues 14, 18, 20, 33, 52, 58, 60, 65, 67, 68, 71, 73–4, 78, 83, 88–9, 91, 100–1, 103, 132, 139
    • Oman 1, 2, 5, 171–2
      • financial markets 151, 153–5
      • fiscal policy 87, 89, 94, 101–4, 106, 108, 110
      • long-term growth 13–14, 16, 18–22, 24–29, 37
      • migration 40–6, 50–2
      • monetary policy 113–21, 123, 133–4
      • loans/stability 134, 135–7, 146
      • spending, subsidies, and efficiency 66–8, 71–2, 79
    • openness 29, 32, 33, 35, 56, 166
    • optimal policy 75
    • optimal taxation 67, 74
    • optimal spending 4
    • orthogonalization 100–5, 118–28, 141
    • outflow 41
    • Ozden, C., 170
    • Pallage, S., 172
    • Panel 1, 8, 9, 41, 58–9, 61, 76, 79, 81, 88, 90, 92–3, 95, 96, 98, 101, 117, 121–4, 128, 131–4, 137, 139–40, 144–5, 163, 167–8, 174
    • pass-through 113, 116–17, 120, 134
    • Peltonen, T. A., 9
    • Perotti, R., 91, 92
    • Pesaran, M. H., 58, 59
    • Phillips, S., 34
    • Plant, R., 43
    • Ploeg, F. van der 4, 34, 56, 86
    • Poelhekke, S., 34, 86
    • Poot, J., 33
    • Poplawski-Ribeiro, M., 4
    • Prasad, A., 34, 116, 152
    • private sector 6, 17, 40, 42, 45–9, 61, 65, 67, 70, 72, 74–5, 78–84, 90, 174
    • probability of default 150, 156, 159, 161
    • pro-cyclical 88, 92, 102–3, 110
    • productivity 6, 13, 15, 16, 23, 25, 27, 29, 33, 37, 54, 56, 68–9, 71, 75, 170
      • total factor 15, 25, 27, 29, 37, 69
    • Psacharopoulos, G., 24
    • public investment 67–70, 75, 76, 83, 88, 106
    • public sector 33, 42, 45–9, 53, 55, 67–8, 74, 78–80, 82–3, 90, 153
    • Qatar 1–2, 5, 8–9, 11, 13–16, 18–22, 24–6, 29, 32–4, 36–7, 40, 42–52, 65–6, 68, 70–3, 87, 89, 94, 101–4, 106–7, 113–21, 123, 133, 134–6, 146, 151–5, 171–3
    • Rajan, R., 138
    • Ramey, G., 34, 86
    • Ramey, V., 34, 86
    • Rapoport, H., 170, 171
    • Rauch, J. E., 168
    • real exchange rate 6–7, 40–1, 51, 53–4, 56–61
    • remittances 7, 11, 41–5, 51, 55–7, 59, 90, 166–8, 176
    • Renelt, D., 33
    • reserves 2, 3, 5, 8, 19, 65, 71, 73, 87, 112, 114, 121, 138
    • resource curse 6, 15, 28, 34, 37, 40, 110
    • Ricci, L. A., 35
    • Ries, J., 168
    • Rigobon, R., 35
    • rights 2, 31, 36
      • of migrants 41–3
    • Robe, M., 172
    • Rodriguez, F., 35
    • Rodrik, D., 35
    • Rogers, J. H., 122, 130
    • Romer, C., 92
    • Romer, D., 31, 91
    • Roodman, D., 141
    • Rose, A., 2
    • Rosen, H. S., 141
    • Ruhs, M., 44
    • Runkle, D. E., 130
    • Ruppert, E., 61
    • Rutledge, J. E., 4
    • Sachs, J. D., 6, 28, 33, 35
    • Sala-i-Martin, X., 25, 26, 31, 32, 33, 35, 73
    • Salas, V., 138
    • Sarel, M., 33
    • Saudi Arabia 1, 2, 5–6, 8–11, 167, 171–2
      • financial markets 149–61, 163–5
      • fiscal policy 87, 89, 93–4, 100–5, 109–10
      • long-term growth 13–29, 34, 36–7
      • migration 40–50
      • monetary policy 113–17, 133–34
      • loans/stability 134–6, 139, 146
      • spending, subsidies, and efficiency 65–68, 70–3, 78–9, 82
    • Saurina, J., 138
    • Scharler, J., 117
    • schooling 24–5, 28, 170
    • segmentation 41–2, 45, 49
    • Sellon, Jr, G., 117
    • Senhadji, A. 26, 34, 86, 134
    • Setser, B., 8
    • Shendy, R., 176
    • Shin, Y., 58, 59
    • Shrieves, R., 139
    • Siegel, D., 86
    • Sims, C., 122, 130
    • Smith, R., 56
    • Solow, R. M., 15, 31, 32
    • Sorge, M., 138
    • sovereign wealth fund 8, 9, 65, 152
    • Spatareanu, M., 170
    • Spilimbergo, A., 91
    • spillover 10–11, 71–2, 88, 132, 150, 152, 158, 160–1, 163–5, 166, 174–5
    • spending 4, 8, 17, 54, 56–8, 60–1, 65–8, 70, 74, 77–8, 83, 87–94, 95, 100–6, 108–10, 114, 130, 132–3, 141
      • boom 60–1
      • capital 90, 95, 109, 114
      • government/fiscal 4, 8, 56–60, 65–84, 88–95, 100–9, 123, 132–3
      • elasticity of 100–3, 131–3
    • stability 4, 9, 10, 31, 33–4, 67, 86–110, 132, 134–45, 159, 161, 163, 165, 170
    • stock market 7, 9–10, 115, 135, 139, 149, 150–3, 155
    • stress test 135, 137–8
    • structural 1, 4–7, 33, 42, 56, 61, 65, 91–2, 105, 122, 135, 153, 156, 166, 176
    • subsidies 7, 21, 51, 65, 67, 70–83, 114, 176
    • Sundaresan, S., 138
    • Summers, H. A. R., 16, 19
    • Swan, T. W., 31
    • Systemic 9–10, 138, 143, 149–50, 158–9, 162–5
    • taxes 17, 57, 67, 73–6, 78, 80, 83, 88–9, 91, 108–9
    • Tibshirani, R. J., 119
    • total factor productivity 15, 25, 27, 29–37, 69
    • trade 2–3, 11, 22, 29–32, 34–5, 37, 41, 51–6, 59, 61, 106, 114, 139, 142–3, 166–71, 177
      • international 2–3, 139, 142–3, 166–70, 175–6
      • non-traded goods 52–6, 61
      • openness 29, 32, 33, 35, 56
      • terms of 31–2, 34–5, 37, 56
    • transmission 7, 117, 121–2, 134, 152, 168, 176
    • Trinidade, V., 168
    • Ugur, M., 36
    • Uhlig, H., 92
    • Ulubasoglu, M. H., 36
    • unemployment 13, 41–2, 46, 47–50, 66, 79–84, 91, 138, 139
    • UAE, see United Arab Emirates
    • United Arab Emirates 1, 2, 5, 6, 9–11, 167, 170–3
      • financial markets 149–165
      • fiscal policy 87, 89, 93–4, 100–4, 106
      • long-term growth 13–14, 16, 18–30, 32, 36–7
      • migration 40, 43–5, 48, 50–2
      • monetary policy 113–17, 123, 133–4
      • loans/stability 134–6, 146
      • spending, subsidies, and efficiency 65–6, 69–71, 73–4
    • United Nations 13, 14, 16–19, 43–4
    • United Kingdom 28, 57, 65, 116, 160–1
    • United States 15, 115–16, 158, 160–1 169
    • VAR 8, 88–9, 91–2, 95, 100–2, 104–5, 108–10, 113, 116–18, 120–6, 131–3, 144–5
      • Annual data panel VAR 123–5
      • Quarterly data panel VAR 131
    • vector auto-regression, see VAR
    • Végh, C., 90, 92, 95, 109
    • Venables, A. J., 4, 56
    • volatility 9, 32, 34, 86–7, 104, 106, 110, 134, 150, 152–3, 156, 172
    • wage 26, 42–3, 45–9, 53–5, 65, 67, 70, 73–5, 78–83, 88, 90
      • disparities 42, 45–7, 78
    • Wang, Q., 89
    • Warner, A. M., 6, 28, 33, 35
    • Weil, D. N., 31
    • welfare 52, 54, 65–6, 76–7
    • Wijnbergen, S. van, 41, 57
    • Williams, O., 116, 152
    • Wilson, D. J., 29, 30
    • windfall 4, 40–1, 53–6, 58, 60–1, 64, 80, 83, 166
    • Woodford, M., 89, 90
    • workforce 43–4, 50, 170
    • World Bank 16, 25, 40, 66, 70, 167–8
    • Zanna, L.-F., 4
    • Zha, T., 130
    • Zicchino, L., 145
    • Ziemba, R., 8
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