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8. Financial Markets in the GCC Countries

8. Financial Markets in the GCC Countries »

Source: The Macroeconomics of the Arab States of the Gulf

Series: Books

Author(s): Raphael Espinoza , Ghada Fayad , and Ananthakrishnan Prasad

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 November 2013

ISBN: 9780199683796

Keywords: oil, monetary policy, fiscal policy, expenditure, oil prices

8.1 Introduction As the global economic crisis took hold, the GCC countries’ financial systems found themselves affected through contagion despite the relatively low direct exposure...

5. Fiscal Policy for Macroeconomic Stability

5. Fiscal Policy for Macroeconomic Stability »

Source: The Macroeconomics of the Arab States of the Gulf

Series: Books

Author(s): Raphael Espinoza , Ghada Fayad , and Ananthakrishnan Prasad

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 November 2013

ISBN: 9780199683796

Keywords: oil, monetary policy, fiscal policy, expenditure, oil prices

5.1 Introduction Macroeconomic stability is important for long-term growth and the literature has discussed several channels through which volatility can reduce growth....

4. Government Spending, Subsidies, and Economic Efficiency

4. Government Spending, Subsidies, and Economic Efficiency »

Source: The Macroeconomics of the Arab States of the Gulf

Series: Books

Author(s): Raphael Espinoza , Ghada Fayad , and Ananthakrishnan Prasad

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 November 2013

ISBN: 9780199683796

Keywords: oil, monetary policy, fiscal policy, expenditure, oil prices

4.1 Introduction The activities of the government have a heightened importance in the Gulf countries because oil revenues accrue to the government and the way they are spent or saved...

I Overview

I Overview »

Source: Monetary Union Among Member Countries of the Gulf Cooperation Council

Series: Occasional Papers

Author(s): Ugo Fasano-Filho , and Andrea Schaechter

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 August 2003

ISBN: 9781589062191

Keywords: monetary union, central bank, monetary policy, monetary unions, oil prices

The Heads of States of the Cooperation Council for the Arab States of the Gulf (GCC) decided at the end of 2001 to deepen economic integration by establishing a common currency—pegged to the U.S. dollar—by 2...

II Progress Toward Economic Integration and Convergence Among GCC Countries

II Progress Toward Economic Integration and Convergence Among GCC Countries »

Source: Monetary Union Among Member Countries of the Gulf Cooperation Council

Series: Occasional Papers

Author(s): Ugo Fasano-Filho , and Andrea Schaechter

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 August 2003

ISBN: 9781589062191

Keywords: monetary union, central bank, monetary policy, monetary unions, oil prices

Over the past two decades, the GCC countries have taken important steps to achieve economic and financial integration among them. They have lifted formal impediments to the free movement of national goods, l...

III Main Lessons from the Experience of Monetary Unions

III Main Lessons from the Experience of Monetary Unions »

Source: Monetary Union Among Member Countries of the Gulf Cooperation Council

Series: Occasional Papers

Author(s): Ugo Fasano-Filho , and Andrea Schaechter

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 August 2003

ISBN: 9781589062191

Keywords: monetary union, central bank, monetary policy, monetary unions, oil prices

In a “full” monetary union, independent nation states adopt a single monetary policy and a common currency. This is characterized by a single external exchange rate policy, as well as the permanent absence o...

IMF Executive Board Concludes 2015 Article IV Consultation with Qatar

IMF Executive Board Concludes 2015 Article IV Consultation with Qatar »

Source: Qatar : Staff Report for the 2015 Article IV Consultation

Volume/Issue: 2015/86

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 April 2015

ISBN: 9781475517408

Keywords: market, monetary fund, oil price, investment

This 2015 Article IV Consultation highlights that Qatar is implementing an ambitious diversification strategy, while retaining its systemic role in the global natural gas market. Qatar accounts for one-third of glo...

Qatar
			: Staff Report for the 2015 Article IV Consultation

Qatar : Staff Report for the 2015 Article IV Consultation »

Volume/Issue: 2015/86

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 April 2015

DOI: http://dx.doi.org/10.5089/9781475517408.002

ISBN: 9781475517408

Keywords: market, monetary fund, oil price, investment

This 2015 Article IV Consultation highlights that Qatar is implementing an ambitious diversification strategy, while retaining its systemic role in the global natural gas market. Qatar accounts for one-third of glo...

Oil Prices and GCC Stock Markets: New Evidence from Smooth Transition Models

Oil Prices and GCC Stock Markets: New Evidence from Smooth Transition Models »

Volume/Issue: 2018/98

Series: IMF Working Papers

Author(s): Nidhaleddine Ben Cheikh , Sami Ben Naceur , Oussama Kanaan , and Christophe Rault

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 May 2018

DOI: http://dx.doi.org/10.5089/9781484353622.001

ISBN: 9781484353622

Keywords: Qatar, Saudi Arabia, Middle East, Oil prices, Oman, Bahrain, Kuwait, United Arab Emirates, Yemen, Republic of, GCC stock markets

Our paper examines the effect of oil price changes on Gulf Cooperation Council (GCC) stock markets using nonlinear smooth transition regression (STR) models. Contrary to conventional wisdom, our empirical results r...

Optimal Fiscal Strategy for Oil Exporting Countries

Optimal Fiscal Strategy for Oil Exporting Countries »

Volume/Issue: 2000/118

Series: IMF Working Papers

Author(s): Rodrigo Valdes , and Eduardo Engel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2000

DOI: http://dx.doi.org/10.5089/9781451854077.001

ISBN: 9781451854077

Keywords: oil exporting countries, stabilization funds, random walk, oil prices, oil production, samples, stationary process

This paper develops simple guidelines for fiscal policy in oil producing countries, focusing on three issues: intergenerational oil distribution, precautionary saving, and adjustment costs. The paper presents a fra...