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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....

Fiscal Sustainability with Non-Renewable Resources1

Fiscal Sustainability with Non-Renewable Resources1 »

Source: Fiscal Sustainability with Non-Renewable Resources

Volume/Issue: 1998/26

Series: IMF Working Papers

Author(s): Nigel Chalk

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1998

ISBN: 9781451844351

Keywords: Fiscal sustainability, non-renewable resource, oil producers, terms of trade, fiscal position, oil prices, fiscal policies

This paper assesses sustainable fiscal behavior in an economy where wealth is derived predominantly from a non-renewable resource. It explores the issue in a simple dynamic framework that highlights the structural...

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...

IMF Executive Board Concludes 2019 Article IV Consultation with Kuwait

IMF Executive Board Concludes 2019 Article IV Consultation with Kuwait »

Source: Kuwait : 2019 Article IV Consultation; Press Release; Staff Report; and Statement by the Executive Director for Kuwait

Volume/Issue: 2019/95

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 April 2019

ISBN: 9781498306355

Keywords: Fiscal policy, Credit, Central banks, Financial and Monetary Sector, Expenditures, non-oil, CBK, investment income, FSSA, overall balance

Growth has strengthened, and fiscal and external positions improved thanks to higher oil prices. The increased uncertainty about oil price prospects though underscores the need to reduce dependence on oil and incre...

Kuwait
			: 2019 Article IV Consultation; Press Release; Staff Report; and Statement by the Executive Director for Kuwait

Kuwait : 2019 Article IV Consultation; Press Release; Staff Report; and Statement by the Executive Director for Kuwait »

Volume/Issue: 2019/95

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 April 2019

DOI: http://dx.doi.org/10.5089/9781498306355.002

ISBN: 9781498306355

Keywords: Fiscal policy, Credit, Central banks, Financial and Monetary Sector, Expenditures, non-oil, CBK, investment income, FSSA, overall balance

Growth has strengthened, and fiscal and external positions improved thanks to higher oil prices. The increased uncertainty about oil price prospects though underscores the need to reduce dependence on oil and incre...

Fiscal Sustainability with Non-Renewable Resources

Fiscal Sustainability with Non-Renewable Resources »

Volume/Issue: 1998/26

Series: IMF Working Papers

Author(s): Nigel Chalk

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1998

DOI: http://dx.doi.org/10.5089/9781451844351.001

ISBN: 9781451844351

Keywords: Fiscal sustainability, non-renewable resource, oil producers, terms of trade, fiscal position, oil prices, fiscal policies

This paper assesses sustainable fiscal behavior in an economy where wealth is derived predominantly from a non-renewable resource. It explores the issue in a simple dynamic framework that highlights the structural...

Review of the Experience with Oil Stabilization and Savings Funds in Selected Countries

Review of the Experience with Oil Stabilization and Savings Funds in Selected Countries »

Volume/Issue: 2000/112

Series: IMF Working Papers

Author(s): Ugo Fasano-Filho

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2000

DOI: http://dx.doi.org/10.5089/9781451853599.001

ISBN: 9781451853599

Keywords: oil stabilization fund, oil savings fund, oil exporting countries, Chile&;amp;#x2019;s copper fund, fiscal indicators, oil prices, central government fiscal, oil revenues, fiscal policy

The main purposes of this paper are to review the operational modalities and experience of oil funds currently in place in Norway, Chile (copper), the State of Alaska, Venezuela, Kuwait, and Oman, and to draw some...

1. Introductory Chapter

1. Introductory Chapter »

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

1.1 Introduction The countries of the Gulf Cooperation Council (GCC) have gone through considerable changes in the last decade, spurred by high oil prices and ambitious diversificati...

Kuwait: 2019 Article IV Consultation—Press Release; Staff Report; and Statement by the Executive Director for Kuwait

Kuwait: 2019 Article IV Consultation—Press Release; Staff Report; and Statement by the Executive Director for Kuwait »

Source: Kuwait : 2019 Article IV Consultation; Press Release; Staff Report; and Statement by the Executive Director for Kuwait

Volume/Issue: 2019/95

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 April 2019

ISBN: 9781498306355

Keywords: Fiscal policy, Credit, Central banks, Financial and Monetary Sector, Expenditures, non-oil, CBK, investment income, FSSA, overall balance

Growth has strengthened, and fiscal and external positions improved thanks to higher oil prices. The increased uncertainty about oil price prospects though underscores the need to reduce dependence on oil and incre...