Narrow Your Choices

Refine By Topic

Refine By Series

Refine By Language

Refine By Date

—

Refine By IMF Taxonomy

Refine By JEL Taxonomy

Refine by LOC Taxonomy

Refine By THEMA Taxonomy

  • Print
  • Save

Middle East and Central Asia > Qatar

You are looking at 1 - 5 of 5 items for :

  • Type: Journal Issue x
Clear All Modify Search
Cover Staff Discussion Notes
Economic Diversification in the GCC: Past, Present, and Future
Mr. Tim Callen
,
Reda Cherif
,
Fuad Hasanov
,
Mr. Amgad Hegazy
, and
Padamja Khandelwal
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.
Keywords:
SDN; export; firm; revenue; GCC country; private sector; Diversification; growth; exports; GCC; oil revenue; GCC economy; labor market; GCC immigration system; export quality; oil export; export product diversification; export sophistication; private sector employment; firm limit; GCC framework; Oil; gas and mining taxes; Export diversification; Service exports; Global
Cover Regional Economic Outlook, October 2007, Middle East and Central Asia
Regional Economic Outlook, October 2007, Middle East and Central Asia
International Monetary Fund. Middle East and Central Asia Dept.

Abstract

The Middle East and Central Asia is undergoing a remarkable transformation driven by rapid GDP growth and high oil and non-oil commodity prices. The report presents common economic trends and reviews prospects and policies for the coming year in light of the global economic environment. This latest REO includes boxes treating both regional topics--such as growth in the Maghreb countries; developments in the oil markets; the boom in the GCC countries, and the impact of the recent global credit squeeze on the region--and country-specific reviews, of Kazakhstan, Armenia, Egypt, Pakistan, and the UAE.

Keywords:
REO; country authorities; country; low-income country; oil exporter; country datum; current account; broad money; State oil company; Oil; Emerging and frontier financial markets; Oil prices; Inflation; Current account surpluses; Middle East and Central Asia; Global; Maghreb; Brent crude; credit market; poverty rate; IMF staff estimate; consumer goods; heightened market volatility; market valuation; headline inflation; double digit oil GDP growth; emerging market country; federal funds rate; equity price
Cover Regional Economic Outlook, September 2006, Middle East and Central Asia
Regional Economic Outlook, September 2006, Middle East and Central Asia
International Monetary Fund. Middle East and Central Asia Dept.

Abstract

This paper presents the economic outlook for the Middle East and Central Asia for 2006–07. Economic performance in the Middle East and Central Asia region remains strong, despite security problems in some countries and recent asset price reversals. Growth in the region continues to outpace global growth and should average 6–7 percent in 2006 and 2007—similar to the rates of the past three years. Strong external inflows resulting from high oil and non-oil commodity prices, foreign investments, and remittances are fueling credit growth, and inflation continues to edge up.

Keywords:
REO; IMF staff estimate; gross domestic product; fiscal year; CIS country; current account; MCD country; low-income country; broad money; central government; Oil; Emerging and frontier financial markets; Oil prices; Inflation; gas and mining taxes; Middle East and Central Asia; Maghreb; Global
Cover The Middle East and North Africa in a Changing Oil Market
The Middle East and North Africa in a Changing Oil Market
Mr. Bright E Okogu

Abstract

The world oil market has undergone a series of changes that have reduced the share of oil in the global energy balance and, with it, the influence of Middle Eastern oil exporters. In spite of oil’s loss of ground, however, Middle Eastern countries remain at the center of world oil developments. This paper focuses on the developments in the international oil market, the role of Middle Eastern countries therein, and the policy challenges arising from the dependency on oil.

Keywords:
MISC PUBS; Misc.; price; Opec; market share; OPEC output; demand; OPEC grip; OPEC price-setting practice; OPEC oil quota obligation; price collapse; MENA OPEC country; quota policy; price effect; term contract; OPEC reserve; OPEC pricing approach; supply share; reference price; Oil; Oil prices; Oil sector; gas and mining taxes; Natural gas sector; Middle East; Global
Cover IMF Working Papers
Testing the Relationship Between Government Spending and Revenue: Evidence From GCC Countries
Mr. Qing Wang
and
Mr. Ugo Fasano-Filho
The paper examines the direction of causality between total government expenditure and revenue in oil-dependent GCC countries by utilizing a cointegration and error-correction modeling framework, and by calculating a variance decomposition analysis. In addition, it presents impulse responses to shed light on the dynamic relation of expenditure to a revenue shock. The results confirm expectations that government spending follows oil revenue, suggesting a pro-cyclical expenditure policy to variations in oil revenue. To make budget expenditure less driven by revenue availability, the authorities could resort to a medium-term expenditure framework, so that expenditures can be planned and insulated from volatile short-term revenue availability.
Keywords:
WP; revenue; GCC country; government expenditure; fiscal policy; GCC countries; spent-revenue hypothesis; expenditure growth; oil revenue; revenue shock; expenditure decision; Fiscal stance; Oil prices; Oil; gas and mining taxes; Total expenditures; Global