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Middle East and Central Asia > Yemen, Republic of

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Cover IMF Working Papers
Assessing Oil and Non-Oil GDP Growth from Space: An Application to Yemen 2012-17
Majdi Debbich
This paper uses an untapped source of satellite-recorded nightlights and gas flaring data to characterize the contraction of economic activity in Yemen throughout the ongoing conflict that erupted in 2015. Using estimated nightlights elasticities on a sample of 72 countries for real GDP and 28 countries for oil GDP over 6 years, I derive oil and non-oil GDP growth for Yemen. I show that real GDP contracted by a cumulative 24 percent over 2015-17 against 50 percent according to official figures. I also find that the impact of the conflict has been geographically uneven with economic activity contracting more in some governorates than in others.
Keywords:
WP; real GDP; radiant heat; conflict; economic growth; nighttime lights; nightlights data; nightlights intensity; producing governorate; oil production data; data remains; growth in Yemen; VIIRS data; satellite data; real GDP equation; Oil; Oil production; Natural gas sector; Economic recession; Oil sector; Sub-Saharan Africa
Cover Policy Papers
Economic Diversification in Oil-Exporting Arab Countries
International Monetary Fund
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...
Keywords:
PP; exporting; economy; GDP; diversification; economic diversification; labor market; public spending; IMF staff estimate; exchange rate; job creation; oil price; Oil prices; Oil; gas and mining taxes; Public sector; Global
Cover Staff Discussion Notes
Is the Glass Half Empty Or Half Full?: Issues in Managing Water Challenges and Policy Instruments
Ms. Kalpana Kochhar
,
Ms. Catherine A Pattillo
,
Ms. Yan M Sun
,
Mrs. Nujin Suphaphiphat
,
Mr. Andrew J Swiston
,
Mr. Robert Tchaidze
,
Mr. Benedict J. Clements
,
Ms. Stefania Fabrizio
,
Valentina Flamini
,
Ms. Laure Redifer
, and
Mr. Harald Finger
This paper examines water challenges, a growing global concern with adverse economic and social consequences, and discusses economic policy instruments. Water subsidies provided through public utilities are estimated at about $456 billion or 0.6 percent of global GDP in 2012. The paper suggests that getting economic incentives right, notably by reforming water pricing, can go a long way towards encouraging more efficient water use and supporting needed investment, while enabling policies that protect the poor. It also discusses pricing reform options and emphasizes an integrated and holistic approach to manage water, going beyond the water sector itself. The IMF can play a helpful role in ensuring that macroeconomic policies are conducive to sound water management.
Keywords:
SDN; water use; water resource; country water price subsidy; cost recovery; demand management; natural resource; water withdrawal; Water; subsidies; externalities; public utilities; pricing reform; Water resources; Infrastructure; Agricultural sector; Water subsidies; Global; South Asia; Middle East; Sub-Saharan Africa
Cover IMF Working Papers
Middle East Transitions: A Long, Hard Road
Shahid Yusuf
Since the onset of the Arab Spring, economic uncertainty in Egypt, Jordan, Libya, Morocco, Tunisia, and Yemen (Arab Countries in Transition, ACTs) has slowed already sluggish growth; worsened unemployment, particularly of youth; undermined business confidence, affected tourist arrivals, and depressed domestic and foreign direct investment. Furthermore, political and social tensions have constrained reform efforts. Assessing policy options as presented in the voluminous literature on the Arab Spring and based on cross-country experience, this paper concludes that sustainable and inclusive growth calls for a two pronged approach: short term measures that revive growth momentum and partially allay popular concerns; complemented with efforts to adjust the public’s expectations and prepare the ground for structural reforms that will deliver the desired longer tem performance.
Keywords:
WP; labor market; private sector; export-led growth; Mena country; regime change; unemployment rate; economic transition; growth; youth unemployment; institutions; education; social safety nets; SMEs; SEZs; transaction costs; enterprise reform; anchor firm; density entry rate; on-the-job training; free trade zone; natural resource; Exports; Employment; Public sector; Manufacturing; East Asia; Global; Eastern Europe; Middle East; North Africa
Cover IMF Staff Country Reports
Republic of Yemen: Statistical Appendix
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Keywords:
ISCR; CR; foreign currency; enterprise; central bank of Yemen; oil company profits; net exposure; capital goods; core consumer price index; Oil; Commercial banks; Bank deposits; Currencies; Public enterprises; Africa
Cover Policy Papers
The Modalities of Conditionality - Further Considerations
International Monetary Fund
NULL
Keywords:
PP; Fund resource; Fund arrangement; Fund's financing; Fund-supported program; Inter-American Development Bank; tranche disbursement; policy slippage; Structural reforms; Privatization; Multilateral development institutions; Sub-Saharan Africa
Cover IMF Working Papers
Collection Lags, Fiscal Revenue and Inflationary Financing: Empirical Evidence and Analysis
Mr. Nurun N. Choudhry
The paper provides empirical evidence on collection lags in major categories of government revenue and analyzes the estimated revenue-eroding effects of inflation within the standard model of inflationary finance. The evidence indicates a wide variation in collection lags among the categories of revenues. The estimated erosion of real fiscal revenue, although varied in the sample countries, appears to have substantially offset gains from the inflation tax, thereby severely restricting the use of this form of taxation in generating resources.
Keywords:
WP; inflation revenue; revenue effect; collection lag; fiscal revenue; effects of inflation; Inflation; Personal income; Monetary base; Public enterprises
Cover Investment Policies in the Arab Countries
Investment Policies in the Arab Countries
Papers Presented at a Seminar held in Kuwait, December 11-13, 1989
Mr. Saíd El-Naggar

Abstract

This volume, edited by Said El-Naggar, examines the impact of macro- and microeconomic policies on the investment climate in the Arab countries, the efficiency of public investment, and the role of foreign direct investment.

Keywords:
BOOK; investment; country; government; GCC state; authority; investment climate; investment opportunity; investment decision; investment guarantee; Foreign direct investment; Public sector; Public investment spending; Public investment and public-private partnerships (PPP); Investment policy; Middle East; East Asia; South Asia; Western Europe; Global