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Saudi Arabia: Selected Issues
Author:
International Monetary Fund. Middle East and Central Asia Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2012: Issue 272
Language:
English
Publication Date:
18 Sep 2012
DOI:
https://doi.org/10.5089/9781475510621.002
ISBN:
9781475510621
ISSN:
1934-7685
Pages:
62
Keywords:
ISCR; CR; price; TFP growth; oil price; oil GDP; private-sector employment; Dutch disease; Oil prices; Total factor productivity; Employment; Oil; gas and mining taxes; Global; Asia and Pacific; Middle East; business cycle correlation; one-standard error GDP Shock; C. fiscal policy; impulse response; cyclical GDP; D. labor market initiative; Caribbean
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This chapter reviews developments in GDP over the past several decades. The analysis shows that accumulation of labor and capital explains the bulk of overall output growth since 1990, with changes in total factor productivity playing only a minor role. Moreover, while increases in total factor productivity (TFP) during 1990-2009 have been close to the worldwide average, the pace of TFP growth fell during the 2000s. This suggests scope for increasing the efficiency of factor markets and highlights the importance of recent reforms to promote knowledge-based activity.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund