Soaring Of The Gulf Falcons Diversification In The Gcc Oil Exporters In Seven Propositions

Author : Reda Cherif,Fuad Hasanov
Publisher : International Monetary Fund
Page : 55 pages
File Size : 54,5 Mb
Release : 2014-09-24
Category : Business & Economics
ISBN : 9781498319300

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Soaring of the Gulf Falcons by Reda Cherif,Fuad Hasanov Pdf

A key priority for the Gulf Cooperation Council (GCC) countries is to create a dynamic non-oil tradable sector to support sustainable growth. Since export diversification takes a long time, it has to start now. We argue that the failure to diversify away from oil stems mainly from market failures rather than government failures. To tackle market failures, the government needs to change the incentive structure for workers and firms. Experiences of oil exporters that managed to diversify suggest that a focus on competing in international markets and an emphasis on technological upgrade and climbing the “quality ladder” are crucial.

Author : Reda Cherif
Publisher : International Monetary Fund
Page : 212 pages
File Size : 40,9 Mb
Release : 2016-04-15
Category : Business & Economics
ISBN : 9781484317426

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Breaking the Oil Spell by Reda Cherif Pdf

The “Gulf Falcons”—the countries of the Gulf Cooperation Council—have high living standards as a result of large income flows from oil. The decline of oil prices between summer 2014 and fall 2015 underscores the urgency for the Gulf Falcons to diversify away from their current heavy reliance on oil exports. This book discusses attempts at diversification in the Middle East and North Africa and the complex choices policymakers face. It brings together the views of academics and policymakers to offer practical advice for future efforts to increase productivity growth.

Author : Reda Cherif,Fuad Hasanov
Publisher : International Monetary Fund
Page : 55 pages
File Size : 55,6 Mb
Release : 2014-09-24
Category : Business & Economics
ISBN : 9781498310642

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Soaring of the Gulf Falcons by Reda Cherif,Fuad Hasanov Pdf

A key priority for the Gulf Cooperation Council (GCC) countries is to create a dynamic non-oil tradable sector to support sustainable growth. Since export diversification takes a long time, it has to start now. We argue that the failure to diversify away from oil stems mainly from market failures rather than government failures. To tackle market failures, the government needs to change the incentive structure for workers and firms. Experiences of oil exporters that managed to diversify suggest that a focus on competing in international markets and an emphasis on technological upgrade and climbing the “quality ladder” are crucial.

Author : Mr. Tim Callen,Reda Cherif,Fuad Hasanov,Mr. Amgad Hegazy,Padamja Khandelwal
Publisher : International Monetary Fund
Page : 32 pages
File Size : 49,7 Mb
Release : 2014-12-23
Category : Business & Economics
ISBN : 9781498301688

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Economic Diversification in the GCC: Past, Present, and Future by Mr. Tim Callen,Reda Cherif,Fuad Hasanov,Mr. Amgad Hegazy,Padamja Khandelwal Pdf

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.

Author : Cherif Reda,Fuad Hasanov,Min Zhu
Publisher : Unknown
Page : 214 pages
File Size : 44,8 Mb
Release : 2016
Category : Developing countries
ISBN : 1484302915

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Breaking the Oil Spell by Cherif Reda,Fuad Hasanov,Min Zhu Pdf

Author : Reda Cherif,Fuad Hasanov,Min Zhu
Publisher : International Monetary Fund
Page : 212 pages
File Size : 52,5 Mb
Release : 2016-04-15
Category : Business & Economics
ISBN : 9781513537863

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Breaking the Oil Spell by Reda Cherif,Fuad Hasanov,Min Zhu Pdf

The “Gulf Falcons”—the countries of the Gulf Cooperation Council—have high living standards as a result of large income flows from oil. The decline of oil prices between summer 2014 and fall 2015 underscores the urgency for the Gulf Falcons to diversify away from their current heavy reliance on oil exports. This book discusses attempts at diversification in the Middle East and North Africa and the complex choices policymakers face. It brings together the views of academics and policymakers to offer practical advice for future efforts to increase productivity growth.

Author : Reda Cherif,Fuad Hasanov,Madi Sarsenbayev
Publisher : International Monetary Fund
Page : 44 pages
File Size : 49,8 Mb
Release : 2024-03-29
Category : Business & Economics
ISBN : 9798400270994

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Call of Duty: Industrial Policy for the Post-Oil Era by Reda Cherif,Fuad Hasanov,Madi Sarsenbayev Pdf

Oil-exporting economies face the risk of an acceleration in the energy transition. A risk-based approach calls for urgent preparation for the post-oil era by diversifying exports and transforming the prevailing growth model. We outline the principles of industrial policy to achieve this objective based on the experience of the Asian Miracles and propose a sketch of the strategy required to transform these principles into practice. The key component of the strategy is to select sectors along two dimensions—proximity to the current production structure or capabilities set and a timeframe for results to materialize. The three strategies—snail crawl, leapfrogging, and moonshots—determine how far from the current production structure the selected sectors are. These sectors need to show results both in the short run to jumpstart growth and ensure policy continuity—“quick wins”—and the long run to create a new growth model—“transformative gains.” We argue that the strategy should focus on supporting the exports of sophisticated sectors in both manufacturing and services while capitalizing on complex tasks and activities in existing industries but should leave non-sophisticated sectors such as tourism and non-tradable services to the private sector.

Author : Adel Abdel Ghafar,Silvia Colombo
Publisher : Springer Nature
Page : 248 pages
File Size : 46,5 Mb
Release : 2021-08-03
Category : Political Science
ISBN : 9789811602795

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The European Union and the Gulf Cooperation Council by Adel Abdel Ghafar,Silvia Colombo Pdf

This book provides a comprehensive assessment of the various dimensions of the relationship between the European Union and the Gulf Cooperation Council, and highlights how relations are yet to reach their full potential. Despite both parties sharing a number of common interests, including trade, energy, climate change, security and cultural cooperation, the multilateral cooperation framework remains limited, with most engagement taking place bilaterally, between individual European and GCC countries. The book reassesses the potential and prospects for the EU’s engagement with GCC countries based on the recalibration and reconciliation of both parties’ national and regional interests. Taking a thematic approach, each of the three sections of the book examines a key dimension of the relationship, its current status and its path forward.

Author : Rita Stephan
Publisher : University of Texas Press
Page : 329 pages
File Size : 49,7 Mb
Release : 2023-02-21
Category : Social Science
ISBN : 9781477326541

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COVID and Gender in the Middle East by Rita Stephan Pdf

As the coronavirus ravages the globe, its aftermaths have brought gender inequalities to the forefront of many conversations. Countries in the Middle East and North Africa have been slow to prepare for, adapt to, and mitigate the COVID-19 health crisis and its impacts on governance, economics, security, and rights. Women’s physical well-being, social safety nets, and economic participation have been disproportionately affected, and with widespread shutdowns and capricious social welfare programs, women are exiting the workplace and the classroom, carrying the caregiving burden. With feminist foregrounding, Rita Stephan's collection COVID and Gender in the Middle East gathers an impressive group of local scholars, activists, and policy experts. The book examines a range of national and localized responses to gender-specific issues around COVID’s health impact and the economic fallout and resulting social vulnerabilities, including the magnified marginalization of Syrian refugees; the inequitable treatment of migrant workers in Bahrain; and the inadequate implementation of gender-based violence legislation in Morocco. An essential global resource, this book is the first to provide empirical evidence of COVID’s gendered effects.

Author : Kristian Coates Ulrichsen
Publisher : Oxford University Press
Page : 128 pages
File Size : 43,8 Mb
Release : 2018-02-01
Category : Political Science
ISBN : 9780190911690

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The Changing Security Dynamics of the Persian Gulf by Kristian Coates Ulrichsen Pdf

The contradictory trends of the 'post-Arab Spring' landscape form both the backdrop to, and the focus of, this volume on the changing security dynamics of the Persian Gulf, defined as the six GCC states plus Iraq and Iran. The political and economic upheaval triggered by the uprisings of 2011, and the rapid emergence of the Islamic State of Iraq and Syria in 2014, have underscored the vulnerability of regional states to an intersection of domestic pressures and external shocks. The initial phase of the uprisings has given way to a series of messy and uncertain transitions that have left societies deeply fractured and ignited violence both within and across states. The bulk of the protests, with the notable exception of Bahrain, occurred outside the Gulf region, but Persian Gulf states were at the forefront of the political, economic, and security response across the Middle East. This volume provides a timely and comparative study of how security in the Persian Gulf has evolved and adapted to the growing uncertainty of the post-2011 regional landscape.

Author : Amr Hosny
Publisher : International Monetary Fund
Page : 21 pages
File Size : 49,8 Mb
Release : 2020-05-22
Category : Business & Economics
ISBN : 9781513545363

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Macro-Structural Obstacles to Firm Performance: Evidence from 2,640 Firms in Nigeria by Amr Hosny Pdf

A recent World Bank enterprise survey identified access to finance as the top constraint to Doing Business in Nigeria. In this context, the objective of this paper is two-fold: (i) study firm characteristics associated with more access to finance and export diversification; and (ii) quantify the impact of these structural obstacles on firm performance. Results suggest that (i) larger and export-oriented firms are about 40 percentage points less likely to report access to finance as a business obstacle, while firms perceiving access to finance as a constraint are, on average, about 10-40 percentage points less likely to be export-oriented diversified firms; and (ii) better access to finance and export diversification can help firm employment —as much as 80 percent higher— and capacity utilization. Results are largely robust to different specifications and estimation methods.

Author : Mirza H. Alqassab
Publisher : Troubador Publishing Ltd
Page : 312 pages
File Size : 49,5 Mb
Release : 2020-08-11
Category : Business & Economics
ISBN : 9781838595012

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Life After Oil by Mirza H. Alqassab Pdf

The Gulf Arab states became rich by accident. Their golden ticket was oil, which has become the lifeblood of their social and economic systems. But they are prone to become a ‘vanishing Eden’, if the oil curse endures further and economic transformation remains a mirage. LIFE AFTER OIL highlights the economic vulnerability of the Gulf states after the oil party ends. The region depends heavily on imports financed by petrodollars. So, when demand for oil sinks and prices plummet, or when oil and gas reserves ultimately vanish, their survival will be extremely challenged. LIFE AFTER OIL raises the alarm to the impending survival challenges to face the burgeoning Gulf societies in the post-oil era, and tackles the ultimate question: what will the future look like?

Author : Reda Cherif,Fuad Hasanov,Mr. Nikola Spatafora,Rahul Giri,Dimitre Milkov,Mr. Saad N Quayyum,Mr. Gonzalo Salinas,Mr. Andrew M. Warner
Publisher : International Monetary Fund
Page : 31 pages
File Size : 48,6 Mb
Release : 2022-09-30
Category : Business & Economics
ISBN : 9798400214271

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Industrial Policy for Growth and Diversification: A Conceptual Framework by Reda Cherif,Fuad Hasanov,Mr. Nikola Spatafora,Rahul Giri,Dimitre Milkov,Mr. Saad N Quayyum,Mr. Gonzalo Salinas,Mr. Andrew M. Warner Pdf

As countries strive for a strong recovery and to recoup the losses incurred during the COVID-19 pandemic, they need to map out a new path for development and high and sustained growth. Promoting diversification, developing new industrial capabilities, and designing the policies needed to achieve this goal should be a priority. A successful diversification strategy should tackle both broad policy failures, such as an unfavorable business environment and investment climate and sector-specific market failures. This departmental paper presents a conceptual framework to analyze industrial policy, defined as targeted sectoral interventions. The authors first discuss the key principles that should guide policymakers, that is, a focus on the market failures that could justify targeted sectoral interventions, as well as the potential government failures that can undermine these interventions. The authors then discuss some commonly employed policy tools, their rationale, and the associated pitfalls. Finally, the authors outline a stylized decision-making framework.

Author : John Sfakianakis
Publisher : Oxford University Press
Page : 465 pages
File Size : 48,7 Mb
Release : 2024-06-28
Category : Business & Economics
ISBN : 9780198863878

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The Economy of Saudi Arabia in the 21st Century by John Sfakianakis Pdf

This book is about Saudi Arabia's efforts to overhaul its economy and the numerous prospects and challenges it faces in doing so. As one of the world's leading oil producers, the outcomes of the most ambitious wave of reforms Saudi Arabia has ever undertaken will provide valuable lessons not only for the kingdom itself but also for other oil-dependent and resource-based economies. Since 2016, Saudi Arabia has embarked on an unparalleled economic - if not social and political - transformation project with an ultimate aim of diversifying away from oil. New sources of growth such as tourism, industry, and entertainment have been identified, but it remains to be seen whether these will be enough to sustain the economy in the post-oil era. Reforms, including lowering energy subsidies, instituting VAT, and introducing indirect taxes on labor and businesses, have already produced notable results. Looking ahead, the economy requires rigorous and continuous processes of severe competition amongst its private sector participants as well as strong institutions. It also requires creative destruction to be allowed to run its course within the wider economy. The economic reform experiment undertaken by Saudi Arabia remains the most sweeping among emerging market economies - and certainly in the entire Middle East. The changes are all encompassing and involve a complex redrawing of the political, economic, religious, and social map.

Author : Ashraf Mishrif,Yousuf Al Balushi
Publisher : Springer
Page : 266 pages
File Size : 53,8 Mb
Release : 2018-01-09
Category : Political Science
ISBN : 9789811057861

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Economic Diversification in the Gulf Region, Volume II by Ashraf Mishrif,Yousuf Al Balushi Pdf

This volume explores the challenges to diversification in Gulf countries, which can no longer rely on profits from hydrocarbons to fund national expenditures. It elaborates on the problem of weak institutions, lack of coordination between policy makers and executors, limited investment in research and development, and a workforce that is too poorly skilled to compete in the private sector. In addition to analyzing issues in areas such as education, labor, business, and trade, the contributors underscore the importance of using global best practices to overcome fundamental weaknesses in the Gulf Cooperative Council's economic structure that limit opportunities for economic diversification. This is the second volume in Economic Diversification in the Gulf Region.