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The Macroeconomics of the Arab States of the Gulf
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The Macroeconomics of the Arab States of the Gulf

Raphael Espinoza, Ghada Fayad, and Ananthakrishnan Prasad

Abstract

The GCC countries have thus far managed to leverage their large natural resource wealth to achieve economic prosperity and finance social advances, and have also emerged as important sources of funds for the wider region. Nevertheless, much remains to be done, and there are challenges ahead in terms of structural long-term issues (growth, labor markets and immigration, diversification, and market efficiency) and of management of macroeconomic cycles (role of fiscal and monetary policies, performance of banks and financial markets). The book focuses on these two fronts in its core seven chapter ... More

Keywords: gulf cooperation council, resource curse, macroeconomic policy, resource-rich country, oil exporter

Bibliographic Information

Print publication date: 2013 Print ISBN-13: 9780199683796
Published to Oxford Scholarship Online: January 2014 DOI:10.1093/acprof:oso/9780199683796.001.0001

Authors

Affiliations are at time of print publication.

Raphael Espinoza, author
Economist, Research Department, International Monetary Fund

Ghada Fayad, author
Economist, Strategy, Policy and Review Department, International Monetary Fund

Ananthakrishnan Prasad, author
Deputy Division Chief in the GCC Division, Middle East and Central Asia Department, International Monetary Fund