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Oil, OPEC, and the Challenges of Surplus Management

In: Challenges Of Economic Development In The Middle East And North Africa Region

Author

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  • JULIA C. DEVLIN

    (University of Virginia, USA)

Abstract

The following sections are included:MENA AND GLOBAL ENERGYOil prices and the entry of OPECThe first oil price shockThe second oil price shockPrice decline of 1986More recent price increasesOIL WEALTH AND DEVELOPMENTFiscal policy: A critical link between oil windfalls and growth prospectsOil stabilization and savings fundsOil windfalls and development in the MENA countries: Algeria and KuwaitRecent windfalls and fiscal policy challengesImproving budgetary processesCONCLUSIONREFERENCES

Suggested Citation

  • Julia C. Devlin, 2010. "Oil, OPEC, and the Challenges of Surplus Management," World Scientific Book Chapters, in: Challenges Of Economic Development In The Middle East And North Africa Region, chapter 5, pages 115-155, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789812793454_0005
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    Cited by:

    1. Kamiar Mohaddes & Jeffrey B. Nugent & Hoda Selim, 2018. "Reforming fiscal institutions in resource-rich Arab economies: Policy proposals," CAMA Working Papers 2018-41, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.

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