Is there Fiscal Space for Financing an Arab Development Transformation?
AbstractThe fundamental development challenge in the Arab region is one of economic transformation or, more pertinent, a lack thereof. Heavy sectoral weights of extractive industries lead to dependence on global oil prices, even in oil-producing countries. The structure of production limits employment generation for skilled and semi-skilled labour. Low-skill services and informal activities then absorb the labour force, with corresponding harm to aggregate productivity and living standards. The slow emergence of manufacturing capacities distinguishes the economies of the Arab region from other developing countries. Compared to suitable aggregates or, more poignant, the successful Asian emerging economies, manufacturing exports from the Arab region do not contribute sufficiently to growth. Concurrently, growth is volatile and saving and investment rates are significantly below what is required to undertake this economic transition (see Arnim et al., 2011; Abu-Ismail, Moustafa, and Arabaci, 2011; Abu-Ismail et al., 2011). (?)
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by International Policy Centre for Inclusive Growth in its series Working Papers with number 88.
Date of creation: Feb 2012
Date of revision:
Publication status: Published by UNDP - International Policy Centre for Inclusive Growth , February 2012, pages 1-29
Is there Fiscal Space for Financing an Arab Development Transformation?;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-03-21 (All new papers)
- NEP-ARA-2012-03-21 (MENA - Middle East & North Africa)
- NEP-CWA-2012-03-21 (Central & Western Asia)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Mintz, Jack M. & Smart, Michael, 2006. "Incentives for public investment under fiscal rules," Policy Research Working Paper Series 3860, The World Bank.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Andre Lyra).
If references are entirely missing, you can add them using this form.