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Natural Resource Abundance, Growth, and Diversification in the Middle East and North Africa : The Effects of Natural Resources and the Role of Policies

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  • Ndiamé Diop
  • Daniela Marotta
  • Jaime de Melo

Abstract

This book is organized as follows: this first chapter examines the pattern of structural transformation in Middle East and North Africa, or MENA and summarizes the role of various factors examined thoroughly in the rest of the volume. This second chapter examines the correlates of this overall disappointing performance. At the macro level, MENA countries have been unable to maintain depreciated (undervalued) real exchange rates for long periods, yet such undervaluation has proved important to offset the market failures and poor institutional environment that severely hit the dynamic non-resource-intensive traded sectors. This third chapter shows that services sectors in resource-rich MENA countries have been declining as a share of gross domestic product (GDP) and of non-mining GDP as per capita incomes increase. This fourth chapter explores the presence of systematic differences between the patterns of diversification in MENA and the rest of the world. This fifth chapter shows that from a historical perspective, fiscal policy has not contributed significantly to diversification in MENA, because it has been more oriented toward food and fuel subsidies (consumption) rather than toward public goods such as infrastructure (investment). Finally, in this sixth chapter, the authors emphasize the different characteristics of the regional partners in terms of their resource endowments and consider wealth distribution effects within the region.

Suggested Citation

  • Ndiamé Diop & Daniela Marotta & Jaime de Melo, 2012. "Natural Resource Abundance, Growth, and Diversification in the Middle East and North Africa : The Effects of Natural Resources and the Role of Policies," World Bank Publications - Books, The World Bank Group, number 11956.
    • Handle: RePEc:wbk:wbpubs:11956
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    References listed on IDEAS

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    1. Jonathan Isham & Michael Woolcock & Lant Pritchett & Gwen Busby, 2005. "The Varieties of Resource Experience: Natural Resource Export Structures and the Political Economy of Economic Growth," The World Bank Economic Review, World Bank, vol. 19(2), pages 141-174.
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    1. Joya, Omar, 2015. "Growth and volatility in resource-rich countries: Does diversification help?," Structural Change and Economic Dynamics, Elsevier, vol. 35(C), pages 38-55.
    2. Sun, Tong & Wang, Xuefang, 2023. "Adoption of financial inclusion in a world of depleting natural resources: The importance of information and communication technology in emerging economies," Resources Policy, Elsevier, vol. 85(PB).
    3. Hoda Selim & Chahir Zaki, 2014. "The Institutional Curse of Natural Resources in the Arab World," Working Papers 890, Economic Research Forum, revised Dec 2014.
    4. Sampson Vivian Esumanba & Gyamfi Emmanuel & Atsu Francis & Nantogmah Danaa & Amoh John Kwaku, 2024. "Political Commitment to resource management, the African case," SN Business & Economics, Springer, vol. 4(6), pages 1-19, June.
    5. Issa, Samah & Girardone, Claudia & Snaith, Stuart, 2022. "Banking competition, convergence and growth across macro-regions of MENA," The Quarterly Review of Economics and Finance, Elsevier, vol. 84(C), pages 534-549.
    6. Liu, Haiying & Saleem, Muhammad Mansoor & Al-Faryan, Mamdouh Abdulaziz Saleh & Khan, Irfan & Zafar, Muhammad Wasif, 2022. "Impact of governance and globalization on natural resources volatility: The role of financial development in the Middle East North Africa countries," Resources Policy, Elsevier, vol. 78(C).
    7. Paolo Verme, 2015. "Economic development and female labor participation in the Middle East and North Africa: a test of the U-shape hypothesis," IZA Journal of Labor & Development, Springer;Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 4(1), pages 1-21, December.
    8. Addisu A Lashitew & Michael L Ross & Eric Werker, 2021. "What Drives Successful Economic Diversification in Resource-Rich Countries? [“Blocking the Pathway out of the Resource Curse: What Hinders Diversification in Resource-rich Developing Countries?”]," The World Bank Research Observer, World Bank, vol. 36(2), pages 164-196.
    9. Dalila NICET-CHENAF & Eric ROUGIER, 2014. "What is so specific with Middle-East and North-African pattern of growth and structural change? A quantitative comparative analysis," Cahiers du GREThA (2007-2019) 2014-23, Groupe de Recherche en Economie Théorique et Appliquée (GREThA).
    10. World Bank, 2013. "Malaysia Economic Monitor, June 2013," World Bank Publications - Reports 16529, The World Bank Group.
    11. Roesmara Donna, Duddy & Widodo, Tri & Adiningsih, Sri, 2017. "Pattern of Comparative Advantage in Middle East and North Africa (MENA)," MPRA Paper 78109, University Library of Munich, Germany.

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