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Reforming fiscal institutions in resource-rich Arab economies: Policy proposals

Author

Listed:
  • Kamiar Mohaddes
  • Jeffrey B. Nugent
  • Hoda Selim

Abstract

This paper traces the evolution of fiscal institutions of Resource Rich Arab Economies (RRAEs) over time since their pre-oil days, through the discovery of oil to their build-up of oil exports. It then identifies challenges faced by RRAEs and variations in their severity among the different countries over time. Finally, it articulates specific policy reforms, which, if implemented successfully, could help to overcome these challenges. In some cases, however, these policy proposals may give rise to important trade-offs that will have to be evaluated carefully in individual cases.

Suggested Citation

  • 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.
  • Handle: RePEc:een:camaaa:2018-41
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    File URL: https://cama.crawford.anu.edu.au/sites/default/files/publication/cama_crawford_anu_edu_au/2018-09/41_2018_mohaddes_nugent_selim.pdf
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    References listed on IDEAS

    as
    1. Jennifer R. Peck, 2017. "Can Hiring Quotas Work? The Effect of the Nitaqat Program on the Saudi Private Sector," American Economic Journal: Economic Policy, American Economic Association, vol. 9(2), pages 316-347, May.
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    3. Mohaddes, K. & Pesaran, M.H., 2013. "One Hundred Years of Oil Income and the Iranian Economy: A curse or a Blessing," Cambridge Working Papers in Economics 1302, Faculty of Economics, University of Cambridge.
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    5. Sovacool, Benjamin K. & Walter, Götz & Van de Graaf, Thijs & Andrews, Nathan, 2016. "Energy Governance, Transnational Rules, and the Resource Curse: Exploring the Effectiveness of the Extractive Industries Transparency Initiative (EITI)," World Development, Elsevier, vol. 83(C), pages 179-192.
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    More about this item

    Keywords

    Fiscal policy; fiscal institutions; fiscal sustainability; public spending efficiency; budget transparency; fiscal rules; volatility; oil curse; Arab World; oil exporters; and Middle East and North Africa.;

    JEL classification:

    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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