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Reforming Fiscal Institutions in Resource-Rich Arab Economies: Policy Proposals

Author

Listed:
  • Hoda Selim

    (International Monetary Fund)

  • Kamiar Mohaddes
  • Jeffrey Nugent

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

  • Hoda Selim & Kamiar Mohaddes & Jeffrey Nugent, 2018. "Reforming Fiscal Institutions in Resource-Rich Arab Economies: Policy Proposals," Working Papers 1228, Economic Research Forum, revised 18 Sep 2018.
    • Handle: RePEc:erg:wpaper:1228
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    More about this item

    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; Modern Monetary Theory
    • 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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