Natural Resource Abundance, Growth, and Diversification in the Middle East and North Africa : The Effects of Natural Resources and the Role of Policies
No hay miniatura disponible
Fecha
Título de la revista
ISSN de la revista
Título del volumen
Editor
Washington, DC: World Bank
Resumen
Descripción
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.
Palabras clave
ADVERSE EFFECTS, AGRICULTURAL PRODUCTIVITY, AGRICULTURE, ARABLE LAND, BASE YEAR, BENCHMARKING, BENCHMARKS, BUSINESS ENVIRONMENT, CAPITAL ACCUMULATION, CAPITAL FORMATION, CIVIL WAR, CIVIL WARS, CLOSED ECONOMIES, COMMODITIES, COMMODITY, COMMODITY PRICE, COMMON MARKET, COMMUNICATION TECHNOLOGY, COMPARATIVE ADVANTAGE, COMPETITIVENESS, CONSUMER GOODS, CONSUMER PRICE INDEX, CONSUMPTION EXPENDITURES, CONTRACT ENFORCEMENT, CPI, CROWDING OUT, DEMOCRACIES, DEMOCRACY, DESCRIPTIVE STATISTICS, DEVELOPING COUNTRIES, DEVELOPING COUNTRY, DEVELOPING ECONOMIES, DEVELOPING WORLD, DEVELOPMENT ECONOMICS, DIVERSIFICATION, DOMESTIC COMPETITION, ECONOMETRICS, ECONOMIC ACTIVITIES, ECONOMIC ACTIVITY, ECONOMIC CONCENTRATION, ECONOMIC COOPERATION, ECONOMIC DEVELOPMENT, ECONOMIC EFFICIENCY, ECONOMIC GROWTH, ECONOMIC INTEGRATION, ECONOMIC OPPORTUNITIES, ECONOMIC PERFORMANCE, ECONOMIC RESEARCH, ECONOMIC THEORY, ECONOMICS, ECONOMICS RESEARCH, ECONOMIES OF SCALE, ELASTICITY, EMPIRICAL EVIDENCE, EMPIRICAL RESULTS, EXCHANGE RATE, EXCHANGE RATE REGIMES, EXPENDITURES, EXPLOITATION, EXPORT DIVERSIFICATION, EXPORT GROWTH, EXPORT MARKETS, EXPORTS, EXPOSURE, EXTERNALITIES, FACTOR PRICES, FINANCIAL CRISIS, FINANCIAL DEVELOPMENT, FINANCIAL SUPPORT, FISCAL POLICIES, FISCAL POLICY, FIXED CAPITAL, FIXED EXCHANGE RATE REGIMES, FLEXIBLE EXCHANGE RATES, FOREIGN CAPITAL, FOREIGN DIRECT INVESTMENT, FREE TRADE, FREE TRADE AGREEMENT, GDP, GDP PER CAPITA, GLOBAL ECONOMY, GLOBAL RISK, GLOBALIZATION, GROSS DOMESTIC PRODUCT, GROSS FIXED CAPITAL FORMATION, GROWTH EPISODE, GROWTH IN TRADE, GROWTH MODELS, GROWTH PERFORMANCE, GROWTH PROCESS, GROWTH RATE, GROWTH RATES, HIGH CONCENTRATION, HIGH GROWTH, HUMAN CAPITAL, INCOME ELASTICITY, INCOME ELASTICITY OF DEMAND, INCOME GROUP, INCOME GROUPS, INCOMES INCREASE, INDIVIDUAL COUNTRIES, INDUSTRIAL DEVELOPMENT, INDUSTRIAL SECTOR, INDUSTRIALIZATION, INFRASTRUCTURE INVESTMENTS, INPUT PRICES, INSTITUTIONAL ENVIRONMENT, INTERMEDIATE GOODS, INTERNATIONAL LABOUR ORGANIZATION, INTERNATIONAL TRADE, JOB CREATION, LABOR FORCE, LONG RUN, LONG-RUN GROWTH, LONG-TERM GROWTH, MACROECONOMIC ISSUES, MACROECONOMIC POLICIES, MACROECONOMIC POLICY, MACROECONOMIC STABILITY, MACROECONOMICS, MANUFACTURING INDUSTRIES, MARGINAL EFFECT, MARKET ACCESS, MARKET ENTRY, MARKET FAILURES, MARKET PARTICIPANTS, MARKET REGULATIONS, MARKET SHARE, MARKET SHARES, MICROFINANCE, NATIONAL INCOME, NATURAL MONOPOLIES, NATURAL RESOURCE, NATURAL RESOURCES, NEGATIVE EFFECT, NEGATIVE IMPACT, NEW MARKETS, NEW PRODUCTS, NON-OIL TRADE, OIL, OIL EXPORTERS, OIL PRICES, OIL RESERVES, OPEC, OPEN ECONOMY, OUTPUT, OUTPUT GROWTH, OUTPUT VOLATILITY, OUTPUTS, OVERVALUATION, PER CAPITA GROWTH, PER CAPITA INCOME, PER CAPITA INCOMES, POLICY IMPLICATIONS, POLICY ISSUES, POLICY MAKERS, POLICY RESEARCH, POLITICAL ECONOMY, POOR COUNTRIES, POOR GOVERNANCE, POVERTY REDUCTION, POWER PARITY, PRICE INDEXES, PRICE LEVELS, PRICE SUBSIDY, PRIVATE CAPITAL, PRIVATE INVESTMENT, PRIVATE SECTOR DEVELOPMENT, PRODUCTION COSTS, PRODUCTION STRUCTURES, PRODUCTIVITY, PRODUCTIVITY GROWTH, PROPERTY RIGHTS, PUBLIC EXPENDITURES, PUBLIC FINANCE, PUBLIC FINANCES, PUBLIC GOODS, PUBLIC SECTOR, PURCHASING POWER, REAL ESTATE, REAL EXCHANGE RATE, REAL EXCHANGE RATES, REAL GDP, REGIONAL INTEGRATION, REGIONAL TRADE, REGULATORY RESTRICTIONS, RENT SEEKING, RESOURCE MANAGEMENT, RICH COUNTRIES, SAVINGS, SCIENTIFIC RESEARCH, SECTOR ACTIVITY, SECTOR REFORMS, STANDARD DEVIATION, STRUCTURAL CHANGE, TECHNOLOGICAL ADVANCES, TERMS OF TRADE, TOTAL FACTOR PRODUCTIVITY, TRADABLE SECTORS, TRADE COMPETITIVENESS, TRADE DIVERSION, TRADE LIBERALIZATION, TRADE POLICIES, TRADE POLICY, TRADE REFORMS, TRANSPARENCY, UNDERVALUATION, VOLATILITY, WAGES, WEALTH, WEALTH DISTRIBUTION, WORLD DEVELOPMENT INDICATORS, WORLD ECONOMY, WORLD TRADE, WORLD TRADE ORGANIZATION, WTO