Institutions and Economic Growth in the Arab Countries
Abu Dhabi, United Arab Emirates
December 19–20, 2006
"I would suggest that the rate at which countries grow is substantially determined by three things: their ability to integrate with the global economy through trade and investment; their capacity to maintain sustainable government finances and sound money; and their ability to put in place an institutional environment in which contracts can be enforced and property rights can be established. I would challenge anyone to identify a country that has done all three of these things and has not grown at a substantial rate." Larry Summers (2003)
The IMF and the Arab Monetary Fund organized a High Level Seminar on "Institutions and Economic Growth in the Arab Countries" under the joint IMF/AMF Regional Training Program. The seminar took place on December 19-20, 2006 in Abu Dhabi, United Arab Emirates. The event brought together ministers, central bank governors, as well as other high ranking policymakers and economists from the region and around the globe. They discussed how to design policies that would enhance the quality of governance and help build better institutions to foster greater global economic integration, and help ensure sustained high-quality growth conducive to employment creation and rising living standards for the countries in the region.
The seminar was by invitation only.
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Program
| Tuesday, December 19 | ||
|---|---|---|
| Session |
Subject | |
| 09:00 a.m.–09:30 a.m. |
Opening Session |
|
| 09:30 a.m.–10:00 a.m. |
Coffee Break |
|
| 10:00 a.m.–10:30 a.m. |
Keynote Address:
Institutional Reform for Economic Growth in the Arab Countries |
|
| 10:30 a.m.– 12:30 p.m. | I |
Governance and Institutions in the Arab World Chair: H.E. Dr. Nasser Saidi, Chief Economist, Dubai International Financial Center Papers: The Governance Gap in the Arab Countries: What Does the Data Say? Mr. Daniel Kaufmann, Director, Global Program, WB The Origin of the Governance Gap in the Middle East Mr. Tarik Yousef, Dean, Dubai School of Government Discussant: Mr. Marcus Noland, Senior Fellow, Peterson Institute for International Economics |
| 12:30 p.m.–2:00 p.m. | Lunch | |
| Tuesday, December 19 (Continued) | ||
| Session |
Subject | 2:00 p.m.–4:00 p.m. | II |
Governance and Economic Growth in the Arab Countries: Macroeconomic Evidence Chair: Mr. Saud Al Braikan, Director, Economic Policy Institute, AMF Papers: Growth in the Middle East and North Africa Ms. Dalia Hakura, Senior Economist, IMF Discussant: Mr. Yasser Abdih, Economist, IMF The Impact of Large Governments on Development and Growth in the MENA Region Mr. Robert Beschel, Lead Public Sector Specialist, WB Discussant: Mr. Ali Bolbol, Division Chief, AMF |
| 4:00 p.m.–4:30 p.m. | Coffee Break | |
| 4:30 p.m.–6:00 p.m. | III |
The Impact of Governance on Economic Growth in the Arab Countries: Microeconomic
and Sectoral Effects Chair: H.E. Dr. George Corm, Former Minister of Finance, Lebanon Papers: Establishing a Successful One Stop Shop: The Case of Egypt Mr. Andrew Stone, Senior Private Sector Development Specialist, WB Curbing the Size of the Public Sector: The Case of the Voluntary Retirement Program in Morocco Mr. Khalid El Massnaoui, Senior Economist, WB Discussant: Mr. Salem Al Ismaily, Executive Director, Omani Center for Investment Promotion and Export Development Corporate Governance and Concentration in the Arab Banking Sector and Economic Growth: The Case of GCC Countries Mr. Ibrahim Karasneh, Economist, AMF Discussant: Mr. Riad Al Dugaither, Vice President, Arab Banking Corporation |
| 8:00 p.m. | Dinner | |
| Wednesday, December 20 | ||
| Session |
Subject | |
| 09:00 a.m.–11:00 a.m. | IV |
Making Institutions Work for Economic Growth in the Arab Countries: Reform Avenues
and their Implementation Chair: Mr. Mohsin Khan, Director, Middle East & Central Asia Department, IMF Papers: Implementing Governance Reforms H.E. Dr. Mahmoud Mohieldin, Minister of Investment, Egypt Corporate and Regulatory Governance Reforms H.E. Dr. Nasser Saidi, Chief Economist, Dubai International Financial Center Discussant: Mr. Sami Geadah, Coordinator, Middle East Technical Assistance Center Political and National Governance Reforms Mr. Hazem El Beblawi, Advisor, AMF Discussant: Mr. Fawzi Al Sultan, Consultant, Kuwait |
| 11:00 a.m.–11:30 a.m. | Coffee Break | |
| 11:30 a.m.–1:00 p.m. | V |
Panel Discussion: Chair: Mr. Leslie Lipschitz, Director, IMF Institute Participants: Mr. George Abed, Governor, Palestinian Monetary Authority Mr. Daniel Kaufmann, Director, Global Program, WB Mr. Marcus Noland, Senior Fellow, Peterson Institute for International Economics Mr. Fawzi Al Sultan, Consultant, Kuwait |
| 1:00 p.m. | Lunch | |