Natural Resources, Volatility, and Inclusive Growth: Perspectives From the Middle East and North Africa

May 1, 2012

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Format: Chicago

Mustapha K. Nabli, and Rabah Arezki. Natural Resources, Volatility, and Inclusive Growth: Perspectives From the Middle East and North Africa, (USA: International Monetary Fund, 2012) accessed December 22, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper takes stock of the economic performance of resource rich countries in the Middle East and North Africa (MENA) over the past forty years. While those countries have maintained high levels of income per capita, they have performed poorly when going beyond the assessment based on standard income level measures. Resource rich countries in MENA have experienced relatively low and non inclusive economic growth as well as high levels of macroeconomic volatility. Important improvements in health and education have taken place but the quality of the provision of public goods and services remains an important source of concerns. Looking forward we argue that the success of economic reforms in MENA rests on the ability of those countries to invest boldly in building inclusive institutions as well as high levels of human capacity in public administrations.

Subject: Environment, Expenditure, Fiscal policy, Fiscal rules, Human capital, Labor, Natural resources, Public investment and public-private partnerships (PPP), Public investment spending

Keywords: Country, Curse literature, East Africa, Fiscal rules, GCC country, Human capital, Inclusive growth, MENA country, MENA region, Middle East, Middle East and North Africa., Natural resources, North Africa, Private sector, Public investment and public-private partnerships (PPP), Public investment spending, Resource rich., Volatility, WP

Publication Details

Pages:

26
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2012/111
Stock No:

WPIEA2012111
ISBN:

9781475503326
ISSN:

1018-5941

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