Lifting productivity in Oman: The Role of Structural Reforms

June 13, 2024

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Format: Chicago

Muayad Ismail, and Haytem Troug. Lifting productivity in Oman: The Role of Structural Reforms, (USA: International Monetary Fund, 2024) accessed December 21, 2024

Summary

Oman’s potential nonhydrocarbon real GDP growth has trended downward since the global financial crisis, with a negative contribution from total factor productivity. This paper estimates productivity gains associated with structural reforms and identifies key binding constraints and reform priorities to boost productivity in Oman. Our results show that reforms to reduce the state’s footprint and strengthen institutions, as well as product market reforms, should be prioritized and packaged together to magnify productivity gains from labor market and financial sector reforms. These findings could inform the planning and implementation of the ongoing structural reform agenda envisaged under Oman Vision 2040.

Subject: International organization, Monetary policy

Keywords: Economic diversification, Oman, Productivity, Structural reforms

Publication Details

Pages:

18
Volume:

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DOI:

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Issue:

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Series:

Selected Issues Paper No. 2024/020
Stock No:

SIPEA2024020
ISBN:

9798400278563
ISSN:

2958-7875

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