| LIBRARY OF CONGRESS CONTROL NUMBER |
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| LC control number |
2013943976 |
| INTERNATIONAL STANDARD BOOK NUMBER |
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| International Standard Book Number |
9780199683796 |
| INTERNATIONAL STANDARD BOOK NUMBER |
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| International Standard Book Number |
0199683794 (hbk.) |
| DEWEY DECIMAL CLASSIFICATION NUMBER |
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| Call number |
330.953054 |
| MAIN ENTRY--PERSONAL NAME |
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| Authors |
Espinoza, Raphael |
| TITLE STATEMENT |
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| Title |
The macroeconomics of the Arab States of the Gulf |
| Statement of responsibility, etc |
Raphael Espinoza, Ghada Fayad and Ananthakrishnan Prasad |
| EDITION STATEMENT |
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| Edition |
1st ed. |
| PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) |
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| Place of publication |
Oxford, UK: |
| Publisher |
Oxford University Press, |
| Date |
c2013. |
| PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) |
|---|
| Date |
©2013 |
| PHYSICAL DESCRIPTION |
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| Extent |
xvii, 186 p. : |
| Other Details |
ill. ; |
| Size |
25 cm. |
| CONTENTS |
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| Contents |
The determinants of long-term growth in the GCC countries -- The macroeconomic impact of migration -- Government spending, subsidies, and economic efficiency -- Fiscal policy form macroeconomic stability -- Monetary policy with a fixed exchange rate regime -- Nonperforming loans and financial stability -- Financial markets in the GCC countries -- The importance of the GCC for the wider region. |
| SUMMARY |
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| Summary |
The economies of the Arab states of the Gulf have gone through considerable changes in the last decade, spurred by high oil prices and ambitious diversification plans. Large-scale immigration provided the labour force while capital inflows and financial development leveraged oil wealth to finance diversification. The collapse in real estate prices around the world followed by the global crisis slowed growth and raised questions on the appropriateness of what has been dubbed the 'GCC model'. The Gulf Cooperation Council (GCC) countries have thus far managed to leverage their large natural resource wealth to achieve economic prosperity and finance social advances, and the region also emerged as an important source of funds for the other countries in the Middle East. Nevertheless, the GCC face several challenges. Productivity growth must increase to fully reap the benefits of investment. Jobs must be created for the nationals and the growing youth population. State intervention (which is prevalent, given that oil revenues accrue to the government) must become efficient and be used to diversify and modernize the economy. In addition, the recent crisis highlighted the importance of fiscal, monetary, and financial stability policies to manage macroeconomic cycles. This book analyses these issues and combines data and econometric analysis with theoretical discussions. It concludes with a discussion of the importance of the GCC for the wider region. |
| SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical Heading |
Economic development |
| Form |
Persian Gulf States |
| General |
History |
| Chronological |
21st century |
| SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical Heading |
Economic development |
| Form |
Saudi Arabia |
| General |
History |
| Chronological |
21st century |
| SUBJECT ADDED ENTRY--TOPICAL TERM |
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| Topical Heading |
Macroeconomics |
| ADDED ENTRY |
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| Name |
Fayad, Ghada, |
| Dates |
1981- |
| ADDED ENTRY |
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| Name |
Prasad, Ananthakrishnan |
| ELECTRONIC LOCATION AND ACCESS |
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| Uniform Resource Identifier |
https://uowd.box.com/s/0ir0ubwal24hklzdjezt3nvqivsmtlf5 |
| Public note |
Location Map |
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47109 |
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1071 |
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47112 |
| ADDED ENTRY |
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47113 |