000			02906nam a22003017a 4500
999			_c30152 _d30152
001			65148
010			_a 2013943976
020			_a9780199683796
020			_a0199683794 (hbk.)
040			_aUKMGB
082	0	4	_a330.953054
100	1		_aEspinoza, Raphael _947109
245	1	4	_aThe macroeconomics of the Arab States of the Gulf _cRaphael Espinoza, Ghada Fayad and Ananthakrishnan Prasad
250			_a1st ed.
260			_aOxford, UK: _bOxford University Press, _cc2013.
260			_c©2013
300			_axvii, 186 p. : _bill. ; _c25 cm.
504			_aIncludes bibliographical references and index.
505	0		_aThe 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.
520			_aThe 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.
650		0	_aEconomic development _zPersian Gulf States _xHistory _y21st century _947110
650		0	_aEconomic development _zSaudi Arabia _xHistory _y21st century _947111
650		0	_aMacroeconomics _91071
700	1		_aFayad, Ghada, _d1981- _947112
700	1		_aPrasad, Ananthakrishnan _947113
856			_uhttps://uowd.box.com/s/0ir0ubwal24hklzdjezt3nvqivsmtlf5 _zLocation Map
942			_cREGULAR _2ddc