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Fiscal Adjustment in the Gulf Countries: Less Costly than Previously Thought

2018-06-13 Business & Economics
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Release : 2018-06-13
Genre : Business & Economics
Kind : eBook
Book Rating : 571/5 ( reviews)

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Book Synopsis Fiscal Adjustment in the Gulf Countries: Less Costly than Previously Thought by : Mr.Armand Fouejieu

Download or read book Fiscal Adjustment in the Gulf Countries: Less Costly than Previously Thought written by Mr.Armand Fouejieu. This book was released on 2018-06-13. Available in PDF, EPUB and Kindle. Book excerpt: This paper estimates fiscal multipliers for the Gulf Cooperation Council (GCC) countries. Using OLS panel fixed effects on a sample of six countries from 1990-2016, results indicate that GCC fiscal multipliers have declined in recent years which would make the on-going fiscal consolidation less costly than previously thought. Though both capital and current multipliers have declined in recent years, capital multipliers are larger than current multipliers, which implies that reducing (less productive) current spending will help limit the adverse impact of such measures on growth.

Fiscal Adjustment in the Gulf Countries: Less Costly than Previously Thought

2018-06-13 Business & Economics
Download Fiscal Adjustment in the Gulf Countries: Less Costly than Previously Thought PDF Online Free

Author :
Release : 2018-06-13
Genre : Business & Economics
Kind : eBook
Book Rating : 272/5 ( reviews)

GET EBOOK


Book Synopsis Fiscal Adjustment in the Gulf Countries: Less Costly than Previously Thought by : Mr.Armand Fouejieu

Download or read book Fiscal Adjustment in the Gulf Countries: Less Costly than Previously Thought written by Mr.Armand Fouejieu. This book was released on 2018-06-13. Available in PDF, EPUB and Kindle. Book excerpt: This paper estimates fiscal multipliers for the Gulf Cooperation Council (GCC) countries. Using OLS panel fixed effects on a sample of six countries from 1990-2016, results indicate that GCC fiscal multipliers have declined in recent years which would make the on-going fiscal consolidation less costly than previously thought. Though both capital and current multipliers have declined in recent years, capital multipliers are larger than current multipliers, which implies that reducing (less productive) current spending will help limit the adverse impact of such measures on growth.

Gulf Cooperation Council

2017-12-14 Business & Economics
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Release : 2017-12-14
Genre : Business & Economics
Kind : eBook
Book Rating : 219/5 ( reviews)

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Book Synopsis Gulf Cooperation Council by : International Monetary Fund

Download or read book Gulf Cooperation Council written by International Monetary Fund. This book was released on 2017-12-14. Available in PDF, EPUB and Kindle. Book excerpt: growth in expenditure, GCC governments have started to implement significant fiscal consolidation measures, but more needs to be done. Rapid population growth and booming oil revenues led to large increases in government spending in the GCC in the decade to 2014, which now stands high by international standards. This expenditure is dominated by compensation of employees and other current spending which are large in percent of GDP compared to Emerging Market (EM) countries and other oil exporters. This keeps overall spending above levels consistent with long-term fiscal sustainability and intergenerational equity. The international experience with large fiscal adjustments provides some key lessons for GCC countries. This experience suggests that growth outcomes improve when fiscal adjustments are sustained as part of credible multi-year fiscal plans, rely on expenditure more than revenue adjustment, and lead to improvements in expenditure composition (away from current outlays to more productive spending) and the structure of revenue (away from direct to indirect taxation). Successful fiscal adjustments also tend to be part of wider structural reforms that support growth.

The Gulf Cooperation Council at Forty

2023-02-22 Political Science
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Release : 2023-02-22
Genre : Political Science
Kind : eBook
Book Rating : 540/5 ( reviews)

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Book Synopsis The Gulf Cooperation Council at Forty by : Tarik M. Yousef

Download or read book The Gulf Cooperation Council at Forty written by Tarik M. Yousef. This book was released on 2023-02-22. Available in PDF, EPUB and Kindle. Book excerpt: All of the GCC countries—Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates—are undergoing historic socio-economic transitions. They are facing enormous strains on public finances and challenging economic outlooks, due to fluctuating oil prices, demographic pressures, high unemployment rates, and a lack of economic diversification. These countries also are likely to feel the rising impact of climate change, and global policies to deal with it, over the coming decades. In addition, seemingly unstoppable shifts in the long-standing international order, notably the rise of China and uncertainties about U.S. leadership, have potentially serious implications for the Middle East and beyond. This by noted scholars and experts considers the key trends shaping Gulf Cooperation Council (GCC) countries--Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirate-- ranging from the COVID-19 pandemic, to climate change, economic disruptions, demographics and other domestic concerns, and shifts in the global order. The book’s chapters address such questions as: How will global megatrends impact the GCC? How can GCC states adjust and diversify their economies to meet the dual challenges of fluctuating oil prices and climate change? How can these states adjust their labor markets to absorb and support women and youth? How will inter GCC disagreements impact the region moving forward? And how will GCC relations with international actors shift in the coming years? This timely book, with its comprehensive analyses and policy recommendations, will be of interest to a wide range of readers interested in the GCC region, including policymakers, academics, and researchers at think tanks and nongovernmental organizations.

The Economy of Saudi Arabia in the 21st Century

2024-03-28 Business & Economics
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Release : 2024-03-28
Genre : Business & Economics
Kind : eBook
Book Rating : 335/5 ( reviews)

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Book Synopsis The Economy of Saudi Arabia in the 21st Century by : John Sfakianakis

Download or read book The Economy of Saudi Arabia in the 21st Century written by John Sfakianakis. This book was released on 2024-03-28. Available in PDF, EPUB and Kindle. Book excerpt: This book is about Saudi Arabia's efforts to overhaul its economy and the numerous prospects and challenges it faces in doing so. As one of the world's leading oil producers, the outcomes of the most ambitious wave of reforms Saudi Arabia has ever undertaken will provide valuable lessons not only for the kingdom itself but also for other oil-dependent and resource-based economies. Since 2016, Saudi Arabia has embarked on an unparalleled economic - if not social and political - transformation project with an ultimate aim of diversifying away from oil. New sources of growth such as tourism, industry, and entertainment have been identified, but it remains to be seen whether these will be enough to sustain the economy in the post-oil era. Reforms, including lowering energy subsidies, instituting VAT, and introducing indirect taxes on labor and businesses, have already produced notable results. Looking ahead, the economy requires rigorous and continuous processes of severe competition amongst its private sector participants as well as strong institutions. It also requires creative destruction to be allowed to run its course within the wider economy. The economic reform experiment undertaken by Saudi Arabia remains the most sweeping among emerging market economies - and certainly in the entire Middle East. The changes are all encompassing and involve a complex redrawing of the political, economic, religious, and social map.

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