Macroprudential Policy and Financial Stability in the Arab Region

Author/Editor: Ananthakrishnan Prasad ; Heba Abdel Monem ; Pilar Garcia Martinez
Publication Date: May 20, 2016
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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: Several characteristics of the structure of the Arab economies, their economic policy framework, and their banking systems make macroprudential policy a particular relevant tool. For most oil exporters, heavy reliance on the extractive sector for generating fiscal revenues and export earnings translates into increased vulnerabilities to oil price shocks. In the case of oil importers, relatively small external and fiscal buffers make them highly vulnerable to shocks. This paper discusses the experience of Arab countries in implementing macroprudential policies and contains recommendations to strengthen their macroprudential framework.
Series: Working Paper No. 16/98
Subject(s): Macroprudential Policy | Cooperation Council for the Arab States of the Gulf | Oil exporting countries | Banking systems | Economic policy | Financial stability

Publication Date: May 20, 2016
ISBN/ISSN: 9781484361641/1018-5941 Format: Paper
Stock No: WPIEA2016098 Pages: 57
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