Globalization and Growth Prospect in Arab Countries
September 1, 1997
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Summary
Globalization—the intensification of international trade and finance linkages underpinned by economic liberalization and technological change—presents both challenges and opportunities to Arab countries. After reviewing this region’s disappointing performance in integration and growth, this paper analyzes the empirical relationship between the two and concludes that integration is necessary if high growth rates are to be attained and the region is not to become marginalized. It then identifies the main obstacles to the integration of Arab countries into the world economy and reviews recent progress in overcoming them. On this basis, the paper derives some policy prescriptions.
Subject: Balance of payments, Exports, Foreign direct investment, Globalization, Imports, International trade, Trade liberalization
Keywords: Arab countries, Arab country, economic activity, Exports, Foreign direct investment, Global, Globalization, growth, Gulf state, Imports, Middle East, North Africa, oil country, per capita income, private sector, relative position vis-à-vis, state monopoly, Sub-Saharan Africa, terms of trade, Trade liberalization, Western Hemisphere, world economy, WP
Pages:
49
Volume:
1997
DOI:
Issue:
125
Series:
Working Paper No. 1997/125
Stock No:
WPIEA1251997
ISBN:
9781451937336
ISSN:
1018-5941
