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Natural Resources, Volatility, and Inclusive Growth: Perspectives from the Middle East and North Africa

Author/Editor: Arezki, Rabah | Nabli, Mustapha K.
Authorized for Distribution: May 1, 2012
Electronic Access: Free Full Text (PDF file size is 1,106KB)
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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: This paper takes stock of the economic performance of resource rich countries in the Middle East and North Africa (MENA) over the past forty years. While those countries have maintained high levels of income per capita, they have performed poorly when going beyond the assessment based on standard income level measures. Resource rich countries in MENA have experienced relatively low and non inclusive economic growth as well as high levels of macroeconomic volatility. Important improvements in health and education have taken place but the quality of the provision of public goods and services remains an important source of concerns. Looking forward we argue that the success of economic reforms in MENA rests on the ability of those countries to invest boldly in building inclusive institutions as well as high levels of human capacity in public administrations.
 
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Series: Working Paper No. 12/111
Subject(s): Business cycles | Commodity prices | Economic growth | Education | Emerging markets | Human capital | Infrastructure | Middle East | Natural resources | North Africa | Public investment
Author's keyword(s): Natural resources; volatility; inclusive growth; Middle East and North Africa.
 
English  
    Published:   May 1, 2012        
            Format:   Paper
    Stock No:   WPIEA2012111   Pages:   25
    Price:   US$18.00 (Academic Rate: US$18.00 )
       
     
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