Reforming Fiscal Institutions in Resource-Rich Arab Economies: Policy Proposals - Economic Research Forum (ERF)

Reforming Fiscal Institutions in Resource-Rich Arab Economies: Policy Proposals

Kamiar Mohaddes, Jeffrey Nugent and Hoda Selim


Date:
September, 2018

NO.
1228

Length:
41 pages

Topic:
H6. National Budget, Deficit, and Debt
O5. Economywide Country Studies
H5. National Government Expenditures and Related Policies
E6. Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
E. Macroeconomics and Monetary Economics

This paper traces the evolution of fiscal institutions of Resource Rich Arab Economies (RRAEs) over time since their pre-oil days, through the discovery of oil to their build-up of oil exports. It then identifies challenges faced by RRAEs and variations in their severity among the different countries over time. Finally, it articulates specific policy reforms, which, if implemented successfully, could help to overcome these challenges. In some cases, however, these policy proposals may give rise to important trade-offs that will have to be evaluated carefully in individual cases.

ملخص

تتتبع هذه الورقة تطور المؤسسات المالية فى الاقتصادات العربية الغنية بالموارد منذ زمن ما قبل النفط ، ثم من خلال اكتشاف النفط وتراكم الصادرات النفطية. ومن ثمة، تحدد االورقة اللتحديات التي تواجهها الاقتصادات العربية الغنية بالموارد والتغيرات في شدة تلك التحديات بين مختلف البلدان على مر الزمن. وأخيرًا ، فإن الورقة توضح إصلاحات سياسية محددة ، يمكن، إذا ما تم تنفيذها بنجاح ، أن تساعد في التغلب على هذه التحديات.إلا أنه في بعض الحالات ، قد تؤدي مقترحات السياسات هذه إلى مقايضات مهمة يجب تقييمها بعناية في كل حالة على حدة

Research Fellows

Kamiar Mohaddes

Faculty of Economics & Girton College, University of Cambridge


Senior Associates

Jeffrey Nugent

Professor of Economics, University of Southern California


Research Fellows

Hoda Selim

International Monetary Fund


Project

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