Savings and Investment Decisions from Natural Resource Revenues: Implications for Arab Development - Economic Research Forum (ERF)

Savings and Investment Decisions from Natural Resource Revenues: Implications for Arab Development

Paul Collier


Date:
December, 2013

NO.
815

Length:
16 pages

Topic:
O5. Economywide Country Studies
O1. Economic Development

The Middle East is fortunate to have large endowments of oil and gas. The economies of the Middle East vary considerably, but in this paper I will reduce the complexities of the region’s endowments to two groups: Gulf States which have massive endowments and small populations, and other states which have more moderate endowments and much larger populations: I will refer to the latter as Middle-Income Middle-East States, or MIMES. These differences in endowments and populations have implications for both the decision as to how much of resource revenues should be saved, and how much of the savings should be invested domestically. Principles and rules for saving and investment appropriate to Gulf States and MIMES are discussed in this paper.

 

ملخص

يعد الشرق الأوسط الأكثر حظا بما لديه من منح كبيرة من النفط والغاز. تختلف اقتصاديات الشرق الأوسط اختلافا كبيرا، ولكن في هذه الورقة سوف نقلل من تعقيدات المنح في المنطقة من خلال تقسيمها إلى مجموعتين: دول الخليج التي لها منح ضخمة وقليلة السكان، وغيرها من الدول التي لديها منح أكثر اعتدالا وعدد سكان أكبر بكثير: سوف أشير إلى هذه الأخيرة بدول الشرق الأوسط المتوسطة الدخل. هذه الاختلافات في المنح والسكان لها آثار على القرارات المرتبطة بمدى الذى يجب ادخاره من إيرادات الموارد، ومدى استخدام هذه المدخرات فى الاستثمار المحلي. وتناقش هذه الورقة مبادئ وقواعد الادخار والاستثمار المناسب لدول الخليج ودول الشرق الأوسط المتوسطة الدخل.

Paul Collier


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