Economic diversification in the GCC :: past, present, and future /
Abstract: The economies of the six Gulf Cooperation Council (GCC) countries are heavily reliant on oil. Greater economic diversification would reduce their exposure to volatility and uncertainty in the global oil market, help create jobs in the private sector, increase productivity and sustainable g...
Gespeichert in:
| 1. Verfasser: | |
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| Körperschaften: | , |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Washington, D.C.] :
International Monetary Fund,
©2014.
|
| Schriftenreihe: | IMF staff discussion note ;
SDN/14/12. |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Abstract: The economies of the six Gulf Cooperation Council (GCC) countries are heavily reliant on oil. Greater economic diversification would reduce their exposure to volatility and uncertainty in the global oil market, help create jobs in the private sector, increase productivity and sustainable growth, and help create the non-oil economy that will be needed in the future when oil revenues start to dwindle. The GCC countries have followed many of the standard policies that are usually thought to promote more diversified economies, including reforms to improve the business climate, the development of domestic infrastructure, financial deepening, and improvements in education. Nevertheless, success to date has been limited. This paper argues that increased diversification will require realigning incentives for firms and workers in the economies--fixing these incentives is the "missing link" in the GCC countries' diversification strategies. At present, producing non-tradables is less risky and more profitable for firms as they can benefit from the easy availability of low-wage foreign labor and the rapid growth in government spending, while the continued availability of high-paying and secure public sector jobs discourages nationals from pursuing entrepreneurship and private sector employment. Measures to begin to address these incentive issues could include limiting and reorienting government spending, strengthening private sector competition, providing guarantees and financial support for those firms engaged in export activity, and implementing labor market reforms to make nationals more competitive for private sector employment |
| Beschreibung: | "December 2014." "Institute for Capacity Development and Middle East and Central Asia Department"--Page 2 of pdf Authors: Tim Callen, Reda Cherif, Fuad Hasanov, Amgad Hegazy, and Padamja Khandelwal. |
| Beschreibung: | 1 online resource (32 pages) : color illustrations |
| Bibliographie: | Includes bibliographical references (pages 30-32). |
| ISBN: | 9781498301688 1498301681 1498303234 9781498303231 149835551X 9781498355513 |
Internformat
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| 245 | 0 | 0 | |a Economic diversification in the GCC : |b past, present, and future / |c Tim Callen [and others]. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2014. | ||
| 300 | |a 1 online resource (32 pages) : |b color illustrations | ||
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| 490 | 1 | |a IMF staff discussion note ; |v SDN/14/12 | |
| 500 | |a "December 2014." | ||
| 500 | |a "Institute for Capacity Development and Middle East and Central Asia Department"--Page 2 of pdf | ||
| 500 | |a Authors: Tim Callen, Reda Cherif, Fuad Hasanov, Amgad Hegazy, and Padamja Khandelwal. | ||
| 504 | |a Includes bibliographical references (pages 30-32). | ||
| 520 | 3 | |a Abstract: The economies of the six Gulf Cooperation Council (GCC) countries are heavily reliant on oil. Greater economic diversification would reduce their exposure to volatility and uncertainty in the global oil market, help create jobs in the private sector, increase productivity and sustainable growth, and help create the non-oil economy that will be needed in the future when oil revenues start to dwindle. The GCC countries have followed many of the standard policies that are usually thought to promote more diversified economies, including reforms to improve the business climate, the development of domestic infrastructure, financial deepening, and improvements in education. Nevertheless, success to date has been limited. This paper argues that increased diversification will require realigning incentives for firms and workers in the economies--fixing these incentives is the "missing link" in the GCC countries' diversification strategies. At present, producing non-tradables is less risky and more profitable for firms as they can benefit from the easy availability of low-wage foreign labor and the rapid growth in government spending, while the continued availability of high-paying and secure public sector jobs discourages nationals from pursuing entrepreneurship and private sector employment. Measures to begin to address these incentive issues could include limiting and reorienting government spending, strengthening private sector competition, providing guarantees and financial support for those firms engaged in export activity, and implementing labor market reforms to make nationals more competitive for private sector employment | |
| 588 | 0 | |a Online resource; title from PDF title page (IMF Web site, viewed January 6, 2015). | |
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| 700 | 1 | |a Callen, Tim, |e author. |0 http://id.loc.gov/authorities/names/no95059898 | |
| 710 | 2 | |a International Monetary Fund. |b Institute for Capacity Development. |0 http://id.loc.gov/authorities/names/no2012075144 | |
| 710 | 2 | |a International Monetary Fund. |b Middle East and Central Asia Department. |0 http://id.loc.gov/authorities/names/no2004029012 | |
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| author | Callen, Tim |
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| author_corporate | International Monetary Fund. Institute for Capacity Development International Monetary Fund. Middle East and Central Asia Department |
| author_corporate_role | |
| author_facet | Callen, Tim International Monetary Fund. Institute for Capacity Development International Monetary Fund. Middle East and Central Asia Department |
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| discipline | Wirtschaftswissenschaften |
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| geographic | Persian Gulf States Economic policy. États du golfe Persique Politique économique. Persian Gulf States fast |
| geographic_facet | Persian Gulf States Economic policy. États du golfe Persique Politique économique. Persian Gulf States |
| id | ZDB-4-EBA-ocn899248192 |
| illustrated | Illustrated |
| indexdate | 2024-11-27T13:26:24Z |
| institution | BVB |
| institution_GND | http://id.loc.gov/authorities/names/no2012075144 http://id.loc.gov/authorities/names/no2004029012 |
| isbn | 9781498301688 1498301681 1498303234 9781498303231 149835551X 9781498355513 |
| language | English |
| oclc_num | 899248192 |
| open_access_boolean | |
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| physical | 1 online resource (32 pages) : color illustrations |
| psigel | ZDB-4-EBA |
| publishDate | 2014 |
| publishDateSearch | 2014 |
| publishDateSort | 2014 |
| publisher | International Monetary Fund, |
| record_format | marc |
| series | IMF staff discussion note ; |
| series2 | IMF staff discussion note ; |
| spelling | Economic diversification in the GCC : past, present, and future / Tim Callen [and others]. [Washington, D.C.] : International Monetary Fund, ©2014. 1 online resource (32 pages) : color illustrations text txt rdacontent computer c rdamedia online resource cr rdacarrier IMF staff discussion note ; SDN/14/12 "December 2014." "Institute for Capacity Development and Middle East and Central Asia Department"--Page 2 of pdf Authors: Tim Callen, Reda Cherif, Fuad Hasanov, Amgad Hegazy, and Padamja Khandelwal. Includes bibliographical references (pages 30-32). Abstract: The economies of the six Gulf Cooperation Council (GCC) countries are heavily reliant on oil. Greater economic diversification would reduce their exposure to volatility and uncertainty in the global oil market, help create jobs in the private sector, increase productivity and sustainable growth, and help create the non-oil economy that will be needed in the future when oil revenues start to dwindle. The GCC countries have followed many of the standard policies that are usually thought to promote more diversified economies, including reforms to improve the business climate, the development of domestic infrastructure, financial deepening, and improvements in education. Nevertheless, success to date has been limited. This paper argues that increased diversification will require realigning incentives for firms and workers in the economies--fixing these incentives is the "missing link" in the GCC countries' diversification strategies. At present, producing non-tradables is less risky and more profitable for firms as they can benefit from the easy availability of low-wage foreign labor and the rapid growth in government spending, while the continued availability of high-paying and secure public sector jobs discourages nationals from pursuing entrepreneurship and private sector employment. Measures to begin to address these incentive issues could include limiting and reorienting government spending, strengthening private sector competition, providing guarantees and financial support for those firms engaged in export activity, and implementing labor market reforms to make nationals more competitive for private sector employment Online resource; title from PDF title page (IMF Web site, viewed January 6, 2015). Gulf Cooperation Council. http://id.loc.gov/authorities/names/n83009071 Gulf Cooperation Council fast Business enterprises Persian Gulf States. Exports Persian Gulf States. Revenue Persian Gulf States. Wages and labor productivity Persian Gulf States. Economic development Persian Gulf States. Persian Gulf States Economic policy. Petroleum industry and trade Persian Gulf States. Entreprises États du golfe Persique. Exportations États du golfe Persique. Revenus de l'État États du golfe Persique. Salaires et productivité États du golfe Persique. Développement économique États du golfe Persique. États du golfe Persique Politique économique. Pétrole Industrie et commerce États du golfe Persique. BUSINESS & ECONOMICS Industries General. bisacsh Business enterprises fast Economic development fast Economic policy fast Exports fast Petroleum industry and trade fast Revenue fast Wages and labor productivity fast Persian Gulf States fast Callen, Tim, author. http://id.loc.gov/authorities/names/no95059898 International Monetary Fund. Institute for Capacity Development. http://id.loc.gov/authorities/names/no2012075144 International Monetary Fund. Middle East and Central Asia Department. http://id.loc.gov/authorities/names/no2004029012 has work: Economic diversification in the GCC (Text) https://id.oclc.org/worldcat/entity/E39PCGwMDjpvRvDrxBWp7fjf4q https://id.oclc.org/worldcat/ontology/hasWork Print Version: 9781498303231 IMF staff discussion note ; SDN/14/12. http://id.loc.gov/authorities/names/no2011013696 FWS01 ZDB-4-EBA FWS_PDA_EBA https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1042263 Volltext |
| spellingShingle | Callen, Tim Economic diversification in the GCC : past, present, and future / IMF staff discussion note ; Gulf Cooperation Council. http://id.loc.gov/authorities/names/n83009071 Gulf Cooperation Council fast Business enterprises Persian Gulf States. Exports Persian Gulf States. Revenue Persian Gulf States. Wages and labor productivity Persian Gulf States. Economic development Persian Gulf States. Petroleum industry and trade Persian Gulf States. Entreprises États du golfe Persique. Exportations États du golfe Persique. Revenus de l'État États du golfe Persique. Salaires et productivité États du golfe Persique. Développement économique États du golfe Persique. Pétrole Industrie et commerce États du golfe Persique. BUSINESS & ECONOMICS Industries General. bisacsh Business enterprises fast Economic development fast Economic policy fast Exports fast Petroleum industry and trade fast Revenue fast Wages and labor productivity fast |
| subject_GND | http://id.loc.gov/authorities/names/n83009071 |
| title | Economic diversification in the GCC : past, present, and future / |
| title_auth | Economic diversification in the GCC : past, present, and future / |
| title_exact_search | Economic diversification in the GCC : past, present, and future / |
| title_full | Economic diversification in the GCC : past, present, and future / Tim Callen [and others]. |
| title_fullStr | Economic diversification in the GCC : past, present, and future / Tim Callen [and others]. |
| title_full_unstemmed | Economic diversification in the GCC : past, present, and future / Tim Callen [and others]. |
| title_short | Economic diversification in the GCC : |
| title_sort | economic diversification in the gcc past present and future |
| title_sub | past, present, and future / |
| topic | Gulf Cooperation Council. http://id.loc.gov/authorities/names/n83009071 Gulf Cooperation Council fast Business enterprises Persian Gulf States. Exports Persian Gulf States. Revenue Persian Gulf States. Wages and labor productivity Persian Gulf States. Economic development Persian Gulf States. Petroleum industry and trade Persian Gulf States. Entreprises États du golfe Persique. Exportations États du golfe Persique. Revenus de l'État États du golfe Persique. Salaires et productivité États du golfe Persique. Développement économique États du golfe Persique. Pétrole Industrie et commerce États du golfe Persique. BUSINESS & ECONOMICS Industries General. bisacsh Business enterprises fast Economic development fast Economic policy fast Exports fast Petroleum industry and trade fast Revenue fast Wages and labor productivity fast |
| topic_facet | Gulf Cooperation Council. Gulf Cooperation Council Business enterprises Persian Gulf States. Exports Persian Gulf States. Revenue Persian Gulf States. Wages and labor productivity Persian Gulf States. Economic development Persian Gulf States. Persian Gulf States Economic policy. Petroleum industry and trade Persian Gulf States. Entreprises États du golfe Persique. Exportations États du golfe Persique. Revenus de l'État États du golfe Persique. Salaires et productivité États du golfe Persique. Développement économique États du golfe Persique. États du golfe Persique Politique économique. Pétrole Industrie et commerce États du golfe Persique. BUSINESS & ECONOMICS Industries General. Business enterprises Economic development Economic policy Exports Petroleum industry and trade Revenue Wages and labor productivity Persian Gulf States |
| url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1042263 |
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