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

Author

Listed:
  • Kamiar Mohaddes
  • Jeffrey B. Nugent
  • Hoda Selim
Abstract
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.

Suggested Citation

  • Kamiar Mohaddes & Jeffrey B. Nugent & Hoda Selim, 2018. "Reforming Fiscal Institutions in Resource-Rich Arab Economies: Policy Proposals," Globalization Institute Working Papers 346, Federal Reserve Bank of Dallas.
    • Handle: RePEc:fip:feddgw:346
    DOI: 10.24149/gwp346
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    References listed on IDEAS

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    More about this item

    Keywords

    Fiscal policy; fiscal institutions; fiscal sustainability; public spending; efficiency; budget transparency; fiscal rules; volatility; oil curse; Arab World; oil exporters; Middle East; North Africa;
    All these keywords.

    JEL classification:

    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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