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Natural Resource Abundance, Growth, and Diversification in the Middle East and North Africa : The Effects of Natural Resources and the Role of Policies

ADVERSE EFFECTS AGRICULTURAL PRODUCTIVITY AGRICULTURE ARABLE LAND BASE YEAR BENCHMARKING BENCHMARKS BUSINESS ENVIRONMENT CAPITAL ACCUMULATION CAPITAL FORMATION CIVIL WAR CIVIL WARS CLOSED ECONOMIES COMMODITIES COMMODITY COMMODITY PRICE COMMON MARKET COMMUNICATION TECHNOLOGY COMPARATIVE ADVANTAGE COMPETITIVENESS CONSUMER GOODS CONSUMER PRICE INDEX CONSUMPTION EXPENDITURES CONTRACT ENFORCEMENT CPI CROWDING OUT DEMOCRACIES DEMOCRACY DESCRIPTIVE STATISTICS DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING ECONOMIES DEVELOPING WORLD DEVELOPMENT ECONOMICS DIVERSIFICATION DOMESTIC COMPETITION ECONOMETRICS ECONOMIC ACTIVITIES ECONOMIC ACTIVITY ECONOMIC CONCENTRATION ECONOMIC COOPERATION ECONOMIC DEVELOPMENT ECONOMIC EFFICIENCY ECONOMIC GROWTH ECONOMIC INTEGRATION ECONOMIC OPPORTUNITIES ECONOMIC PERFORMANCE ECONOMIC RESEARCH ECONOMIC THEORY ECONOMICS ECONOMICS RESEARCH ECONOMIES OF SCALE ELASTICITY EMPIRICAL EVIDENCE EMPIRICAL RESULTS EXCHANGE RATE EXCHANGE RATE REGIMES EXPENDITURES EXPLOITATION EXPORT DIVERSIFICATION EXPORT GROWTH EXPORT MARKETS EXPORTS EXPOSURE EXTERNALITIES FACTOR PRICES FINANCIAL CRISIS FINANCIAL DEVELOPMENT FINANCIAL SUPPORT FISCAL POLICIES FISCAL POLICY FIXED CAPITAL FIXED EXCHANGE RATE REGIMES FLEXIBLE EXCHANGE RATES FOREIGN CAPITAL FOREIGN DIRECT INVESTMENT FREE TRADE FREE TRADE AGREEMENT GDP GDP PER CAPITA GLOBAL ECONOMY GLOBAL RISK GLOBALIZATION GROSS DOMESTIC PRODUCT GROSS FIXED CAPITAL FORMATION GROWTH EPISODE GROWTH IN TRADE GROWTH MODELS GROWTH PERFORMANCE GROWTH PROCESS GROWTH RATE GROWTH RATES HIGH CONCENTRATION HIGH GROWTH HUMAN CAPITAL INCOME ELASTICITY INCOME ELASTICITY OF DEMAND INCOME GROUP INCOME GROUPS INCOMES INCREASE INDIVIDUAL COUNTRIES INDUSTRIAL DEVELOPMENT INDUSTRIAL SECTOR INDUSTRIALIZATION INFRASTRUCTURE INVESTMENTS INPUT PRICES INSTITUTIONAL ENVIRONMENT INTERMEDIATE GOODS INTERNATIONAL LABOUR ORGANIZATION INTERNATIONAL TRADE JOB CREATION LABOR FORCE LONG RUN LONG-RUN GROWTH LONG-TERM GROWTH MACROECONOMIC ISSUES MACROECONOMIC POLICIES MACROECONOMIC POLICY MACROECONOMIC STABILITY MACROECONOMICS MANUFACTURING INDUSTRIES MARGINAL EFFECT MARKET ACCESS MARKET ENTRY MARKET FAILURES MARKET PARTICIPANTS MARKET REGULATIONS MARKET SHARE MARKET SHARES MICROFINANCE NATIONAL INCOME NATURAL MONOPOLIES NATURAL RESOURCE NATURAL RESOURCES NEGATIVE EFFECT NEGATIVE IMPACT NEW MARKETS NEW PRODUCTS NON-OIL TRADE OIL OIL EXPORTERS OIL PRICES OIL RESERVES OPEC OPEN ECONOMY OUTPUT OUTPUT GROWTH OUTPUT VOLATILITY OUTPUTS OVERVALUATION PER CAPITA GROWTH PER CAPITA INCOME PER CAPITA INCOMES POLICY IMPLICATIONS POLICY ISSUES POLICY MAKERS POLICY RESEARCH POLITICAL ECONOMY POOR COUNTRIES POOR GOVERNANCE POVERTY REDUCTION POWER PARITY PRICE INDEXES PRICE LEVELS PRICE SUBSIDY PRIVATE CAPITAL PRIVATE INVESTMENT PRIVATE SECTOR DEVELOPMENT PRODUCTION COSTS PRODUCTION STRUCTURES PRODUCTIVITY PRODUCTIVITY GROWTH PROPERTY RIGHTS PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC FINANCES PUBLIC GOODS PUBLIC SECTOR PURCHASING POWER REAL ESTATE REAL EXCHANGE RATE REAL EXCHANGE RATES REAL GDP REGIONAL INTEGRATION REGIONAL TRADE REGULATORY RESTRICTIONS RENT SEEKING RESOURCE MANAGEMENT RICH COUNTRIES SAVINGS SCIENTIFIC RESEARCH SECTOR ACTIVITY SECTOR REFORMS STANDARD DEVIATION STRUCTURAL CHANGE TECHNOLOGICAL ADVANCES TERMS OF TRADE TOTAL FACTOR PRODUCTIVITY TRADABLE SECTORS TRADE COMPETITIVENESS TRADE DIVERSION TRADE LIBERALIZATION TRADE POLICIES TRADE POLICY TRADE REFORMS TRANSPARENCY UNDERVALUATION VOLATILITY WAGES WEALTH WEALTH DISTRIBUTION WORLD DEVELOPMENT INDICATORS WORLD ECONOMY WORLD TRADE WORLD TRADE ORGANIZATION WTO
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Washington, DC: World Bank
Middle East and North Africa | North Africa | Middle East
Diop, Ndamé | Marotta, Daniela | de Melo, Jaime
2012-12-11T19:17:16Z | 2012-12-11T19:17:16Z | 2012-09-08

This book is organized as follows: this first chapter examines the pattern of structural transformation in Middle East and North Africa, or MENA and summarizes the role of various factors examined thoroughly in the rest of the volume. This second chapter examines the correlates of this overall disappointing performance. At the macro level, MENA countries have been unable to maintain depreciated (undervalued) real exchange rates for long periods, yet such undervaluation has proved important to offset the market failures and poor institutional environment that severely hit the dynamic non-resource-intensive traded sectors. This third chapter shows that services sectors in resource-rich MENA countries have been declining as a share of gross domestic product (GDP) and of non-mining GDP as per capita incomes increase. This fourth chapter explores the presence of systematic differences between the patterns of diversification in MENA and the rest of the world. This fifth chapter shows that from a historical perspective, fiscal policy has not contributed significantly to diversification in MENA, because it has been more oriented toward food and fuel subsidies (consumption) rather than toward public goods such as infrastructure (investment). Finally, in this sixth chapter, the authors emphasize the different characteristics of the regional partners in terms of their resource endowments and consider wealth distribution effects within the region.

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