| Description |
1 online resource (55 pages) : color illustrations |
| Series |
IMF working paper ; WP/14/177 |
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IMF working paper ; WP/14/177.
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| Contents |
Cover; CONTENTS; I. Introduction; II. Seven Propositions; FIGURES; 1. Average Oil Exports (Percent of Total Exports); 2. MENA Breakeven Oil Prices (), 2013; 3. Composition of Real GDP by Sector, 2012 (2005 constant); 4. Goods Export Composition, 2010; 5. Labor Market Composition, 2012; 6. Social Indicators; 7. GDP per Worker (PPP 2005 Constant), 1970-2010; 8. GDP per Worker Relative to the US (PPP 2005 Constant), 1980 vs. 2010; 9. GDP per Worker Relative to the US (PPP 2005 Constant), 1970-2010; 10. Total Factor Productivity Growth vs. Initial Real GDP per Worker, 1980-2010 |
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11. Growth Decomposition, 1970-2010 (1970=100)12. Goods Exports Sophistication, 1976-2006; 13. TFP Growth vs. Export Sophistication Growth; 14. Bahrain vs. Singapore: Output Structure, 1990-2011; 15. Bahrain vs. Singapore: Export Structure, 2008; 16. Average TFP Growth vs. Non-oil Real GDP Growth, 1980-2010; 17. Initial Machinery Real Exports per Capita (1970) vs. Oil Revenues (1970-2012); 18. Machinery Real Exports per Capita (1970 vs. 2000) vs. Oil Revenues (1970-2000); 19. Goods Exports Sophistication, 1976-2006: Canada, Denmark, Malaysia, and Norway |
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20. Export Sophistication and Oil Revenues through Time21. Real Consumption per Capita and Real Oil Price, 1980-2010; 22. Governance and Institutions Indicators; 23. Education: Years vs. Quality of Schooling; 24. Pre-primary School Statistics, 2000-2011; 25. Research and Development Expenditures (Percent of GDP, Averages); 26. Years of Schooling, Chile vs. Malaysia; III. Concluding Remarks; References; APPENDICES; Appendix I. Main Economic Characteristics of Oil Exporters; Appendix II. Diversification Experience of Oil Exporters |
| Summary |
A key priority for the Gulf Cooperation Council (GCC) countries is to create a dynamic non-oil tradable sector to support sustainable growth. Since export diversification takes a long time, it has to start now. We argue that the failure to diversify away from oil stems mainly from market failures rather than government failures. To tackle market failures, the government needs to change the incentive structure for workers and firms. Experiences of oil exporters that managed to diversify suggest that a focus on competing in international markets and an emphasis on technological upgrade and climbing the "quality ladder" are crucial.--Abstract |
| Notes |
"September 2014." |
| Bibliography |
Includes bibliographical references (pages 39-44) |
| Notes |
Online resource; title from pdf title page (IMF.org Web site, viewed September 30, 2014) |
| Subject |
Petroleum industry and trade -- Persian Gulf States
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Exports -- Persian Gulf States
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Foreign trade promotion -- Persian Gulf States
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Diversification in industry -- Persian Gulf States
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Industrial policy -- Persian Gulf States
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Commerce
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Commercial policy
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Diversification in industry
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Economic policy
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Exports
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Foreign trade promotion
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Industrial policy
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Petroleum industry and trade
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| SUBJECT |
Persian Gulf States -- Commerce
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Persian Gulf States -- Commercial policy
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Persian Gulf States -- Economic policy
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| Subject |
Persian Gulf States
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| Form |
Electronic book
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| Author |
Hasanov, Fuad, 1978- author.
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International Monetary Fund, issuing body.
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Gulf Cooperation Council.
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| ISBN |
9781498319300 |
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1498319300 |
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