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

42 Pages Posted: 12 Sep 2018

See all articles by Kamiar Mohaddes

Kamiar Mohaddes

University of Cambridge - Judge Business School; University of Cambridge - King's College, Cambridge

Jeffrey B. Nugent

University of Southern California - Department of Economics

Hoda Selim

Economic Research Forum (ERF)

Multiple version iconThere are 3 versions of this paper

Date Written: September 11, 2018

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.

Keywords: Fiscal policy, fiscal institutions, fiscal sustainability, public spending efficiency, budget transparency, fiscal rules, volatility, oil curse, Arab World, oil exporters, and Middle East and North Africa

JEL Classification: E02, E62, H50, H60, H61, O53

Suggested Citation

Mohaddes, Kamiar and Nugent, Jeffrey B. and Selim, Hoda, Reforming Fiscal Institutions in Resource-Rich Arab Economies: Policy Proposals (September 11, 2018). CAMA Working Paper No. 41/2018, Available at SSRN: https://ssrn.com/abstract=3248040 or http://dx.doi.org/10.2139/ssrn.3248040

Kamiar Mohaddes (Contact Author)

University of Cambridge - Judge Business School ( email )

Trumpington Street
Cambridge, CB2 1AG
United Kingdom
+44 (0)1223 766933 (Phone)

HOME PAGE: http://https://www.mohaddes.org/

University of Cambridge - King's College, Cambridge ( email )

King's Parade
Cambridge, CB2 1ST
United Kingdom
+44 (0)1223 766933 (Phone)

HOME PAGE: http://https://www.mohaddes.org/

Jeffrey B. Nugent

University of Southern California - Department of Economics ( email )

3620 South Vermont Ave. Kaprielian (KAP) Hall, 300
Los Angeles, CA 90089
United States
510-740-2107 (Phone)
510-740-8543 (Fax)

Hoda Selim

Economic Research Forum (ERF) ( email )

21 Al-Sad Al-Aaly St.
(P.O. Box: 12311)
Dokki, Cairo
Egypt

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