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Federal Reserve Bank of Dallas
Globalization Institute Working Papers
Reforming Fiscal Institutions in Resource-Rich Arab Economies: Policy Proposals
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.


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Kamiar Mohaddes & Jeffrey B. Nugent & Hoda Selim, Reforming Fiscal Institutions in Resource-Rich Arab Economies: Policy Proposals, Federal Reserve Bank of Dallas, Globalization Institute Working Papers 346, 04 Sep 2018.
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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
DOI: 10.24149/gwp346
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