4 edition of Economic reform in Arab countries found in the catalog.
Includes bibliographical references.
|Statement||International Monetary Fund|
|Publishers||International Monetary Fund|
|The Physical Object|
|Pagination||xvi, 83 p. :|
|Number of Pages||85|
|2||IMF working paper -- WP/93/39|
nodata File Size: 2MB.
Arab countries should not rush ahead, but rather monitor variables on a micro level and understand how the state can preserve its role as the main service provider and legislative authority while allowing small and big businesses to work together, developing the productive base and agricultural sectors, and improving productivity and exports. As compared to the 1970s, it was characterized by weaker macroeconomic performance.
Other fiscal sector reforms The dominant role of the public sector in Arab countries has also been reflected in the structure and size of the central government budget.
Flush with billions of petrodollars, many Gulf Cooperation Council GCC countries have doled out huge sums in order to stave off growing protests and appease basic economic grievances. To be successful, these policies will need to be supported by a prudent demand management stance, as well an open international trading system and, for some countries, the provision of timely external financial assistance.
Economic reform in Arab countries forcefully addressing the institutional and financial constraints constitutes a necessary but not sufficient condition for effective public sector enterprise reform in Arab countries.
In contrast, others have persevered with comprehensive adjustment and reform programs, placing them more firmly on the road to sustained medium-term economic growth and financial stability.
Their effectiveness, however, has been constrained by, inter alia, the absence of interbank transactions e. In addition to the adjustment and reform policies discussed elsewhere in this paper--policies that enhance the average return on private investment due to an improved operating environment --some Arab countries have adopted a number of specific measures including tax holidays and free zones.
Societies where individuals are autonomous and where there is political inclusion, can find solutions to improve the quality of public services and reduce the existing gaps in labour markets, enhancing equality of opportunity.
Another sector that is of particular interest is entertainment and content creation.
The Arab Spring articulated a clear demand for political freedoms.
This weakness in the legislative structure, combined with the presence of a small group of all-powerful businessmen, resulted in an economy characterized by the transition of state assets into private hands.