Monetary Policy and Economic Performance in Resource Dependent Economies

Raimundo Soto and Bassem Kamar ()

No 1123, Working Papers from Economic Research Forum

Abstract: The aim of this paper is to explore and quantify the role of monetary policy on economic performance in resource-based economies, with a particular focus on Middle East economies. We consider two dimensions of performance: long-run economic growth and price instability (inflation). At the international level, there is mixed evidence regarding the long-run growth record of resource-abundant economies. In some countries, natural resources have turned into a curse of protracted inefficiency, low economic growth and perpetual instability. In other economies, natural resources have played an important role in fostering stability and sustained economic growth. Furthermore, resource rich economies tend to suffer from higher and more unstable levels of price inflation; nevertheless, this malaise is less pronounced in oil exporters. A crucial component in our study is to assess the role of exchange rate regimes and their interplay with monetary and fiscal policies.

Pages: 35
Date: 2017-20-07, Revised 2017
New Economics Papers: this item is included in nep-ara and nep-mon
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Published by The Economic Research Forum (ERF)

Downloads: (external link)
http://erf.org.eg/wp-content/uploads/2017/06/1123.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://erf.org.eg/wp-content/uploads/2017/06/1123.pdf [301 Moved Permanently]--> https://erf.org.eg/wp-content/uploads/2017/06/1123.pdf)
http://bit.ly/2sLH1iZ

Related works:
Working Paper: Monetary Policy and Economic Performance in Resource Dependent Economies (2015)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:erg:wpaper:1123

Access Statistics for this paper

More papers in Working Papers from Economic Research Forum Contact information at EDIRC.
Bibliographic data for series maintained by Namees Nabeel ().