Growth in the Middle East and North Africa

Dalia Hakura

No 2004/056, IMF Working Papers from International Monetary Fund

Abstract: This paper analyzes the weak growth performance in the Middle East and North Africa (MENA) region during 1980-2000 using an empirical model of long-run growth. The relative importance of the factors affecting growth is shown to vary across 16 MENA countries. In GCC countries, where oil revenues are significant, large governments appear to have been a key factor stifling private-sector growth and impeding diversification. In other MENA countries poor institutional quality has held back growth. Political instability is also shown to have played a role. While the MENA region's growth differential with east Asia is explained well in the 1980s, this is less so in the 1990s.

Keywords: WP; country; Mena; oil country; government; GCC; economic growth; Middle East and North Africa; oil; institutions; conflicts; MENA country; growth differential; GCC country; MENA subgroup; Total factor productivity; Income; Terms of trade; Government consumption; East Asia; Middle East; North Africa; East Africa (search for similar items in EconPapers)
Pages: 37
Date: 2004-04-01
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Citations: View citations in EconPapers (17)

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