Estimating the Growth Impact of Economic Transformation in Qatar

Kularatne Chandana (), Ken Miyajima and Dirk Muir
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Kularatne Chandana: International Monetary Fund, Washington, USA

Review of Middle East Economics and Finance, 2024, vol. 20, issue 3, 239-266

Abstract: Qatar’s economic growth and improvements in living standards have been underpinned by a state-led, hydrocarbon-intensive growth model. More recently, Qatar has been undergoing an economic transformation toward a growth model that is more dynamic, knowledge-based, sustainable, and led by the private sector. It will be guided by the recently published Third National Development Strategy, which aims to achieve the National Vision 2030. This paper suggests key reforms to achieve this goal, quantifying their potential impact on the real economy using a semi-structural, general equilibrium model that includes Qatar. Model simulations suggest substantial benefits from labor market reforms, particularly those that would increase the participation of skilled expatriate workers. They also suggest large growth gains from reforms for the business environment, including those that improve access to finance.

Keywords: dynamic stochastic general equilibrium models; economic diversification; gains from reforms; Qatar; national vision (search for similar items in EconPapers)
JEL-codes: E12 E17 F41 F47 O47 O53 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1515/rmeef-2024-0011

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