PRODUCTIVITY PROSOPOPOEIA IN GCC'S COUNTRIES: A GROWTH ACCOUNTING PERSPECTIVE

Yahya Alshehhi ()
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Yahya Alshehhi: faculty of economics University of Debrecen

Annals of Faculty of Economics, 2017, vol. 1, issue 1, 541-554

Abstract: Through the past 16 years, the GCC region, testified swift changes such demographic, economic, and societal. GCC countries have taken important strides in economic development over the past, but it faces a number of challenges in the light of developments in the changing of the global economic environment, which affect the path of sustainable economic growth in the GCC countries, that rely heavily on oil. Since 2001, the GCC’s GDP has risen by an annual average of 11.28% and by a cumulative total of 346.39%. Meantime, the population has increased from 30.80 million in 2001 to 51.50 million in 2014, as same period the annual average increase of gross capital grown formation by 13.41%, that accumulative total of 482%. This study aimed to outlook the productivity tendency in two dimensions as a whole country and labor productivity trend among GCC member countries through using growth accounting model. The question of this study, diversification strategies adopted by them, especially after declining of oil prices in 1998-1999, resulted seemed to have no impact on productivity performance throughout examined inputs. GCC member’s countries have not achieved optimal productivity at the aggregate production level, or even at the grade of labor productivity not to all members, but with some exceptions. The productivity performance was moving in negative trend in all members specifically from 2001-2014. Unlike, the period between 2010-2014, where just the UAE achieved positive productivity growth. The contribution growth share of labor inputs was dominated from 2001-2014, unlike the spot in the SAU, where was affected mostly by the gross capital formation. In the UAE, the labor productivity per capita achieved positive growth from 2001-2014 and 2010-2014, where had the similar in the BHN and KWT just the period from 2010-2014. The performance of TFP was moving in negative direction specifically between 2002-2010.

Keywords: Productivity growth; labor productivity; TFP; growth accounting; GCC (search for similar items in EconPapers)
JEL-codes: C23 E23 E24 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:ora:journl:v:1:y:2017:i:1:p:541-554

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