Investment and Growth in the Middle East and North Africa

Amer Bisat, Mohamed El-Erian, Mahmoud El-Gamal and Francesco Mongelli

No 1996/124, IMF Working Papers from International Monetary Fund

Abstract: The paper considers investment and growth in the Middle East and North Africa (MENA) region. Notwithstanding cross-country differences, investment as a whole has been too low, too heavily tilted toward the public sector, too highly dependent on external influences, and less productive than in many other regions. Improving the region’s investment performance is critical if policymakers are to succeed in increasing the region’s economic growth rate. After discussing the relationship between investment and growth, the paper analyzes the investment responsiveness of various countries in the region and notes the policy priorities for strengthening the basis for rapid and sustained economic growth.

Keywords: WP; MENA country; investment responsiveness; MENA region; MENA investment; investment performance; GDP ratio; investment challenge; investment decision; Stocks; Private investment; Capital productivity; Foreign direct investment; Public investment spending; Middle East; North Africa; East Africa; Asia and Pacific (search for similar items in EconPapers)
Pages: 38
Date: 1996-11-01
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Citations: View citations in EconPapers (17)

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Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:1996/124

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