Globalization and Growth Prospect in Arab Countries

Patricia Alonso-Gamo

No 1997/125, IMF Working Papers from International Monetary Fund

Abstract: Globalization—the intensification of international trade and finance linkages underpinned by economic liberalization and technological change—presents both challenges and opportunities to Arab countries. After reviewing this region’s disappointing performance in integration and growth, this paper analyzes the empirical relationship between the two and concludes that integration is necessary if high growth rates are to be attained and the region is not to become marginalized. It then identifies the main obstacles to the integration of Arab countries into the world economy and reviews recent progress in overcoming them. On this basis, the paper derives some policy prescriptions.

Keywords: WP; Arab country; economic activity; private sector; terms of trade; world economy; Globalization; growth; Arab countries; per capita income; Gulf state; relative position vis-à-vis; state monopoly; oil country; Foreign direct investment; Exports; Trade liberalization; Imports; Global; Sub-Saharan Africa; Western Hemisphere; Middle East; North Africa (search for similar items in EconPapers)
Pages: 49
Date: 1997-09-01
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:1997/125

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