Understanding oil and mineral resources in a political economy context: the case of the Middle East and North Africa (MENA)

Alrawashdeh, Rami; Alnawafleh, Hani M.; Al-Shboul, Mohammad

doi:10.1007/s13563-013-0035-3

Cited by 17 publications

(6 citation statements)

References 18 publications

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“…However, the oil countries converge to long‐run economic growth faster than the non‐oil countries even though their government size has been smaller than that of the oil countries over the last three decades. It is plausible that the non‐oil countries converge to long‐run economic growth slower than the oil countries because the non‐oil countries rely more on the remittances of workers in the oil countries, foreign aid from countries worldwide, and tourism revenues (see Al‐rawashdeh, Alnawafleh, & Al‐Shboul, 2013). Table 4 also shows the findings of the PMG estimation of the long‐run and short‐run coefficients of government expenditures.…”

Section: Resultsmentioning

confidence: 99%

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Government expenditures and economic growth in the MENA region: A dynamic heterogeneous panel estimation

et al. 2020

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This study examines the dynamic heterogeneous effect of government expenditures on economic growth in 20 Middle East and North Africa (MENA) countries during the 1990-2016 period. The results reveal that a dynamic adjustment in economic growth in the MENA region occurred from the short to the long run. Arguably, government expenditures can promote economic growth. In the long run, the coefficients of government expenditures are positive and significant in oil and non-oil countries; in the short run, the coefficient is statistically significant in oil countries but not in non-oil countries. The coefficients of government expenditures markedly differ between the two groups. For the MENA region, as a whole, government expenditures exhibit a crowding-in effect instead of a crowding-out effect on growth. Importantly, to sustain economic growth, non-oil countries must embark fiscal reform measures promptly by optimizing government expenditures. Oil countries should consider the implications of short-and medium-term fiscal imbalances.

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Section: Resultsmentioning

confidence: 99%

“…For the Hausman test, the p values are reported in brackets. & Al-Shboul, 2013). Table 4 also shows the findings of the PMG estimation of the long-run and short-run coefficients of government expenditures.…”

Section: Notementioning

confidence: 99%

Government expenditures and economic growth in the MENA region: A dynamic heterogeneous panel estimation

et al. 2020

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“…In the 1970s, GDP growth rates in the oil-exporting countries (except Kuwait and Iran) were significantly higher than the regional and oil-importing average growth rates. Also, non-oil exporting countries, except Syria, performed relatively well during the 1970s mainly due to the rapid increase in workers’ remittances, foreign aid, foreign investment and trade flow from oil-exporting countries (Al-rawashdeh et al, 2013). Ilahi and Shendy (2008) pointed out that real GDP growth rates, private consumption and private investment in the oil-importing MENA countries are significantly explained by financial and remittance outflows from GCC countries.…”

Section: Middle East and North Africa: Economic Growth Performance Rementioning

confidence: 99%

Analysis of Growth Accounting and Convergence in MENA Countries: Panel Cointegration Approach

Malik

Masood

2020

South Asian Journal of Macroeconomics and Public Finance

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The objective of this study is to investigate the sources of output growth and their convergence in the Middle East and North African countries over the period 1970–2017. Towards this end, the study employs Levin et al. (2002, Journal of Econometrics, vol. 108, pp. 1–24), Fisher-type (Choi, 2001, Journal of International Money and Finance, vol. 20, pp. 249–272) and Im et al. (2003, Journal of Econometrics, vol. 115, pp. 53–74) panel unit root tests and Pedroni (2004, Econometric Theory, vol. 20, pp. 597–625), Kao (1999, Journal of Econometrics, vol. 90, pp. 1–44) and Johansen–Fisher cointegration tests. After estimating the production function using random effects estimator to obtain the share of physical capital in output, we employed standard growth accounting approach to measure and decompose growth of total output into contributions from growth in physical capital, labour, human capital and total factor productivity (TFP). Further, the study discusses the existence of stochastic and deterministic convergence of real output per worker and its sources (physical capital per worker, human capital and TFP). The statistical results of the article can be summarized as follows: The contribution of physical capital to output growth is found to be positive and higher than the contribution of labour, whereas the contribution of TFP was negative across the region with the exception of Egypt, Morocco, Tunisia and Turkey. However, when the contribution of human capital is netted out, the contribution of TFP becomes negative in all the countries except for Tunisia. In addition, the study found no clear evidence of deterministic convergence in output per worker (but stochastic convergence), human capital and factor productivity. However, the statistical results provide overwhelming evidence for stochastic and deterministic convergence in physical capital per worker. JEL Classification: O4, O40, O47.

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“…However, the country did not begin exporting oil until the mid-1980s. Even though Syria is not counted among major oil exporters in the Middle East, the 'black gold' plays a pivotal role in the country's economic growth [35]. The "exact oil output levels are difficult to obtain, but according to one U.S. government estimate, Syria produced 522,700 barrels per day (bbl/d) in 2004 and consumed 265,000 bbl/d in 2001".…”

Section: Syrian Economy Before the Conflictmentioning

confidence: 99%

The Political Economy of the Violence in Syria: An Impact-Based Analysis

Haruna

2021

EJSOCIAL

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The civil war that has engulfed the Syrian Arab Republic, since March 2011, is set to unleash a lasting effect on both the political and socio-economic trajectories of the country. The country’s political and economic challenges would be in dire need of outside-the-box curatives long after the violence activities are over. In other words, the political economy of Syria would encounter a set of unparalleled interconnected difficulties that cannot be unriddled by a simple prescription of traditional textbook economic policies. Even though the Syrian economy was able to weather the global economic recession in 2008, it is apparent that, if the country wants to pull through future economic shocks while upholding both political and social stability it desires, then it needs to overhaul its administrative and economic structures. The country’s economy was already in dire difficulties long before the conflict. The most important foreign exchange earner of the country was oil, but production was in sharp decline. In the 1990s, oil output almost doubled. However, in 2002, it fell from a peak of 677,000 barrels per day. Again, only 327,000 bpd were produced in 2011. The civil war has killed over a million Syrians and displaced more than 5.5 million citizens of the country. The country’s economy slumped by over 80 percent from 2010 to 2019. The extreme violence that dominated the scene in Syria has shifted attention away from the deep structural transformations affecting the country’s economy and governance structures. Now that violence has considerably subsided, these are becoming more visible. Much has been written about the ethnic and sectarian divisions in the conflict in Syria. However, very little attention is given to its political economy, which is very crucial in understanding the taproots of the ongoing war. The contraction of the economy of the country and the emergence of a war economy have seriously affected the composition and stratification of the political economy of Syria. This study seeks to examine the political economy of the Syrian civil war, including the exposition of the conditions of the Syrian economy before and during the war, the changing dynamics of the war, and the roles of external players.

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Understanding oil and mineral resources in a political economy context: the case of the Middle East and North Africa (MENA)

Cited by 17 publications

References 18 publications

Government expenditures and economic growth in the MENA region: A dynamic heterogeneous panel estimation

Government expenditures and economic growth in the MENA region: A dynamic heterogeneous panel estimation

Analysis of Growth Accounting and Convergence in MENA Countries: Panel Cointegration Approach

The Political Economy of the Violence in Syria: An Impact-Based Analysis

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