We use a new dataset on non-resource GDP to examine the performance of commodity-exporting countries in terms of macroeconomic stability and economic growth in a panel of up to 129 countries during the period 1970-2007. Our main findings are threefold. First, we find that overall government...

Most evidence for the resource curse comes from cross-country growth regressions suffers from a bias originating from the high and ever-evolving volatility in commodity prices. This paper addresses these issues by providing new cross-country empirical evidence for the effect of resources in...

This paper takes stock of the economic performance of resource rich countries in the Middle East and North Africa (MENA) over the past forty years. While those countries have maintained high levels of income per capita, they have performed poorly when going beyond the assessment based on...

We use a new dataset on non-resource GDP to examine the impact of commodity price volatility on economic growth in a panel of up to 158 countries during the period 1970-2007. Our main finding is that commodity price volatility leads to a significant increase in non-resource GDP growth in...

This paper documents the existence of a "middle-income trap" for the Middle East and North Africa region. It argues that the economic woes of the Middle East and North Africa offer new insights into the debate on the trap which has thus far focused on the East Asia and Pacific region. The...

After a sharp fall in 2017, economic growth in MENA is projected to rebound to 3.1 percent in 2018, thanksto the positive global outlook, oil prices stabilizing at relatively higher levels, stabilization policies andreforms, and recovery and reconstruction as conflicts recede. The outlook for...