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Tourism Specialization and Economic Development+L4183; Evidence from the UNESCO World Heritage List

Piotrowski, John M.; Arezki, Rabah; Cherif, Reda - International Monetary Fund (IMF) - 2009

The present paper investigates whether tourism specialization is a viable strategy for development. We estimate … standard growth equations augmented with a variable measuring tourism specialization using instrumental variables techniques … for a large cross-section of countries for the period 1980-2002. We introduce an instrument for tourism based on the …

Persistent link: https://www.econbiz.de/10008528655

From Subprime Loans to Subprime Growth? Evidence for the Euro Area

Cihák, Martin; Brooks, Petya Koeva - International Monetary Fund (IMF) - 2009

The global financial crisis has highlighted the potential of financial conditions for influencing real economic activity. We examine the linkages between the financial and real sectors in the euro area, finding that (i) bank loan supply responds negatively to declines in bank soundness; (ii) a...

Persistent link: https://www.econbiz.de/10005825755

Economic Diversification in the GCC: Past, Present, and Future

Callen, Tim; Cherif, Reda; Hasanov, Fuad; Hegazy, Amgad; … - International Monetary Fund (IMF) - 2014

Abstract: The economies of the six Gulf Cooperation Council (GCC) countries are heavily reliant on oil. Greater economic diversification would reduce their exposure to volatility and uncertainty in the global oil market, help create jobs in the private sector, increase productivity and...

Persistent link: https://www.econbiz.de/10011245892

Soaring of the Gulf Falcons: Diversification in the GCC Oil Exporters in Seven Propositions

Cherif, Reda; Hasanov, Fuad - International Monetary Fund (IMF) - 2014

A key priority for the Gulf Cooperation Council (GCC) countries is to create a dynamic non-oil tradable sector to support sustainable growth. Since export diversification takes a long time, it has to start now. We argue that the failure to diversify away from oil stems mainly from market...

Persistent link: https://www.econbiz.de/10011242377

Credit Constraints, Productivity Shocks and Consumption Volatility in Emerging Economies

Bhattacharya, Rudrani; Patnaik, Ila - International Monetary Fund (IMF) - 2013

consumption volatility. Calibration of the model for pre and post financial reform in India provides support for the model's key …

Persistent link: https://www.econbiz.de/10010790416