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Oman and Bahrain are Middle Eastern success stories. There are some key similarities. Both have followed pragmatic …. These improvements occurred in somewhat different settings, with Oman developing in a more authoritarian environment …, whereas Bahrain enjoyed greater democracy but somewhat less stability. While both countries have relied on oil revenues to …
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Oil was discovered in the United Arab Emirates (UAE) just 50 years ago. During that time, UAE has been able to transform itself into a rapidly modernizing country, which is fast becoming a major economic hub and a key player on the international economic landscape. This paper discusses a number...
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Researchers have linked sub-Saharan Africa.s (SSA) poor growth performance in recent decades to several factors, including geography, institutions, and low returns to investment. This literature has not yet integrated the research that identifies linkage
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Aid is said to be fungible at the aggregate level if it raises government expenditures by less than the total amount. This happens when the recipient government decreases domestic revenue, decreases net borrowing, or when aid bypasses the budget. This study makes three contributions to both...
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This study assesses the fiscal and monetary management challenges that can be associated with large inflows of foreign aid. It provides a brief overview of the literature on Dutch Disease (DD) as applied to mineral wealth and then assesses the conventional policy responses that are available to...
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