How to Avoid the Arab Resource Curse
Join CCAS for a book launch of the new volume, “Institutions and Macroeconomic Policies in Resource-rich Arab Economies,” featuring editors and contributing authors to the book.
Joseph Sassoon (Discussion Chair) Professor, School of Foreign Service and History Department, Georgetown University
Ibrahim Elbadawi (Contributing Author) Minister of Finance and Economy, Republic of Sudan (joining via video call)
Shanta Devarajan (Contributing Author) Professor, School of Foreign Service, Georgetown University
Hoda Selim (Volume Co-editor) Research Fellow, Economic Research Forum
Nada Eissa (Discussant) Associate Professor, McCourt School of Public Policy, Georgetown University
About the Volume
For over eighty years the Arab region has been deriving massive wealth from its natural resources. Nevertheless, its economic performance has been at the mercy of ebbs and flows of oil prices and its resources have been slowly depleting. The two critical questions are why and how Arab countries might escape the oil curse.
Institutions and Macroeconomic Policies in Resource-Rich Arab Economies focuses on the unique features of the Arab world to explain the disappointing outcomes of macroeconomic policy. It explores the interaction between oil and institutions to draw policy recommendations on how Arab countries can best exploit their oil revenues to avoid the resource curse. Case studies and contributions from experts provide an understanding of macroeconomic institutions (including their underlying rules, procedures and institutional arrangements) in oil-rich Arab economies and of their political economy environment, which has largely been overlooked in previous research.
The volume offers novel macroeconomic policy propositions for exchange rate regimes, fiscal policy and oil wealth distribution that is more consistent with macroeconomic stability and fiscal sustainability. These policy reforms, if implemented successfully, could go a long way in helping the resource-rich countries of the Arab region and elsewhere to avoid the oil curse.
Please direct any questions or requests for accommodation to firstname.lastname@example.org.