Institutions and Macroeconomic Policies in Resource-Rich Arab Economies

Kamiar Mohaddes is a Janeway Fellow in Economics at the University of Cambridge and a Senior Lecturer and Fellow in Economics at Girton College, University of Cambridge. He is a Research Fellow of the Economic Research Forum, and serves as its Thematic Co-Leader for the macroeconomics theme. His main areas of research are macroeconomics, global and national macroeconometric modelling, and energy economics. His research has been published in edited volumes and leading journals, and has been covered in major international news outlets. He holds a PhD in Economics from the University of Cambridge. Jeffrey Nugent is a Development Economist who has worked on a wide variety of issues, problems and analytical techniques and in and on a variety of countries from Latin America, Africa, South and East Asia and especially the Middle East and North Africa. In recent years, much of it has made use of new institutional economics and political economy perspectives. Among his most recent research interests in the Middle East region have been the measurement, determinants and effects of rigidity in labor regulations, trade and economic integration, the effects of natural resources on institutions and growth, conflict, refugees and approaches to conflict resolution. Hoda Selim is an Economist at International Monetary Fund. Previously, she worked the Economic Research Forum (ERF) in Cairo and the World Bank's Cairo Office. She is a research fellow at ERF. Her research focuses on the macroeconomics of oil management, the political economy of development as well as macroeconomic policy issues in the Arab region. She is a contributor to International Development Ideas, Experience, and Prospects (Oxford University Press, 2014). Her co-edited volume, Understanding and Avoiding the Oil Curse in the Arab World, was published in 2016 (Cambridge University Press).

1: Kamiar Mohaddes, Jeffrey B. Nugent, and Hoda Selim: Objectives, Issues, and Findings
Part I: What Determines Macroeconomic Policies: Institutions or Oil Wealth?
2: Adeel Malik: The Political Economy of Macroeconomic Policy in Resource-rich Arab Economies
3: Amany El-Anshassy, Kamiar Mohaddes, and Jeffrey Nugent: Oil, Volatility and Institutions: Cross-Country Evidence from Major Oil Producers
4: Ibrahim Elbadawi, Mohamed Goaied, and Moez Ben Tahar: Threshold effects of Fiscal-Monetary Interdependence and Exchange Rate Regimes in Oil-Dependent Arab Economies
Part II: Which Macroeconomic Institutions can be Most Effective for Commodity Exporters?
5: Hoda Selim: Does Central Bank Independence Matter in Arab Oil Exporters?
6: Jeffrey Frankel: The Currency-plus-Commodity Basket: A Proposal for Exchange Rates in Oil-Exporting Countries to Accommodate Trade Shocks Automatically
7: Bassem Kamar and Raimundo Soto: Exchange Rate Regimes and Economic Performance in Resource Dependent Economies
8: Shanta Devarajan: How to use Oil Revenues Efficiently
9: Kamiar Mohaddes, Jeffrey B. Nugent, and Hoda Selim: Reforming Fiscal Institutions in Resource-Rich Arab Economies: Policy Proposals
Part III: Assessment of Fiscal Institutions through a Political Economy lens in Arab Commodity Exporters
10: Kabbashi M. Suliman: The Political Economy of Fiscal Institutions and Macroeconomic Management in Sudan
11: Hoda El Enbaby and Hoda Selim: Fiscal Outcomes in Bahrain: Oil Price Volatility, Fiscal Institutions or Politics?
12: Raimundo Soto: Fiscal Institutions and Macroeconomic Management in the United Arab Emirates