Natural Resource Abundance, Growth, and Diversification in the Middle East and North Africa: The Effects on Natural Resources and the Role of Policies ... (Directions in Development - Trade) - Softcover

 
9780821395912: Natural Resource Abundance, Growth, and Diversification in the Middle East and North Africa: The Effects on Natural Resources and the Role of Policies ... (Directions in Development - Trade)

Synopsis

MENA is one of the richest regions in the world in terms of natural resources: it holds more than 60 percent of the world's proven oil reserves, mostly located in the Gulf region, and nearly half of gas reserves. Oil represents 80-85 percent of merchandise exports in the region, making it highly depending on fluctuations in international prices. A long strand of economic literature has suggested that such dependence may hurt a country's growth prospects and the scope for job creation by reducing economic diversification.

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