An Empirical Investigation of Oil-Macro-Financial Linkages in Saudi Arabia

An Empirical Investigation of Oil-Macro-Financial Linkages in Saudi Arabia
Author: Mr.Ken Miyajima
Publisher: International Monetary Fund
Total Pages: 23
Release: 2016-02-12
Genre: Business & Economics
ISBN: 1498330320

Download An Empirical Investigation of Oil-Macro-Financial Linkages in Saudi Arabia Book in PDF, Epub and Kindle

Oil-macro-financial linkages in Saudi Arabia are analyzed by applying panel econometric frameworks (multivariate and vector autoregression) to maceoeconomic and bank-level balance sheet data for 9 banks spanning 1999–2014. Lower growth of oil prices and non-oil private sector output leads to slower credit and deposit growth and higher nonperforming loan ratios, with feedback loops within bank balance sheets which in turn dampens economic activity. U.S. interest rates are not found to be a key determinant.

An Empirical Investigation of Oil-Macro-Financial Linkages in Saudi Arabia

An Empirical Investigation of Oil-Macro-Financial Linkages in Saudi Arabia
Author: Mr.Ken Miyajima
Publisher: International Monetary Fund
Total Pages: 23
Release: 2016-02-12
Genre: Business & Economics
ISBN: 1498331270

Download An Empirical Investigation of Oil-Macro-Financial Linkages in Saudi Arabia Book in PDF, Epub and Kindle

Oil-macro-financial linkages in Saudi Arabia are analyzed by applying panel econometric frameworks (multivariate and vector autoregression) to maceoeconomic and bank-level balance sheet data for 9 banks spanning 1999–2014. Lower growth of oil prices and non-oil private sector output leads to slower credit and deposit growth and higher nonperforming loan ratios, with feedback loops within bank balance sheets which in turn dampens economic activity. U.S. interest rates are not found to be a key determinant.

Saudi’s Growth and Financial Spillovers to Other GCC Countries: An Empirical Analysis

Saudi’s Growth and Financial Spillovers to Other GCC Countries: An Empirical Analysis
Author: Mr.Olumuyiwa S Adedeji
Publisher: International Monetary Fund
Total Pages: 17
Release: 2018-12-11
Genre: Business & Economics
ISBN: 1484391063

Download Saudi’s Growth and Financial Spillovers to Other GCC Countries: An Empirical Analysis Book in PDF, Epub and Kindle

This paper examines real and financial linkages between Saudi Arabia and other GCC countries. Growth spillovers from Saudi Arabia to Bahrain are found to be sizeable and statistically significant, but those to other GCC countries are not found to be significant. Equity market movements in Saudi Arabia are found to have significant implications for other GCC countries, while there is no evidence of co-movements in bonds markets. These findings suggest some degree of interdependence among GCC countries.

Economic Growth and Government Spending in Saudi Arabia

Economic Growth and Government Spending in Saudi Arabia
Author: Mr.Saad A. Alshahrani
Publisher: International Monetary Fund
Total Pages: 26
Release: 2014-01-13
Genre: Business & Economics
ISBN: 1484348796

Download Economic Growth and Government Spending in Saudi Arabia Book in PDF, Epub and Kindle

This paper empirically examines the effects of different types of government expenditures, on economic growth in Saudi Arabia. We use different econometric techniques to estimate the short- and long-run effects of these expenditures on growth and employ annual data over the period 1969-2010. Our findings indicate that while private domestic and public investments, as well as healthcare expenditure, stimulate growth in the long-run, openness to trade and spending in the housing sector can also boost short-run production. These findings draw some policy implications for Saudi policymakers on maximizing the returns of the government spending on economic growth.

IMF Research Bulletin, March 2016

IMF Research Bulletin, March 2016
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
Total Pages: 20
Release: 2016-04-06
Genre: Business & Economics
ISBN: 1484316673

Download IMF Research Bulletin, March 2016 Book in PDF, Epub and Kindle

The IMF Research Bulletin includes listings of recent IMF Working Papers and Staff Discussion Notes. The research summaries in this issue are “Explaining the Recent Slump in Investment” (Mathieu Bussiere, Laurent Ferrara, and Juliana Milovich) and “The Quest for Stability in the Housing Markets” (Hites Ahir). The Q&A column reviews “Seven Questions on Estimating Monetary Transmission Mechanism in Low-Income Countries” (Bin Grace Li, Christopher Adam, and Andrew Berg). Also included in this issue are updates on the IMF’s official journal, the IMF Economic Review, and recommended readings from IMF Publications.

Global Economic Prospects, June 2016

Global Economic Prospects, June 2016
Author: World Bank Group
Publisher: World Bank Publications
Total Pages: 400
Release: 2016-07-13
Genre: Business & Economics
ISBN: 1464807787

Download Global Economic Prospects, June 2016 Book in PDF, Epub and Kindle

Global growth prospects have deteriorated in 2016. Emerging market and developing economies are facing increased external headwinds, including softer growth in advanced economies. Commodity exporters are struggling with particularly challenging conditions, while commodity importers are thus far showing greater resilience. Global growth is expected to gradually accelerate in 2017-18 but risks to the outlook are increasingly more pronounced. In addition to discussing global and regional economic developments and prospects, this edition of Global Economic Prospects includes two Special Focus essays of critical importance for emerging and developing economies: an analysis of the buildup of private debt in emerging and frontier markets and a quantitative study of uncertainties surrounding global growth. This year marks the 25th anniversary of the Global Economic Prospects. The Global Economic Prospects is a World Bank Group Flagship Report that has, since its inception in 1991, examined international economic developments and prospects, with a special focus on emerging market and developing economies. It has also included analytical essays on a wide range of topical macroeconomic, financial, and structural policy challenges faced by these economies. It is published on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges, while the June edition contains shorter analytical essays.

Global Economic Prospects, January 2017

Global Economic Prospects, January 2017
Author: World Bank Group
Publisher: World Bank Publications
Total Pages: 629
Release: 2017-03-01
Genre: Business & Economics
ISBN: 1464810176

Download Global Economic Prospects, January 2017 Book in PDF, Epub and Kindle

Stagnant global trade, subdued investment, and heightened policy uncertainty marked another difficult year for the world economy. A subdued recovery is expected for 2017, with receding obstacles to activity in commodity exporters and solid domestic demand in commodity importers. Weak investment is weighing on medium-term prospects across many emerging markets and developing economies (EMDEs). Although fiscal stimulus in major economies, if implemented, may boost global growth above expectations, risks to growth forecasts remain tilted to the downside. Important downside risks stem from heightened policy uncertainty in major economies. Global Economic Prospects is a World Bank Group Flagship Report. On a semiannual basis (January and June), it examines global economic developments and prospects, with a special focus on developing countries. The report includes analysis of topical policy challenges faced by developing countries through in-depth research in the January edition and shorter analytical pieces in the June edition.

Saudi Arabia

Saudi Arabia
Author: International Monetary Fund. Middle East and Central Asia Dept.
Publisher: International Monetary Fund
Total Pages: 38
Release: 2019-09-09
Genre: Business & Economics
ISBN: 1513513494

Download Saudi Arabia Book in PDF, Epub and Kindle

This Selected Issues paper explores policies to drive diversification for Saudi Arabia. Diversification is needed to create jobs for Saudis and to mitigate the impact of uncertainty in oil markets. Although the business climate should be improved, and remaining infrastructure gaps addressed, reforms need to go beyond these areas. Diversification in Saudi Arabia that creates jobs for nationals could be held back by the effects of relatively high wages and their impact on cost competitiveness. Creative solutions are needed to address the impact of high government wages and employment on competitiveness. Industrial policy could help overcome the incentives that encourage companies to focus on the nontradable sector, but should be handled carefully, keeping lessons from other countries’ experiences in mind. Export orientation and competition are crucial mechanisms to ensure discipline. Strengthening human capital to raise productivity and provide workers with the skills needed in the private sector will be essential to success.

Economics of Sovereign Wealth Funds

Economics of Sovereign Wealth Funds
Author: Mr.Udaibir S. Das
Publisher: International Monetary Fund
Total Pages: 330
Release: 2010-12-09
Genre: Business & Economics
ISBN: 1589069277

Download Economics of Sovereign Wealth Funds Book in PDF, Epub and Kindle

The book covers a wide range of topics of relevance to policymakers in countries that have sovereign wealth funds (SWFs) and those that receive SWF investments. Renowned experts in the field have contributed chapters. The book is organized around four themes: (1) the role and macrofinancial linkages of SWFs, (2) institutional factors, (3) investment approaches and financial markets, and (4) the postcrisis outlook. The book also discusses the challenges facing sovereign wealth funds in the coming years, from an inside perspective on countries, including Canada, Chile, China, Norway, Russia, and New Zealand. Economics of Sovereign Wealth Funds will contribute to a further understanding of the nature, strategies and behavior of SWFs and the environment in which they operate, as their importance is likely to grow in the coming years.

Nonperforming Loans in the GCC Banking System and their Macroeconomic Effects

Nonperforming Loans in the GCC Banking System and their Macroeconomic Effects
Author: Mr.Raphael A. Espinoza
Publisher: International Monetary Fund
Total Pages: 26
Release: 2010-10-01
Genre: Business & Economics
ISBN: 1455208892

Download Nonperforming Loans in the GCC Banking System and their Macroeconomic Effects Book in PDF, Epub and Kindle

According to a dynamic panel estimated over 1995 - 2008 on around 80 banks in the GCC region, the NPL ratio worsens as economic growth becomes lower and interest rates and risk aversion increase. Our model implies that the cumulative effect of macroeconomic shocks over a three year horizon is indeed large. Firm-specific factors related to risk-taking and efficiency are also related to future NPLs. The paper finally investigates the feedback effect of increasing NPLs on growth using a VAR model. According to the panel VAR, there could be a strong, albeit short-lived feedback effect from losses in banks’ balance sheets on economic activity, with a semi-elasticity of around 0.4.