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dc.contributor.author Sala-i-Martin, Xavier, 1963-
dc.contributor.author V. Artadi, Elsa
dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
dc.date.accessioned 2017-07-26T10:50:52Z
dc.date.available 2017-07-26T10:50:52Z
dc.date.issued 2003-05-01
dc.identifier https://econ-papers.upf.edu/ca/paper.php?id=683
dc.identifier.uri http://hdl.handle.net/10230/504
dc.description.abstract This paper analyses the economic growth performance in the Arab world over the last forty years. The Arab world has managed to reduce poverty performance despite its relatively disappointing growth performance. We relate this poor performance of both oil and non-oil producers to investment. Contrary to widespread belief, we do not find evidence that low quantity of investment is the main of low growth. The decline in the investment rate followed rather than preceded the reduction in the aggregate growth rate. We conclude that the low quality of investment projects is the key determinant of growth. The excessive reliance on public investment, the low quality of financial institutions, the bad business environment (due to political and social instability and to excessive public intervention and overregulation) and the low quality of human capital are important determinants of systematically unproductive investment decisions and, thus, low economic growth.
dc.format.mimetype application/pdf
dc.language.iso eng
dc.relation.ispartofseries Economics and Business Working Papers Series; 683
dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.title Economic growth and investment in the Arab world
dc.type info:eu-repo/semantics/workingPaper
dc.date.modified 2017-07-23T02:07:40Z
dc.subject.keyword economic growth
dc.subject.keyword investment
dc.subject.keyword the arab world
dc.subject.keyword Macroeconomics and International Economics
dc.subject.keyword Labour, Public, Development and Health Economics
dc.rights.accessRights info:eu-repo/semantics/openAccess

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