Economic growth and investment in the Arab world

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• dc.contributor.author Sala-i-Martin, Xavier, 1963-ca
• dc.contributor.author V. Artadi, Elsaca
• 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.date.modified 2017-07-23T02:07:40Z
• 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/pdfca
• dc.identifier https://econ-papers.upf.edu/ca/paper.php?id=683
• dc.identifier.uri http://hdl.handle.net/10230/504
• 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.accessRights info:eu-repo/semantics/openAccess
• dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
• 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.title Economic growth and investment in the Arab worldca
• dc.type info:eu-repo/semantics/workingPaper