Investment and Growth in the Middle East and North Africa

Author/Editor:

Amer Bisat ; Mohamed A. El-Erian ; Mahmoud El-Gamal ; Francesco P Mongelli

Publication Date:

November 1, 1996

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

The paper considers investment and growth in the Middle East and North Africa (MENA) region. Notwithstanding cross-country differences, investment as a whole has been too low, too heavily tilted toward the public sector, too highly dependent on external influences, and less productive than in many other regions. Improving the region’s investment performance is critical if policymakers are to succeed in increasing the region’s economic growth rate. After discussing the relationship between investment and growth, the paper analyzes the investment responsiveness of various countries in the region and notes the policy priorities for strengthening the basis for rapid and sustained economic growth.

Series:

Working Paper No. 1996/124

Subject:

Balance of payments Capital productivity Expenditure Financial institutions Foreign direct investment National accounts Private investment Production Public investment spending Stocks

English

Publication Date:

November 1, 1996

ISBN/ISSN:

9781451854671/1018-5941

Stock No:

WPIEA1241996

Pages:

38

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