External linkages and policy constraints in Saudi Arabia /

External linkages and policy constraints in Saudi Arabia /

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Bibliographic Details
Author / Creator:	Westelius, Niklas J. (Niklas Johan), 1969- author.
Imprint:	[Washington, D.C.] : International Monetary Fund, ©2013.
Description:	1 online resource (30 pages) : color illustrations
Language:	English
Series:	IMF working paper ; WP/13/59 IMF working paper ; WP/13/59.
Subject:	Petroleum industry and trade -- Saudi Arabia. Economic history. Economic policy. International economic relations. Petroleum industry and trade. Saudi Arabia -- Economic policy. Saudi Arabia -- Economic conditions. Saudi Arabia -- Foreign economic relations. Saudi Arabia.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12501620

Hidden Bibliographic Details
Other authors / contributors:	International Monetary Fund. Middle East and Central Asia Department.
ISBN:	9781475559477 147555947X 9781475598575 1475598572
Notes:	Title from PDF title page (IMF Web site, viewed Mar. 13, 2013). "Middle East and Central Asia"--Page 2 of pdf. "March 2013"--Page 2 of pdf. Includes bibliographical references (pages 28-29).
Summary:	"The constraints that external linkages impose on domestic policy choices in Saudi Arabia have continuously evolved over the past four decades. This paper argues that two major ongoing developments in particular have affected and will continue to affect policy trade-offs. First, growing oil needs of emerging market economies (EMEs), and specifically those of developing Asia, have strengthened economic links between the Far East and Saudi Arabia. Second, financial sector development in Saudi Arabia has gradually strengthened the monetary transmission mechanism. The former implies the increased importance of developing Asia's growth cycle for the Saudi economy, while the latter suggests greater influence of U.S. monetary policy on the non-oil economy through the peg to the U.S dollar. As a result, divergence between the growth cycles in developing Asia and the United States has the potential to increasingly generate tension between policy objectives in Saudi Arabia"--Abstract.

Description
Summary:	The constraints that external linkages impose on domestic policy choices in Saudi Arabia have continuously evolved over the past four decades. This paper argues that two major ongoing developments in particular have affected and will continue to affect policy trade-offs. First, growing oil needs of emerging market economies (EMEs), and specifically those of developing Asia, have strengthened economic links between the Far East and Saudi Arabia. Second, financial sector development in Saudi Arabia has gradually strengthened the monetary transmission mechanism. The former implies the increased importance of developing Asia's growth cycle for the Saudi economy, while the latter suggests greater influence of U.S. monetary policy on the non-oil economy through the peg to the U.S dollar. As a result, divergence between the growth cycles in developing Asia and the United States has the potential to increasingly generate tension between policy objectives in Saudi Arabia.
Item Description:	Title from PDF title page (IMF Web site, viewed Mar. 13, 2013). "Middle East and Central Asia"--Page 2 of pdf. "March 2013"--Page 2 of pdf.
Physical Description:	1 online resource (30 pages) : color illustrations
Bibliography:	Includes bibliographical references (pages 28-29).
ISBN:	9781475559477 147555947X 9781475598575 1475598572