External linkages and policy constraints in Saudi Arabia /
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| 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: | |
| Format: | E-Resource Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12501620 |
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| 100 | 1 | |a Westelius, Niklas J. |q (Niklas Johan), |d 1969- |e author. |0 http://id.loc.gov/authorities/names/no2006090588 | |
| 245 | 1 | 0 | |a External linkages and policy constraints in Saudi Arabia / |c Niklas Johan Westelius. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2013. | ||
| 300 | |a 1 online resource (30 pages) : |b color illustrations | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF working paper ; |v WP/13/59 | |
| 500 | |a Title from PDF title page (IMF Web site, viewed Mar. 13, 2013). | ||
| 500 | |a "Middle East and Central Asia"--Page 2 of pdf. | ||
| 500 | |a "March 2013"--Page 2 of pdf. | ||
| 520 | |a "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. | ||
| 504 | |a Includes bibliographical references (pages 28-29). | ||
| 505 | 0 | |a Cover; Contents; I. Introduction; II. External Linkages; A. Trade in Goods and Services; B. Labor Flows; C. Capital Flows; D. Evolution of External Linkages; III. Policy Objectives; Figures; 1. Evolution of External Linkages; A. Development Strategy; B. Monetary and Exchange Rate Policy; C. Fiscal Policy; D. Oil Production and Pricing Policies; 2. The Importance of U.S. Monetary Policy and Oil Revenues for Domestic; IV. Empirical Analyses of External Linkages and Policy Constraints; Tables; 1. Main External Factors Influencing the Saudi Economy. | |
| 505 | 8 | |a A. Business Cycle Correlations and Global Oil Prices3. Business Cycle Correlations, 1980-2010; B. Oil Shocks and Business Cycle Dynamics; 2. Quantity and Price Changes in past; 4. Oil prices and Crude Oil Consumption in China; C. The Time-Consistency Problem and Counter-Cyclical Fiscal Policy; 5. Discretionary Fiscal Policy and Oil Revenues, 1996-2010; 6. Smoothing Fiscal Spending against Volatile Oil Revenues; D. Financial Deepening and the Monetary Transmission Mechanism; 7. Measures of Financial Deepening, 1969-2010; 3. Granger Causality Test for Real Credit and Non-Oil GDP. | |
| 505 | 8 | |a 8. Impulse Responses from the Real Credit/Non-Oil GDP VAR4. Variance Decomposition; V. Conclusion; 5. The Impact of LIBOR on Credit and Inflation; References. | |
| 651 | 0 | |a Saudi Arabia |x Economic policy. | |
| 651 | 0 | |a Saudi Arabia |x Economic conditions. | |
| 651 | 0 | |a Saudi Arabia |x Foreign economic relations. | |
| 650 | 0 | |a Petroleum industry and trade |z Saudi Arabia. | |
| 650 | 6 | |a Pétrole |x Industrie et commerce |z Arabie saoudite. | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Economic Conditions. |2 bisacsh | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Economic History. |2 bisacsh | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Economics |x Comparative. |2 bisacsh | |
| 650 | 7 | |a POLITICAL SCIENCE |x Economic Conditions. |2 bisacsh | |
| 650 | 7 | |a Economic history. |2 fast |0 (OCoLC)fst00901974 | |
| 650 | 7 | |a Economic policy. |2 fast |0 (OCoLC)fst00902025 | |
| 650 | 7 | |a International economic relations. |2 fast |0 (OCoLC)fst00976891 | |
| 650 | 7 | |a Petroleum industry and trade. |2 fast |0 (OCoLC)fst01059546 | |
| 651 | 7 | |a Saudi Arabia. |2 fast |0 (OCoLC)fst01210372 | |
| 655 | 4 | |a Electronic books. | |
| 710 | 2 | |a International Monetary Fund. |b Middle East and Central Asia Department. |0 http://id.loc.gov/authorities/names/no2004029012 | |
| 830 | 0 | |a IMF working paper ; |v WP/13/59. |0 http://id.loc.gov/authorities/names/no89010263 | |
| 856 | 4 | 0 | |u http://elibrary.imf.org/view/journals/001/2013/059/001.2013.issue-059-en.xml |y INTERNATIONAL MONETARY FUND |
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