Diop, NdiaméMarotta, Danielade Melo, JaimeDiop, NdaméMarotta, Danielade Melo, Jaime2012-12-112012-12-112012-09-08978-0-8213-9591-2https://hdl.handle.net/10986/11956This book is organized as follows: this first chapter examines the pattern of structural transformation in Middle East and North Africa, or MENA and summarizes the role of various factors examined thoroughly in the rest of the volume. This second chapter examines the correlates of this overall disappointing performance. At the macro level, MENA countries have been unable to maintain depreciated (undervalued) real exchange rates for long periods, yet such undervaluation has proved important to offset the market failures and poor institutional environment that severely hit the dynamic non-resource-intensive traded sectors. This third chapter shows that services sectors in resource-rich MENA countries have been declining as a share of gross domestic product (GDP) and of non-mining GDP as per capita incomes increase. This fourth chapter explores the presence of systematic differences between the patterns of diversification in MENA and the rest of the world. This fifth chapter shows that from a historical perspective, fiscal policy has not contributed significantly to diversification in MENA, because it has been more oriented toward food and fuel subsidies (consumption) rather than toward public goods such as infrastructure (investment). Finally, in this sixth chapter, the authors emphasize the different characteristics of the regional partners in terms of their resource endowments and consider wealth distribution effects within the region.en-USCC BY 3.0 IGOADVERSE EFFECTSAGRICULTURAL PRODUCTIVITYAGRICULTUREARABLE LANDBASE YEARBENCHMARKINGBENCHMARKSBUSINESS ENVIRONMENTCAPITAL ACCUMULATIONCAPITAL FORMATIONCIVIL WARCIVIL WARSCLOSED ECONOMIESCOMMODITIESCOMMODITYCOMMODITY PRICECOMMON MARKETCOMMUNICATION TECHNOLOGYCOMPARATIVE ADVANTAGECOMPETITIVENESSCONSUMER GOODSCONSUMER PRICE INDEXCONSUMPTION EXPENDITURESCONTRACT ENFORCEMENTCPICROWDING OUTDEMOCRACIESDEMOCRACYDESCRIPTIVE STATISTICSDEVELOPING COUNTRIESDEVELOPING COUNTRYDEVELOPING ECONOMIESDEVELOPING WORLDDEVELOPMENT ECONOMICSDIVERSIFICATIONDOMESTIC COMPETITIONECONOMETRICSECONOMIC ACTIVITIESECONOMIC ACTIVITYECONOMIC CONCENTRATIONECONOMIC COOPERATIONECONOMIC DEVELOPMENTECONOMIC EFFICIENCYECONOMIC GROWTHECONOMIC INTEGRATIONECONOMIC OPPORTUNITIESECONOMIC PERFORMANCEECONOMIC RESEARCHECONOMIC THEORYECONOMICSECONOMICS RESEARCHECONOMIES OF SCALEELASTICITYEMPIRICAL EVIDENCEEMPIRICAL RESULTSEXCHANGE RATEEXCHANGE RATE REGIMESEXPENDITURESEXPLOITATIONEXPORT DIVERSIFICATIONEXPORT GROWTHEXPORT MARKETSEXPORTSEXPOSUREEXTERNALITIESFACTOR PRICESFINANCIAL CRISISFINANCIAL DEVELOPMENTFINANCIAL SUPPORTFISCAL POLICIESFISCAL POLICYFIXED CAPITALFIXED EXCHANGE RATE REGIMESFLEXIBLE EXCHANGE RATESFOREIGN CAPITALFOREIGN DIRECT INVESTMENTFREE TRADEFREE TRADE AGREEMENTGDPGDP PER CAPITAGLOBAL ECONOMYGLOBAL RISKGLOBALIZATIONGROSS DOMESTIC PRODUCTGROSS FIXED CAPITAL FORMATIONGROWTH EPISODEGROWTH IN TRADEGROWTH MODELSGROWTH PERFORMANCEGROWTH PROCESSGROWTH RATEGROWTH RATESHIGH CONCENTRATIONHIGH GROWTHHUMAN CAPITALINCOME ELASTICITYINCOME ELASTICITY OF DEMANDINCOME GROUPINCOME GROUPSINCOMES INCREASEINDIVIDUAL COUNTRIESINDUSTRIAL DEVELOPMENTINDUSTRIAL SECTORINDUSTRIALIZATIONINFRASTRUCTURE INVESTMENTSINPUT PRICESINSTITUTIONAL ENVIRONMENTINTERMEDIATE GOODSINTERNATIONAL LABOUR ORGANIZATIONINTERNATIONAL TRADEJOB CREATIONLABOR FORCELONG RUNLONG-RUN GROWTHLONG-TERM GROWTHMACROECONOMIC ISSUESMACROECONOMIC POLICIESMACROECONOMIC POLICYMACROECONOMIC STABILITYMACROECONOMICSMANUFACTURING INDUSTRIESMARGINAL EFFECTMARKET ACCESSMARKET ENTRYMARKET FAILURESMARKET PARTICIPANTSMARKET REGULATIONSMARKET SHAREMARKET SHARESMICROFINANCENATIONAL INCOMENATURAL MONOPOLIESNATURAL RESOURCENATURAL RESOURCESNEGATIVE EFFECTNEGATIVE IMPACTNEW MARKETSNEW PRODUCTSNON-OIL TRADEOILOIL EXPORTERSOIL PRICESOIL RESERVESOPECOPEN ECONOMYOUTPUTOUTPUT GROWTHOUTPUT VOLATILITYOUTPUTSOVERVALUATIONPER CAPITA GROWTHPER CAPITA INCOMEPER CAPITA INCOMESPOLICY IMPLICATIONSPOLICY ISSUESPOLICY MAKERSPOLICY RESEARCHPOLITICAL ECONOMYPOOR COUNTRIESPOOR GOVERNANCEPOVERTY REDUCTIONPOWER PARITYPRICE INDEXESPRICE LEVELSPRICE SUBSIDYPRIVATE CAPITALPRIVATE INVESTMENTPRIVATE SECTOR DEVELOPMENTPRODUCTION COSTSPRODUCTION STRUCTURESPRODUCTIVITYPRODUCTIVITY GROWTHPROPERTY RIGHTSPUBLIC EXPENDITURESPUBLIC FINANCEPUBLIC FINANCESPUBLIC GOODSPUBLIC SECTORPURCHASING POWERREAL ESTATEREAL EXCHANGE RATEREAL EXCHANGE RATESREAL GDPREGIONAL INTEGRATIONREGIONAL TRADEREGULATORY RESTRICTIONSRENT SEEKINGRESOURCE MANAGEMENTRICH COUNTRIESSAVINGSSCIENTIFIC RESEARCHSECTOR ACTIVITYSECTOR REFORMSSTANDARD DEVIATIONSTRUCTURAL CHANGETECHNOLOGICAL ADVANCESTERMS OF TRADETOTAL FACTOR PRODUCTIVITYTRADABLE SECTORSTRADE COMPETITIVENESSTRADE DIVERSIONTRADE LIBERALIZATIONTRADE POLICIESTRADE POLICYTRADE REFORMSTRANSPARENCYUNDERVALUATIONVOLATILITYWAGESWEALTHWEALTH DISTRIBUTIONWORLD DEVELOPMENT INDICATORSWORLD ECONOMYWORLD TRADEWORLD TRADE ORGANIZATIONWTOWorld Bank10.1596/978-0-8213-9591-2