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Estimating the Growth Impact of Economic Transformation in Qatar

Author

Listed:
  • Kularatne Chandana

    (International Monetary Fund, Washington, USA)

  • Miyajima Ken

    (International Monetary Fund, Washington, USA)

  • Muir Dirk

    (International Monetary Fund, Washington, USA)

Abstract

Qatar’s economic growth and improvements in living standards have been underpinned by a state-led, hydrocarbon-intensive growth model. More recently, Qatar has been undergoing an economic transformation toward a growth model that is more dynamic, knowledge-based, sustainable, and led by the private sector. It will be guided by the recently published Third National Development Strategy, which aims to achieve the National Vision 2030. This paper suggests key reforms to achieve this goal, quantifying their potential impact on the real economy using a semi-structural, general equilibrium model that includes Qatar. Model simulations suggest substantial benefits from labor market reforms, particularly those that would increase the participation of skilled expatriate workers. They also suggest large growth gains from reforms for the business environment, including those that improve access to finance.

Suggested Citation

  • Kularatne Chandana & Miyajima Ken & Muir Dirk, 2024. "Estimating the Growth Impact of Economic Transformation in Qatar," Review of Middle East Economics and Finance, De Gruyter, vol. 20(3), pages 239-266.
    • Handle: RePEc:bpj:rmeecf:v:20:y:2024:i:3:p:239-266:n:1001
    DOI: 10.1515/rmeef-2024-0011
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    More about this item

    Keywords

    dynamic stochastic general equilibrium models; economic diversification; gains from reforms; Qatar; national vision;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • F47 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Forecasting and Simulation: Models and Applications
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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