Export Spillovers from Global Shocks for the Middle East and Central Asia

This paper quantifies the effect of realized and potential global growth disappointments on export volumes from the Middle East, North Africa, the Caucasus, and Central Asia. Estimates of export elasticities with respect to trading partner GDP indicate non-oil export volumes are relatively responsiv...

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Bibliographic Details
Main Author: Behar, Alberto
Other Authors: Espinosa-Bowen, Jaime
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2014
Series:IMF Working Papers
Subjects:
Oil
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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653 |a Energy: Demand and Supply 
653 |a Oil prices 
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653 |a Investments: Energy 
653 |a Trade: Forecasting and Simulation 
653 |a Trade: General 
653 |a Exports and Imports 
653 |a International economics 
653 |a Petroleum industry and trade 
653 |a International Business Cycles 
653 |a Commodities 
653 |a Energy: General 
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520 |a This paper quantifies the effect of realized and potential global growth disappointments on export volumes from the Middle East, North Africa, the Caucasus, and Central Asia. Estimates of export elasticities with respect to trading partner GDP indicate non-oil export volumes are relatively responsive while service exports are less responsive. Downward revisions to global GDP growth for 2011–14 have impeded export performance, and the possibility of disappointing GDP growth in Europe and emerging markets presents further downside risks for exports. The Maghreb countries are particularly sensitive to developments in Europe, while CCA countries are more susceptible to growth in the BRICS.