Economic cycles in Middle East, North Africa and Pakistan
A new research paper published by the IMF in April examines the economic performance of 20 countries in the Middle East, North Africa and Pakistan.
The authors, Dalia Hakura and Francesco Grigoli, find that episodes of negative real growth rates have been rare for the 20 countries. However, the duration of recessions and recoveries has increased from the 1990s to the 2000s.
Of the 20, hydrocarbon producers' recessions were on average more pronounced in the 2000s, and hydrocarbon importers'
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