{"id":600266,"date":"2019-01-23T04:02:08","date_gmt":"2019-01-23T04:02:08","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/23\/reliance-on-indexes-will-delay-much-needed-economic-reform-in-gcc-countries\/"},"modified":"2019-01-23T04:02:08","modified_gmt":"2019-01-23T04:02:08","slug":"reliance-on-indexes-will-delay-much-needed-economic-reform-in-gcc-countries","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/23\/reliance-on-indexes-will-delay-much-needed-economic-reform-in-gcc-countries\/","title":{"rendered":"Reliance on indexes will delay much-needed economic reform in GCC countries"},"content":{"rendered":"

CONTRARIAN VIEW- GCC index upgrades benefit nobody in the long term: <\/b>Reliance on indexes will delay much-needed economic reform in GCC countries, Karen Young writes for Bloomberg<\/a>. Saudi Arabia, Qatar, Bahrain, the UAE and Kuwait are all set to join emerging market indexes this year, a process which open the floodgates for investment to pour into Gulf markets. And while the inflows will have benefits, they are no substitute for organic economic growth, she says.<\/p>\n

An inhibitor of sustainable growth: <\/b>Access to easy money via indexes may incentivize states to hold-off on undertaking the kind of deeper structural reforms necessary to foster local private sector growth. Entrepreneurs and young businesses will struggle to compete against the state-backed behemoths, while real political and economic reforms are kicked into the long grass. \u201cRather than passive inflows, governments need to kick-start direct investment from both foreign and local sources by getting serious about reforms that support new business creation and provide jobs,\u201d Young writes.<\/p>\n

Investor risk will increase: <\/b>Investments will become increasingly susceptible to volatility in the oil markets as energy-dependent Gulf states are included in EM indexes. This is compounded by the fact that GCC debt has risen to account for 30% of all bond issuances in the emerging markets. What\u2019s more, investors are unlikely to take heed and will continue to be \u201cblindly-led by indexes,\u201d she concludes.<\/p>\n","protected":false},"excerpt":{"rendered":"

CONTRARIAN VIEW- GCC index upgrades benefit nobody in the long term: Reliance on indexes will delay much-needed economic reform in GCC countries, Karen Young writes for Bloomberg. Saudi Arabia, Qatar, Bahrain, the UAE and Kuwait are all set to join emerging market indexes this year, a process which open the floodgates for investment to pour […]<\/p>\n","protected":false},"author":1,"featured_media":600267,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9003],"tags":[115,72,164,1304,2397],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-600266","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-worth-reading","tag-emerging-markets","tag-enterpriseam","tag-equities","tag-gcc","tag-worth-reading","wpautop","entry"],"acf":{"mongo_id":"e1e2fb39-63b7-477f-9d15-1383f0dd7f52","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2019\/1\/1125.jpg","photo_position":"above","related_issue":[600241],"teaser":"","voice_url":""},"yoast_head":"\nReliance on indexes will delay much-needed economic reform in GCC countries - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/23\/reliance-on-indexes-will-delay-much-needed-economic-reform-in-gcc-countries\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reliance on indexes will delay much-needed economic reform in GCC countries\" \/>\n<meta property=\"og:description\" content=\"CONTRARIAN VIEW- GCC index upgrades benefit nobody in the long term: Reliance on indexes will delay much-needed economic reform in GCC countries, Karen Young writes for Bloomberg. Saudi Arabia, Qatar, Bahrain, the UAE and Kuwait are all set to join emerging market indexes this year, a process which open the floodgates for investment to pour […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/23\/reliance-on-indexes-will-delay-much-needed-economic-reform-in-gcc-countries\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-01-23T04:02:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2019\/1\/1125.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/23\/reliance-on-indexes-will-delay-much-needed-economic-reform-in-gcc-countries\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/23\/reliance-on-indexes-will-delay-much-needed-economic-reform-in-gcc-countries\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Reliance on indexes will delay much-needed economic reform in GCC countries\",\"datePublished\":\"2019-01-23T04:02:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/23\/reliance-on-indexes-will-delay-much-needed-economic-reform-in-gcc-countries\/\"},\"wordCount\":237,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/23\/reliance-on-indexes-will-delay-much-needed-economic-reform-in-gcc-countries\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2019\/1\/1125.jpg?fit=%2C&ssl=1\",\"keywords\":[\"emerging markets\",\"EnterpriseAM\",\"equities\",\"GCC\",\"worth reading\"],\"articleSection\":[\"Worth reading\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/23\/reliance-on-indexes-will-delay-much-needed-economic-reform-in-gcc-countries\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/23\/reliance-on-indexes-will-delay-much-needed-economic-reform-in-gcc-countries\/\",\"name\":\"Reliance on indexes will delay much-needed economic reform in GCC countries - 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