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When digitalization pervades, business models converge: A conceptual model for the electricity industry (2025)
Journal Article
Fuentes, R., & Fattouh, B. (online). When digitalization pervades, business models converge: A conceptual model for the electricity industry. Business Horizons, https://doi.org/10.1016/j.bushor.2025.01.003

While decarbonization in the electricity sector has been studied extensively, there has been less attention paid to the digital transition. Not only can digital technologies improve efficiency and reduce operational costs in this sector, but they als... Read More about When digitalization pervades, business models converge: A conceptual model for the electricity industry.

Debt and Financial Fragility: Italian Non-Financial Companies after the Pandemic (2024)
Journal Article
Fattouh, B., Pisicoli, B., & Scaramozzino, P. (2024). Debt and Financial Fragility: Italian Non-Financial Companies after the Pandemic. Economic Modelling, 131, Article 106628. https://doi.org/10.1016/j.econmod.2023.106628

This paper analyses the evolution of debt of Italian firms from 2010 to 2020 with special focus on the first year of the Covid-19 pandemic. We use quantile regressions to assess the vulnerabilities of the most indebted firms. On average Italian non-f... Read More about Debt and Financial Fragility: Italian Non-Financial Companies after the Pandemic.

Debt and Financial Fragility: Italian Non-Financial Companies after the Pandemic (2023)
Preprint / Working Paper
Fattouh, B., Pisicoli, B., & Scaramozzino, P. Debt and Financial Fragility: Italian Non-Financial Companies after the Pandemic. Rome

This paper analyses the evolution of debt of Italian firms from 2010 to 2020 with special focus on the first year of the Covid-19 pandemic. By means of quantile regressions, our approach investigates several heterogeneities to assess the vulnerabilit... Read More about Debt and Financial Fragility: Italian Non-Financial Companies after the Pandemic.

Challenging the Resource Curse Narrative: The Case of Qatar’s Sovereign Wealth Fund and Education Strategy (2023)
Thesis
Al-Thani, N. G. A. Challenging the Resource Curse Narrative: The Case of Qatar’s Sovereign Wealth Fund and Education Strategy. (Thesis). SOAS University of London

For much of the last century, the resource curse theory has been used to explain the volatile and unproductive economic performance of resource-abundant states. By highlighting the negative institutional, political, and economic externalities associa... Read More about Challenging the Resource Curse Narrative: The Case of Qatar’s Sovereign Wealth Fund and Education Strategy.

Electricity Markets in the Resource-Rich Countries of the MENA: Adapting for the Transition Era (2021)
Journal Article
Fattouh, B., Sen, A., & Poudineh, R. (2021). Electricity Markets in the Resource-Rich Countries of the MENA: Adapting for the Transition Era. Economics of Energy & Environmental Policy, 10(1), https://doi.org/10.5547/2160-5890.10.1.rpou

The Middle East and North Africa’s (MENA) resource-rich economies are pursuing two parallel strategies in their electricity sectors: (i) increasing and integrating renewables into their power generation mix to mitigate the impact of rising domestic o... Read More about Electricity Markets in the Resource-Rich Countries of the MENA: Adapting for the Transition Era.

An integrated approach to electricity sector reforms in the resource rich economies of the MENA (2020)
Journal Article
Poudineh, R., Sen, A., & Fattouh, B. (2020). An integrated approach to electricity sector reforms in the resource rich economies of the MENA. Energy Policy, 138, Article 111236. https://doi.org/10.1016/j.enpol.2019.111236

This paper argues that MENA resource-rich economies must go beyond simply replicating the “standard model” of electricity market liberalisation. They need to not only adapt the standard model to their unique contexts but also integrate it with other... Read More about An integrated approach to electricity sector reforms in the resource rich economies of the MENA.

A Brief Political Economy of Energy Subsidies in the Middle East and North Africa (2017)
Book Chapter
Fattouh, B., & El-Katiri, L. (2017). A Brief Political Economy of Energy Subsidies in the Middle East and North Africa. In G. Luciani (Ed.), Combining Economic and Political Development: The Experience of MENA (58-87). Leiden. https://doi.org/10.1163/9789004336452_005

Energy subsidies are among the most pervasive and controversial fiscal policy tools used in the Middle East and North Africa (mena). In a region with few functioning social welfare systems, subsidised energy prices continue to form an important socia... Read More about A Brief Political Economy of Energy Subsidies in the Middle East and North Africa.

The dynamics of the revenue maximization–market share trade-off: Saudi Arabia’s oil policy in the 2014–15 price fall (2016)
Journal Article
Fattouh, B., Poudineh, R., & Sen, A. (2016). The dynamics of the revenue maximization–market share trade-off: Saudi Arabia’s oil policy in the 2014–15 price fall. Oxford Review of Economic Policy, 32(2), 223-240. https://doi.org/10.1093/oxrep/grw010

Given its highly undiversified economic base, maximizing revenues will always rank highly in Saudi Arabia’s output decision. However, this objective needs to be balanced against another—maintaining its share in key markets and maximizing long-term re... Read More about The dynamics of the revenue maximization–market share trade-off: Saudi Arabia’s oil policy in the 2014–15 price fall.

Causes and Implications of Shifts in Financial Participation in Commodity Markets (2014)
Journal Article
Fattouh, B., & Mahadeva, L. (2014). Causes and Implications of Shifts in Financial Participation in Commodity Markets. The Journal of Futures Markets, 34(8), 757-787. https://doi.org/10.1002/fut.21674

We assess the causes and implications of the greater financial participation in commodity markets post‐2003. Focusing on crude oil, we build a calibrated macro‐finance model of oil prices and quantities that also determines consumer welfare. We show... Read More about Causes and Implications of Shifts in Financial Participation in Commodity Markets.

Energy subsidies in the Middle East and North Africa (2013)
Journal Article
Fattouh, B., & El-Katiri, L. (2013). Energy subsidies in the Middle East and North Africa. Energy Strategy Reviews, 2(1), 108-115. https://doi.org/10.1016/j.esr.2012.11.004

The policy of maintaining tight control of domestic energy prices has been widely spread in the Middle East and North Africa. Energy subsidies that keep domestic energy prices below market prices serve as a strategic tool to promote industrialization... Read More about Energy subsidies in the Middle East and North Africa.

East Mediterranean Gas: What Kind of Game Changer? (2012)
Preprint / Working Paper
El-Katiri, L., Fattouh, B., & Darbouche, H. East Mediterranean Gas: What Kind of Game Changer?. Oxford

The discovery of sizable gas resources in the Levant Basin, a geological structure that straddles the territorial waters of Cyprus, Israel, the Palestinian Territories, Lebanon, and Syria, has the potential to be game-changing for the East Mediterran... Read More about East Mediterranean Gas: What Kind of Game Changer?.

On Oil Embargos and the Myth of the Iranian Oil Weapon (2012)
Digital Artefact
El-Katiri, L., & Fattouh, B. (2012). On Oil Embargos and the Myth of the Iranian Oil Weapon. [Energy Comment]

The exchange of threats between Iran and the West vis-à-vis Iranian oil exports to European and other consumer countries has received wide attention among policy makers and analysts; IMF officials predict that crude oil prices could increase by as mu... Read More about On Oil Embargos and the Myth of the Iranian Oil Weapon.

Energy Subsidies in the Arab World (2012)
Preprint / Working Paper
Fattouh, B., & El-Katiri, L. Energy Subsidies in the Arab World. New York, NY

The policy of maintaining tight control of domestic energy prices has characterized the political and economic environment in most Arab countries, together with many other parts of the world, for decades. The objectives behind such a policy range fro... Read More about Energy Subsidies in the Arab World.

Anatomy of an Oil-Based Welfare State: Rent Distribution in Kuwait (2011)
Report
El-Katiri, L., Fattouh, B., & Segal, P. (2011). Anatomy of an Oil-Based Welfare State: Rent Distribution in Kuwait

Oil wealth has transformed Kuwait within decades from a modest, trade-based desert emirate into a modern city-state. It has also created a relatively egalitarian economy based on an extensive distributive system that provides Kuwaiti citizens with es... Read More about Anatomy of an Oil-Based Welfare State: Rent Distribution in Kuwait.