For oil-exporters, the sharp decline in oil prices is also a
reminder of the vulnerabilities inherent in a highly
concentrated reliance on oil exports and an opportunity
to reinvigorate their efforts to diversify. These efforts
should focus on proactive measures to move incentives
away from activities in the non-tradable sector and
employment in the public sector, including encouraging
high-value added activities, exports in non-resource
intensive sectors, and development of skills that are
important for private sector employment (Gill et. al,
2014; Cherif and Hasanof, 2014a and 2014b).