A Primer on Fiscal Analysis in Oil-Producing Countries PDF Download
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Author: Daria Zakharova
Publisher: INTERNATIONAL MONETARY FUND
ISBN: 9781451872033
Category :
Languages : en
Pages : 39
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Book Description
This paper proposes an integrated approach to fiscal policy analysis in oil producing countries (OPCs) geared towards addressing their unique and complex policy challenges. First, an accurate assessment of the fiscal stance in OPCs can be obscured by large and volatile oil revenue flows. Second, uncertain and volatile oil revenue flows can complicate the management of macroeconomic policies in these countries. Third, given the exhaustibility of oil reserves, OPCs need to address longer-term sustainability and intergenerational equity issues. The use of non-oil fiscal indicators, stress tests, medium-term frameworks, and permanent oil income models can greatly aid in addressing these challenges.
Author: Daria Zakharova
Publisher: INTERNATIONAL MONETARY FUND
ISBN: 9781451872033
Category :
Languages : en
Pages : 39
Get Book Here
Book Description
This paper proposes an integrated approach to fiscal policy analysis in oil producing countries (OPCs) geared towards addressing their unique and complex policy challenges. First, an accurate assessment of the fiscal stance in OPCs can be obscured by large and volatile oil revenue flows. Second, uncertain and volatile oil revenue flows can complicate the management of macroeconomic policies in these countries. Third, given the exhaustibility of oil reserves, OPCs need to address longer-term sustainability and intergenerational equity issues. The use of non-oil fiscal indicators, stress tests, medium-term frameworks, and permanent oil income models can greatly aid in addressing these challenges.
Author: Daria Zakharova
Publisher:
ISBN:
Category : Electronic books
Languages : en
Pages :
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Book Description
Author: Paulo A. Medas
Publisher:
ISBN:
Category : Fiscal policy
Languages : en
Pages : 39
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Book Description
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451962533
Category : Business & Economics
Languages : en
Pages : 25
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Book Description
This paper presents a detailed analysis of the average fiscal policy responses of oil producing countries (OPCs) to the recent oil price cycle. We find that OPCs worsened their non-oil primary balances substantially during 2003-2008 driven by an increase in primary spending. However, this trend was partially reversed when oil prices went down in 2009. We also find evidence that fiscal policy has been procyclical and has hence exacerbated the fluctuations in economic activity. In addition, we estimate that a small reduction in oil prices could lead to very large financing needs in the near future. Finally, we show that long-term fiscal sustainability positions in OPCs have worsened.
Author: Mr.Jeffrey M. Davis
Publisher: INTERNATIONAL MONETARY FUND
ISBN: 9781589061750
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
Countries with large oil resources can benefit substantially from them. However, despite their huge natural resources, many oil producers have had disappointing growth, widespread poverty, and continuing vulnerability to oil price and other external shocks. Fiscal policy can play a central role indetermining the extent to which a country benefits from its oil wealth. This book brings together studies that provide analysis and findings on fiscal policy issues in oil-producing countries from a diverse international perspective. A key focus for the authors is how to manage oil resources in a way that contributes to a stable macroeconomic environment, sustainable growth, and poverty reduction.
Author: Mauricio Villafuerte
Publisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 26
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Book Description
Author: Steven Barnett
Publisher:
ISBN:
Category :
Languages : es
Pages : 34
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Book Description
Author: Ehtisham Ahmad
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 30
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Book Description
Based on country experiences, the paper assesses policy options to assign oil revenues to subnational governments (SNGs). The literature recommends that oil revenues be centralized. Given political economy considerations, this paper suggests that a possible alternative is to assign stable oil-tax bases to oil-producing SNGs, supplementing these with predictable transfers from the center. Although commonly used, oil revenue-sharing arrangements are the least preferable solution, as they complicate macroeconomic management and do not provide stable financing. Revenue sharing also does not diffuse separatist tendencies, since oil-producing SNGs would still be better off by keeping their oil revenues in full.
Author: Dina Azhgaliyeva
Publisher:
ISBN:
Category :
Languages : en
Pages : 352
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Book Description
Author: Internationaler Währungsfonds
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This paper examines the fiscal responses of oil-producing countries (OPCs) to the oil boom through 2005 and the role of special fiscal institutions (SFIs)-oil funds, fiscal rules and fiscal responsibility legislation (FRL), and budgetary oil prices-in fiscal management in OPCs, and draws some general lessons.
