CHAPTER 11 Natural Resources Management and Financial Stability: Evidence from Algeria
Author:
Mr. Amadou N Sy
Search for other papers by Mr. Amadou N Sy in
Current site
Google Scholar Close
,
Mr. Rabah Arezki
Search for other papers by Mr. Rabah Arezki in
Current site
Google Scholar Close
, and
Thorvaldur Gylfason https://isni.org/isni/0000000404811396 International Monetary Fund

Search for other papers by Thorvaldur Gylfason in
Current site
Google Scholar Close
Language:
English
Print Publication Date:
19 Jan 2012
Keywords:
BOOK; country; commodity; government; natural resource; resource abundance; petroleum fund; resource rent; resource windfall; Natural resources; Commodity prices; Oil; Sub-Saharan Africa; Global; Africa; Middle East; Europe; investment-saving imbalance; investment financing; gross investment; revenue regulation fund; Credit; Financial sector stability; Commercial banks; State-owned banks

Abstract

After two decades of investment efforts financed primarily through external debt and domestic bank loans, Algerian economic development has remained dependent on hydrocarbon resources. As a result of “managed” resource allocation and petroleum price volatility, the economy registered persistent financial instability through the first half of the 1990s, despite the stabilization and adjustment programs and related exceptional financing arrangements. The Algerian economy remained highly vulnerable to external shocks until the beginning of the 2000s—a period characterized by restored macroeconomic equilibrium.

Within Same Series

Other IMF Content

Other Publishers Content

  • Collapse
  • Expand
Cover Beyond the Curse
Beyond the Curse
Policies to Harness the Power of Natural Resources
ISBN:
9781616351458
Publication Date:
19 Jan 2012
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781616351458.071
Pages:
288