Series: IMF Working Papers
Author(s): Christine Richmond , Irene Yackovlev , and Susan Yang
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 12 June 2013
Keywords: natural, resource, resource-rich, DSGE models, oil, budget constraint, government budget constraint, capital investment, Exhaustible Resources and Economic Development, Economic Growth of Open Economies
Natural resource revenues are an increasingly important financing source for public investment in many developing economies. Investing volatile resource revenues, however, may subject an economy to macroeconomic in...