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Fiscal Policy Formulation and Implementation in Oil-Producing Countries

Fiscal Policy Formulation and Implementation in Oil-Producing Countries »

Series: Books

Author(s): Jeffrey Davis , Annalisa Fedelino , and Rolando Ossowski

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 August 2003

DOI: http://dx.doi.org/10.5089/9781589061750.071

ISBN: 9781589061750

Keywords: oil prices, fiscal policy, oil revenues, oil and gas, taxation

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 vulnerabil...

Fiscal Sustainability with Non-Renewable Resources1

Fiscal Sustainability with Non-Renewable Resources1 »

Source: Fiscal Sustainability with Non-Renewable Resources

Volume/Issue: 1998/26

Series: IMF Working Papers

Author(s): Nigel Chalk

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1998

ISBN: 9781451844351

Keywords: Fiscal sustainability, non-renewable resource, oil producers, terms of trade, fiscal position, oil prices, fiscal policies

This paper assesses sustainable fiscal behavior in an economy where wealth is derived predominantly from a non-renewable resource. It explores the issue in a simple dynamic framework that highlights the structural...

Fiscal Policy Sustainability in Oil-Producing Countries

Fiscal Policy Sustainability in Oil-Producing Countries »

Source: Fiscal Policy Sustainability in Oil-Producing Countries

Volume/Issue: 1994/137

Series: IMF Working Papers

Author(s): Sheila Bassett , Claire Liuksila , and Alejandro García

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1994

ISBN: 9781451855852

Keywords: oil reserves, fiscal stance, oil revenues, government revenue

Assessing the sustainability of a given fiscal policy is especially important for countries that depend on income from exhaustible resources. Political and growth pressures may push governments to raise expenditure...

Inflation and the Black Market Exchange Rate in a Repressed Market

Inflation and the Black Market Exchange Rate in a Repressed Market »

Source: Inflation and the Black Market Exchange Rate in a Repressed Market : A Model of Venezuela

Volume/Issue: 2016/159

Series: IMF Working Papers

Author(s): Valerie Cerra

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 August 2016

ISBN: 9781475523201

Keywords: inflation; black market; exchange rate; Venezuela; foreign exchange rationing; scarcity; cash in advance constraint; oil revenue; fiscal dominance

This paper presents a stylized general equilibrium model of the Venezuelan economy. The model explains how the recent sharp fall in oil revenue combines with foreign exchange rationing to produce a steep rise in in...

Fiscal Policy and Business Cycles in an Oil-Producing Economy

Fiscal Policy and Business Cycles in an Oil-Producing Economy »

Source: Fiscal Policy and Business Cycles in an Oil-Producing Economy : The Case of Venezuela

Volume/Issue: 2005/237

Series: IMF Working Papers

Author(s): Alfredo Baldini

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2005

ISBN: 9781451862560

Keywords: Macroeconomic Volatility, fiscal outcomes, fiscal stance, expenditures, expenditure, Fiscal Policies and Behavior of Economic Agents: General, Nonrenewable Resources and Conservation: Government Policy, Venezuela, Republica Bolivariana De,

This paper analyzes the fiscal policy in Venezuela during 1991-2003, by using a number of statistical approaches to analyze trends and cycles of economic output and fiscal outcomes. The business cycle features a st...

Distribución directa de los ingresos provenientes de recursos naturales

Distribución directa de los ingresos provenientes de recursos naturales »

Source: Distribución directa de los ingresos provenientes de recursos naturales : ¿vale la pena considerarla?

Volume/Issue: 2014/5

Series: Staff Discussion Notes

Author(s): Sanjeev Gupta , Alex Segura-Ubiergo , and Enrique Flores

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 August 2015

Language: Spanish

ISBN: 9781513592626

Keywords: Recursos naturales, Ingreso, Distribución del ingreso, Política fiscal

Algunos académicos han sostenido que la distribución directa a la población de ingresos públicos provenientes de recursos naturales ayudaría a los países ricos en recursos naturales a escapar de la 'maldición de l...

Is Fiscal Policy Procyclical in Developing Oil-Producing Countries?

Is Fiscal Policy Procyclical in Developing Oil-Producing Countries? »

Source: Is Fiscal Policy Procyclical in Developing Oil-Producing Countries?

Volume/Issue: 2011/171

Series: IMF Working Papers

Author(s): Nese Erbil

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2011

ISBN: 9781462314324

Keywords: institutions, govenment expenditure, expenditure, capital expenditure, fiscal policies, government expenditure, Fiscal Policies and Behavior of Economic Agents: General,

This paper examines the cyclicality of fiscal behavior in 28 developing oil-producing countries (OPCs) during 1990-2009. After testing five fiscal measures - government expenditure, consumption, investment, non-oil...

Resource Windfalls, Macroeconomic Stability and Growth

Resource Windfalls, Macroeconomic Stability and Growth »

Source: Resource Windfalls, Macroeconomic Stability and Growth : The Role of Political Institutions

Volume/Issue: 2011/142

Series: IMF Working Papers

Author(s): Kazim Kazimov , Kirk Hamilton , and Rabah Arezki

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2011

ISBN: 9781455266432

Keywords: Commodity, macroeconomic stability, government spending, standard deviation, economic performance, Fiscal Policies and Behavior of Economic Agents: General, Multiple or Simultaneous Equation Models: Models with Panel Data,

We use a new dataset on non-resource GDP to examine the performance of commodity-exporting countries in terms of macroeconomic stability and economic growth in a panel of up to 129 countries during the period 1970-...

The Dynamic Effects of Commodity Prices on Fiscal Performance in Latin America

The Dynamic Effects of Commodity Prices on Fiscal Performance in Latin America »

Source: The Dynamic Effects of Commodity Prices on Fiscal Performance in Latin America

Volume/Issue: 2010/192

Series: IMF Working Papers

Author(s): Leandro Medina

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2010

ISBN: 9781455202263

Keywords: procyclicality, fiscal positions, exporting countries, price fluctuations, National Government Expenditures and Related Policies: General,

The recent boom and bust in commodity prices has raised concerns about the impact of volatile commodity prices on Latin American countries' fiscal positions. Using a novel quarterly data set-which includes unique c...

Review of the Experience with Oil Stabilization and Savings Funds in Selected Countries12

Review of the Experience with Oil Stabilization and Savings Funds in Selected Countries12 »

Source: Review of the Experience with Oil Stabilization and Savings Funds in Selected Countries

Volume/Issue: 2000/112

Series: IMF Working Papers

Author(s): Ugo Fasano-Filho

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2000

ISBN: 9781451853599

Keywords: oil stabilization fund, oil savings fund, oil exporting countries, Chile&;amp;#x2019;s copper fund, fiscal indicators, oil prices, central government fiscal, oil revenues, fiscal policy

The main purposes of this paper are to review the operational modalities and experience of oil funds currently in place in Norway, Chile (copper), the State of Alaska, Venezuela, Kuwait, and Oman, and to draw some...