| Description |
1 online resource (32 pages) |
| Series |
IMF working paper ; WP/06/183 |
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IMF working paper ; WP/06/183.
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| Contents |
Contents -- I. INTRODUCTION -- II. GEOGRAPHICAL -- III. OIL SECTOR INSTITUTIONAL FRAMEWORK -- IV. LICENSING -- V. FISCAL RULES -- VI. APPLICATION -- VII. SENSITIVITY ANALYSIS -- VIII. SIMULATING PER CAPITA PIH -- IX. CONCLUSIONS -- APPENDIXES -- REFERENCES |
| Summary |
This paper documents the protracted process of shaping the rules governing oil operations in São Tomé and Príncipe. It analyzes the institutional framework for oil sector development, which applies Milton Friedman's permanent income hypothesis to the management of oil resources. São Tomé and Príncipe is the first country in Africa to adopt this rule. Finally, the paper offers a preliminary quantitative analysis of the impact of oil sector development on government consumption and savings. It shows that the country's oil wealth could be significant, which would enable sustainable government consumption and intergenerational equity through a gradual buildup of the Permanent Fund for Future Generations |
| Bibliography |
Includes bibliographical references |
| Notes |
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
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Print version record |
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digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL |
| Subject |
Income -- Sao Tome and Principe
|
|
Consumption (Economics) -- Sao Tome and Principe
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Consumption (Economics)
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Income
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Sao Tome and Principe
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| Form |
Electronic book
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| ISBN |
128253128X |
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9781282531284 |
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9781451989021 |
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1451989024 |
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