Description |
1 online resource (46 pages) |
Series |
Occasional Papers |
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Occasional papers
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Contents |
Cover; Contents; Abbreviations and Acronyms; Preface; Executive Summary; I. Introduction; II. The Recent Oil Boom; Fiscal Policy Responses to the Recent Oil Boom Through 2005; Boxes; 1. The Recent Oil Boom and Previous Oil Shocks; Government Effectiveness, Sustainability, and Vulnerability Issues; Figures; 2.1. Cumulative Change in the Non-Oil Primary Deficit Relative to Additional Oil Revenue, 2000-05; 2.2. Expenditure Growth and Sustainability Analysis; 2.3. Oil Price Projections; III. Special Fiscal Institutions and the Management of Oil Revenue-Recent International Experience; Oil Funds |
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Tables3.1. Oil Funds: Gross Financial Assets; Fiscal Rules, Fiscal Guidelines, and Fiscal Responsibility Legislation; Budgetary Oil Price; 2. Botswana and Chile: Experiences with Fiscal Rules; 3.1. Average Budget and Actual Oil Reference Prices for Selected Oil-Producing Countries; IV. Quantitative Assessment of the Impact of Fiscal Institutions on Fiscal Outcomes; Non-Oil Primary Balance; 4.1. Dependent Variable: Non-Oil Primary Balance; Public Spending; 4.2. Dependent Variable: Expenditures; 4.3. Dependent Variable: Ratio of the Change in Expenditure to the Change in Oil Revenue |
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v. A Framework for Strengthening Fiscal Institutions in Oil-Producing CountriesInstitutions, PFM Systems, and Medium-Term Frameworks; 3. Using Multiyear Fiscal Policy and Planning Frameworks; The Role for SFIs Within Broader Institutional Reforms; Appendices; I. Expenditure Patterns in Oil-Producing Countries, 1999-2005; A1.1. Government Expenditures in Selected Oil-Producing Countries; II. Sustainable Fiscal Benchmarks-Key Assumptions and Further Considerations; III. Objectives and Design Features of Fiscal Institutions in the Sample of Oil-Producing Countries |
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A3.1. Features of Fiscal Responsibility Legislation and Fiscal RulesA3.2. Features of Oil Funds; IV. Econometric Analysis of the Impact of Fiscal Institutions on Fiscal Outcomes; References |
Summary |
Oil-producing countries have benefited from rising oil prices in recent years. The increase in oil exports and oil revenues has had major implications for these countries. These developments have revealed how governments manage their fiscal policies in light of changing oil-market conditions and the role of special fiscal institutions (SFIs). In this Occasional Paper, IMF experts examine the fiscal response of oil-producing countries to the recent oil boom and the role of SFIs in fiscal management, they review the experiences of selected countries, and they draw general lessons. In doing so, t |
Notes |
Print version record |
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Print version record |
Subject |
Petroleum industry and trade -- Economic aspects
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Fiscal policy.
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Fiscal policy
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Petroleum industry and trade -- Economic aspects
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Form |
Electronic book
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Author |
Ossowski, Rolando
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Thomas, Theo
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Medas, Paulo A
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ISBN |
9781452779591 |
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1452779597 |
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1462338070 |
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9781462338078 |
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