A Primeron Fiscal Analysis in Oil-Producing Countries

Author/Editor:

Paulo A Medas ; Daria V Zakharova

Publication Date:

March 1, 2009

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

This paper proposes an integrated approach to fiscal policy analysis in oil producing countries (OPCs) geared towards addressing their unique and complex policy challenges. First, an accurate assessment of the fiscal stance in OPCs can be obscured by large and volatile oil revenue flows. Second, uncertain and volatile oil revenue flows can complicate the management of macroeconomic policies in these countries. Third, given the exhaustibility of oil reserves, OPCs need to address longer-term sustainability and intergenerational equity issues. The use of non-oil fiscal indicators, stress tests, medium-term frameworks, and permanent oil income models can greatly aid in addressing these challenges.

Series:

Working Paper No. 09/56

Subject:

English

Publication Date:

March 1, 2009

ISBN/ISSN:

9781451872033/1018-5941

Stock No:

WPIEA2009056

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

41

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