Fiscal Vulnerability and Sustainability in Oil-Producing Sub-Saharan African Countries

Author/Editor:

Zaijin Zhan ; Robert C York

Publication Date:

August 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:

Over many years rises and fall of world oil prices have been repeatedly reflected in the boom-bust cycles in oil-exporting countries the world over. The recent spectacular rise and equally spectacular fall in prices provides an opportunity to inquire whether anything is different this time. In this paper we limit the analysis to the experience, outlook, and longterm fiscal policy considerations for eight of the world's oil-producing countries in sub- Saharan Africa. Because we are interested in gauging their fiscal vulnerability and sustainability from the angle of managing exhaustible oil wealth, we focus on the non-oil primary balance as the relevant indicator of how initial conditions and resource endowments can influence long-term considerations in several different models of fiscal rules.

Series:

Working Paper No. 09/174

Subject:

English

Publication Date:

August 1, 2009

ISBN/ISSN:

9781451873214/1018-5941

Stock No:

WPIEA2009174

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

40

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