A New Fiscal Framework for Resource-Rich Countries

Author/Editor:

Luc Eyraud ; William Gbohoui ; Paulo A Medas

Publication Date:

November 3, 2023

Electronic Access:

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Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary:

This paper revisits the debate on the design of fiscal rules in resource-rich countries. Its main objective is to assess alternative systems of rules against their policy objectives, while taking into account country characteristics. One of the contributions of the paper is to propose fiscal frameworks that are centered around the principle of insurance against shocks and less reliant on estimating precisely resource wealth, which tends to be highly volatile.

Series:

Working Paper No. 2023/230

Subject:

Frequency:

regular

English

Publication Date:

November 3, 2023

ISBN/ISSN:

9798400259609/1018-5941

Stock No:

WPIEA2023230

Format:

Paper

Pages:

68

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