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Author Medas, Paulo A
Title Primer on Fiscal Analysis in Oil-Producing Countries
Imprint Washington : International Monetary Fund, 2009
book jacket
Descript 1 online resource (41 pages)
text txt rdacontent
computer c rdamedia
online resource cr rdacarrier
Series IMF Working Papers
IMF Working Papers
Note Intro -- Contents -- I. Introduction -- II. Assessing The Macro-Fiscal Stance -- A. A Multiple Indicator Approach -- B. Using the Non-Oil Balance Concept in Practice -- III. Managing Revenue Volatility and Ensuring Macro-Stability -- A. Macro-Fiscal Consequences of Oil Revenue Volatility -- B. Managing Oil Revenue Volatility -- IV. Long-Term Sustainability and Uncertainty -- A. The Permanent Oil Income Model -- B. Addressing Uncertainty -- V. Conclusion -- Table -- 1. Nigeria: Federal Government Operations -- Figures -- 1. Primary/Non-Oil Primary Balance and Oil Price -- 2. Oil Producing Countries: Selected Fiscal Indicators -- 3. Oil Producing Countries: Oil Vs. Non-Oil Revenue -- 4. Inflation and Asset Prices in OPCs -- 5. Nigeria, Saudi Arabia, and the UAE: Selected Economic Indicators -- 6. Coverage of Fiscal Statistics in Oil and Non-Oil Producing Countries of the Middle East and Central Asia -- 7. An Example of a Permanent Oil Income Model versus Bird-in-Hand -- Boxes -- 1. Assessing the Direction of Fiscal Policy by Changes in the Non-Oil Primary Balance -- 2. Non-oil fiscal indicators in Nigeria and Yemen -- 3. Impact of Past Oil Booms and Busts on the Economies of Nigeria, Saudi Arabia, and the UAE -- 4. Petroleum Product Subsidies in OPC -- 5. Application of POIM to OPC -- 6. The Role of MTFFs in Managing Oil Revenue Uncertainty -- Appendices -- I: Approaches to Defining the Non-Oil Balance -- II: Special Fiscal Institutions -- References
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
Description based on publisher supplied metadata and other sources
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2020. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries
Link Print version: Medas, Paulo A. Primer on Fiscal Analysis in Oil-Producing Countries Washington : International Monetary Fund,c2009 9781451872033
Subject Petroleum industry and trade -- Economic aspects.;Fiscal policy.;Petroleum reserves -- Economic aspects
Electronic books
Alt Author Zakharova, Daria
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