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Fiscal Sustainability with Non-Renewable Resources

This paper assesses sustainable fiscal behavior in an economy where wealth is derived predominantly from a non-renewable resource. It explores the issue in a simple dynamic framework that highlights the structural weaknesses in the underlying budgetary position, takes into account the rate of deplet...

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Bibliographic Details
Main Author: Chalk, Nigel
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1998
Series:IMF Working Papers
Subjects:
International Trade
Public Finance
Agricultural And Natural Resource Economics
Fiscal Policies And Behavior Of Economic Agents: General
Environmental And Ecological Economics: General
Exports And Imports
Personal Income, Wealth, And Their Distributions
Macroeconomics
Natural Resources
Income
Environment
International Economics
Terms Of Trade
National Accounts
Personal Income
Environmental Management
Existence And Stability Conditions Of Equilibrium
Economic Policy
Fiscal Policy
Nternational Cooperation
Fiscal Stance
Empirical Studies Of Trade
Kuwait
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:This paper assesses sustainable fiscal behavior in an economy where wealth is derived predominantly from a non-renewable resource. It explores the issue in a simple dynamic framework that highlights the structural weaknesses in the underlying budgetary position, takes into account the rate of depletion of a country’s natural resource base, and examines the impact of changes in a country’s terms of trade. An alternative indicator of fiscal sustainability is derived, and the principal factors determining sustainability are identified. The results of the analysis are applied to Venezuela and Kuwait
Physical Description:36 pages
ISBN:9781451844351

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