Fiscal Sustainability with Non-Renewable Resources

Released on by Mr.Nigel Andrew Chalk
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  • Fiscal Sustainability with Non-Renewable Resources Book Detail

  • Author : Mr.Nigel Andrew Chalk
  • Release Date : 1998-03-01
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 37
  • ISBN 13 : 1451844352
  • File Size : 44,44 MB
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Fiscal Sustainability with Non-Renewable Resources by Mr.Nigel Andrew Chalk PDF Summary

Book Description: 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.

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This paper analyzes recent fiscal policies of nonrenewable resource exporting countries in Latin America and the Caribbean in the context of sharp swings in res