Fiscal Vulnerability And Sustainability In Oil Producing Sub Saharan African Countries
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Fiscal Vulnerability And Sustainability In Oil Producing Sub Saharan African Countries
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Author : Robert York
language : en
Publisher:
Release Date : 2014
Fiscal Vulnerability And Sustainability In Oil Producing Sub Saharan African Countries written by Robert York and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
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.
External Sustainability Of Oil Producing Sub Saharan African Countries
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Author : Ms.Misa Takebe
language : en
Publisher: International Monetary Fund
Release Date : 2011-08-01
External Sustainability Of Oil Producing Sub Saharan African Countries written by Ms.Misa Takebe and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-08-01 with Business & Economics categories.
In the extensive empirical work carried out across the IMF on oil-producing sub-Saharan African (SSA) countries, the notion of "sustainability" is often directed toward fiscal policies, and, in particular, views on the "optimal" non-oil primary fiscal deficit. The bulk of this work does not, however, address external sustainability, which is a concern especially for those SSA oil producers operating under a fixed exchange rate regime. A couple of recent papers have extended the existing methodologies to assess external sustainability for some oil-producing countries but they do not focus on those in sub-Saharan Africa. In this paper, we bolster this empirical work by providing a range of estimates for the long-run external current external account balance for each of the SSA oil-producing countries, based on three widely used methodologies in the IMF. Our research strategy is to apply these models to the eight countries in the subregion - Angola, Cameroon, Chad, Côte d'Ivoire, Equatorial Guinea, Gabon, Nigeria, and the Republic of Congo - using similar simplifying assumptions so that we are using the same lens to view how they do and do not differ.
External Sustainability Of Oil Producing Sub Saharan African Countries
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Author : Misa Takebe
language : en
Publisher:
Release Date : 2014
External Sustainability Of Oil Producing Sub Saharan African Countries written by Misa Takebe and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
In the extensive empirical work carried out across the IMF on oil-producing sub-Saharan African (SSA) countries, the notion of "sustainability" is often directed toward fiscal policies, and, in particular, views on the "optimal" non-oil primary fiscal deficit. The bulk of this work does not, however, address external sustainability, which is a concern especially for those SSA oil producers operating under a fixed exchange rate regime. A couple of recent papers have extended the existing methodologies to assess external sustainability for some oil-producing countries but they do not focus on those in sub-Saharan Africa. In this paper, we bolster this empirical work by providing a range of estimates for the long-run external current external account balance for each of the SSA oil-producing countries, based on three widely used methodologies in the IMF. Our research strategy is to apply these models to the eight countries in the subregion - Angola, Cameroon, Chad, Côte d'Ivoire, Equatorial Guinea, Gabon, Nigeria, and the Republic of Congo - using similar simplifying assumptions so that we are using the same lens to view how they do and do not differ.
Gabon
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Author :
language : en
Publisher: International Monetary Fund
Release Date : 2016-03-18
Gabon written by and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-03-18 with Technology & Engineering categories.
This paper discusses impact of the falling oil prices on the Gabon’s economy. With oil accounting for roughly 40 percent of its GDP, 45 percent of its government revenues, and nearly 85 percent of its exports in 2014, Gabon’s economic growth prospects depend on how it copes with the recent oil-price slumps. Economic performance during major oil-price declines clearly illustrates the vulnerability of Gabon and other oil-dependent countries in sub-Saharan Africa. The recent oil-price slump is bound to generate a major deceleration of Gabon’s non-oil economy. Given the strength of the government transmission channel, the authorities should support economic activity (through productive spending) while ensuring fiscal sustainability.
Old Curses New Approaches Fiscal Benchmarks For Oil Producing Countries In Sub Saharan Africa
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Author : Jan-Peter Olters
language : en
Publisher: International Monetary Fund
Release Date : 2007-05
Old Curses New Approaches Fiscal Benchmarks For Oil Producing Countries In Sub Saharan Africa written by Jan-Peter Olters and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-05 with Business & Economics categories.
Buoyant oil prices have allowed oil-producing countries in sub-Saharan Africa (SSA OPCs) to increase oil exports and fiscal revenues, providing them with resources necessary to address the pressing social needs. To preclude another boom-bust cycle, this paper advocates the definition of a fiscal benchmark anchored in sustainability grounds, following Leigh- Olters (2006). The difference between current primary deficits and those that could be maintained after oil reserves are exhausted represent an indication of the degree to which fiscal positions will have to be adjusted-either gradually, while the overall balances remain in surplus, or abruptly, once oil revenues begin to dwindle.
Public Budgeting In African Nations
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Author : Peter Fuseini Haruna
language : en
Publisher: Routledge
Release Date : 2016-04-14
Public Budgeting In African Nations written by Peter Fuseini Haruna and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-14 with Political Science categories.
Public Budgeting in African Nations aims to provide usable budgeting and fiscal policy management information to development practitioners interested in improving the performance of governments in the context of good governance. It shares regional and cross-cultural experiences with international audiences and gives reflective attention to comparative budgeting and fiscal policy management. With a promising economic and fiscal forecast, such information is timely for international development practitioners and for scholars and researchers interested in advancing development management. This book adopts an interdisciplinary/pragmatic approach to analyze and present research findings on public budgeting as a sustainable development tool. The central argument is that development practice will benefit from a bottom-up, decentralized approach to budgeting and fiscal policy management, involving national, sub-national, and civil society institutions. From this perspective, a balanced budget should draw from and reflect values and priorities across the full spectrum of social and political life.
The International Handbook Of Public Financial Management
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Author : Richard Allen
language : en
Publisher: Springer
Release Date : 2013-08-15
The International Handbook Of Public Financial Management written by Richard Allen and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-08-15 with Business & Economics categories.
The Handbook is a virtual encyclopedia of public financial management, written by topmost experts, many with a background in the IMF and World Bank. It provides the first comprehensive guide to the subject that has been published in more than ten years. The book is aimed at a broad audience of academics/students, government officials, development agencies and practitioners. It covers both bread-and-butter topics such as the macroeconomic and legal framework for budgeting, budget preparation and execution, procurement, accounting, reporting, audit and oversight, as well as specialist subjects such as government payroll systems, local government finance, fiscal transparency, the management of fiscal risks, sovereign wealth funds, the management of state-owned enterprises, and political economy aspects of budgeting. The book sets out numerous examples and case studies describing good practice in public financial management, and is highly relevant for use in both advanced and developing countries.
Fiscal Management In Resource Rich Countries
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Author : Rolando Ossowski
language : en
Publisher: World Bank Publications
Release Date : 2016-06-28
Fiscal Management In Resource Rich Countries written by Rolando Ossowski and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-06-28 with Business & Economics categories.
The extractive industries (EI) sector occupies an outsize space in the economies of many developing countries. Policy makers, economists, and public finance professionals working in such countries are frequently confronted with issues that require an in-depth understanding of the sector, its economics, governance, and policy challenges, as well as the implications of natural resource wealth for fiscal and public financial management. The objective of the two-volume Essentials for Economists, Public Finance Professionals, and Policy Makers, published in the World Bank Studies series, is to provide a concise overview of the EI-related topics these professionals are likely to encounter. This second volume, Fiscal Management in Resource-Rich Countries, addresses critical fiscal challenges typically associated with large revenue flows from the EI sector. The volume discusses fiscal policy across four related dimensions: short-run stabilization, the management of fiscal risks and vulnerabilities, the promotion of long-term sustainability, and the importance of good public financial management and public investment management systems. The volume subsequently examines several institutional mechanisms used to aid fiscal management, including medium-term expenditure frameworks, resource funds, fiscal rules, and fiscal councils. The volume also discusses the earmarking of revenue, resource revenue projections as applied to the government budget, and fiscal transparency, and outlines several fiscal indicators used to assess the fiscal stance of resource-rich countries. The authors hope that economists, public finance professionals, and policy makers working in resource-rich countries—including decision makers in ministries of finance, international organizations, and other relevant entities—will find the volume useful to their understanding and analysis of fiscal management in resource-rich countries.
Contemporary Issues In International Trade
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Author : Rajib Bhattacharyya
language : en
Publisher: Emerald Group Publishing
Release Date : 2024-05-28
Contemporary Issues In International Trade written by Rajib Bhattacharyya and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-05-28 with Business & Economics categories.
Reaching beyond the usual terrain of economic engagement, this edited collection confronts critical issues to demand urgent analytical attention and a harnessing of the economic potential at stake.
Energy Subsidy Reform In Sub Saharan Africa
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Author : Mr.Trevor Serge Coleridge Alleyne
language : en
Publisher: International Monetary Fund
Release Date : 2013-08-12
Energy Subsidy Reform In Sub Saharan Africa written by Mr.Trevor Serge Coleridge Alleyne and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-08-12 with Business & Economics categories.
The reform of energy subsidies is an important but challenging issue for sub-Saharan African (SSA) countries. There is a relatively large theoretical and empirical literature on this issue. While this paper relies on that literature, too, it tailors its discussion to SSA countries to respond to the following questions: Why it is important to reduce energy subsidies? What are the difficulties involved in energy subsidy reform? How best can a subsidy reform be implemented? This paper uses various sources of information on SSA countries: quantitative assessments, surveys, and individual (but standardized) case studies.