The Impact Of Oil Windfalls
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The Impact Of Oil Windfalls
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Author : Alan H. Gelb
language : en
Publisher:
Release Date : 1985
The Impact Of Oil Windfalls written by Alan H. Gelb and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985 with Oil industries categories.
Oil Windfalls
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Author : Alan H. Gelb
language : en
Publisher: Oxford University Press
Release Date : 1988
Oil Windfalls written by Alan H. Gelb and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988 with Business & Economics categories.
This book assesses the full impact of oil windfalls on six developing producer countries - Algeria, Ecuador, Indonesia, Nigeria, Trinidad and Tobago, and Venezuela. This is the first time that the issue has been systematically analysed and related to economics policies and underlying macroeconomic characteristics. The book adopts a broad approach, blending institutional and political aspects with quantitative analysis which includes the results of sophisticated model simulations. It presents new information on how oil discoveries have been used by producer governments, and analyses of the consequences. Finally it concludes that much of the potential benefit to producers has been dissipated, and explains why producers may actually end up worse off despite revenue gains.
Oil Windfalls In Ghana
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Author : Jan Gottschalk
language : en
Publisher: International Monetary Fund
Release Date : 2010-05-01
Oil Windfalls In Ghana written by Jan Gottschalk 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 2010-05-01 with Business & Economics categories.
We use a calibrated multi-sector DSGE model to analyze the likely impact of oil windfalls on the Ghanaian economy, under alternative fiscal and monetary policy responses. We distinguish between the short-run impact, associated with demand-related pressures, and the medium run impact on competitiveness and growth. The impact on inflation and the real exchange rate could be moderate, especially if the fiscal authorities smooth oil-related spending or increase public spending’s import content. However, a policy mix that results in both a fiscal expansion and the simultaneous accumulation of the foreign currency proceeds from oil as international reserves—to offset the real appreciation—would raise demand pressures and crowd-out the private sector. In the medium term, the negative impact on competitiveness—resulting from ”Dutch Disease” effects—could be small, provided public spending increases the stock of productive public capital. These findings highlight the role of different policy responses, and their interaction, for the macroeconomic impact of oil proceeds.
The Effect Of Oil Windfalls On Political Corruption
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Author : Kathryn Baragwanath Vogel
language : en
Publisher:
Release Date : 2021
The Effect Of Oil Windfalls On Political Corruption written by Kathryn Baragwanath Vogel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with categories.
Oil royalties provide a substantial and volatile inflow of non tax-payer money to municipal coffers, creating dynamic incentives for politicians in office. Resource windfalls change politicians' budget constraints, generate difficulties for voters to distinguish politicians' integrity, and create incentives for corruptible candidates to enter politics, changing the pool of candidates. Using a formal model with moral hazard and adverse selection, I show how resource windfalls generate the endogenous entry of worst candidates into politics, which generates cycles in corruption and reelection patterns. In Brazil, where offshore royalties are determined and allocated exogenously, oil inflows create strong opportunities for corruption. I find strong effects of oil windfalls on corruption. On average, a one standard deviation increase in oil royalties produces a 29% increase in corruption. The effects of windfalls on corruption are larger after elections during booms and lower during busts. Furthermore, oil royalties lead to a reelection cycle: when the price of oil is expected to be higher, incumbents are reelected more often than when the price of oil is expected to fall, independent of economic and individual level variables. I show that endogenous entry of worse candidates during booms is likely the cause of these corruption and reelection cycles, as predicted by the theory. Taken together, these results point to a strong effect of oil royalties on local level political equilibria.
Are Oil Windfalls A Blessing Or A Curse
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Author : Alan H. Gelb
language : en
Publisher:
Release Date : 1985
Are Oil Windfalls A Blessing Or A Curse written by Alan H. Gelb and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985 with Indonesia categories.
Oil Windfalls Fiscal Policy And Money Market Disequilibrium
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Author : Salman Huseynov
language : en
Publisher:
Release Date : 2013
Oil Windfalls Fiscal Policy And Money Market Disequilibrium written by Salman Huseynov and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
In this paper, we base our policy analyses and simulations on three different specifications of a DSGE model developed for a CIS oil rich country and check the impact of the oil windfalls. The first proposed specification is a classical one with a Taylor rule and the second one is a recently new specification with a money growth rule. Beside two familiar specifications, we propose a new specification which assumes a temporary money market disequilibrium in the short run. This disequilibrium is a result of the fiscal misbalance and (non-primary) pro-deficit policy pursued by the fiscal authority. We show that all three specifications allow the fiscal authority to act as the main actor in propagating and amplifying the effects of the oil price shocks to the rest of the economy. When an oil shock hits the economy, its first round effect operates through oil fund transfers to the budget. The second round effects result from an increase in government consumption and government investment expenditures, which augments public capital affecting total factor productivity (TFP) and production, as well as the aggregate demand. We also find that despite significant differences, all three specifications demonstrate similar response dynamics.
Do Oil Windfalls Improve Living Standards
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Author : Francesco Caselli
language : en
Publisher:
Release Date : 2009
Do Oil Windfalls Improve Living Standards written by Francesco Caselli and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Cities and towns categories.
We use variation in oil output among Brazilian municipalities to investigate the effects of resource windfalls. We find muted effects of oil through market channels: offshore oil has no effect on municipal non-oil GDP or its composition, while onshore oil has only modest effects on non-oil GDP composition. However, oil abundance causes municipal revenues and reported spending on a range of budgetary items to increase, mainly as a result of royalties paid by Petrobras. Nevertheless, survey-based measures of social transfers, public good provision, infrastructure, and household income increase less (if at all) than one might expect given the increase in reported spending. To explain why oil windfalls contribute little to local living standards, we use data from the Brazilian media and federal police to document that very large oil output increases alleged instances of illegal activities associated with mayors.
The Effects Of The Crude Oil Windfall Profits Tax On Recoverable Crude Oil Resources And Production Therefrom
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Author : Resource Analysis & Management Group (Oklahoma City, Okla.)
language : en
Publisher:
Release Date : 1980
The Effects Of The Crude Oil Windfall Profits Tax On Recoverable Crude Oil Resources And Production Therefrom written by Resource Analysis & Management Group (Oklahoma City, Okla.) and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1980 with Excess profits tax categories.
Oil Windfalls Might Not Be The Problem In Oil Producing Countries
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Author : Eric W. Djimeu
language : en
Publisher:
Release Date : 2018
Oil Windfalls Might Not Be The Problem In Oil Producing Countries written by Eric W. Djimeu and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
Oil Windfalls In A Small Parliamentary Democracy
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Author : Richard M. Auty
language : en
Publisher:
Release Date : 1985
Oil Windfalls In A Small Parliamentary Democracy written by Richard M. Auty and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985 with Oil industries categories.