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The Macroeconomic Effects Of Natural Resource Extraction

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The Macroeconomic Effects Of Natural Resource Extraction

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Author : Mr.Suman S Basu
language : en
Publisher: International Monetary Fund
Release Date : 2013-05-31

The Macroeconomic Effects Of Natural Resource Extraction written by Mr.Suman S Basu 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 2013-05-31 with Business & Economics categories.

To investigate the effects on Papua New Guinea’s economy of substantial liquified natural gas revenues arriving in 2015, we employ a model to examine the macroeconomic effects of a scalingup of natural resource windfall revenues and the implications for a variety of policy responses. The model is a multi-sector dynamic stochastic general equilibrium (DSGE) model, and features components that allow for a detailed study of the effects of both fiscal and monetary policy in response to a positive shock to the mineral resource value of a country. The model contains tradable, non-tradable, and mining sectors, as well as an independent central bank and fiscal authority. We calibrate the model to the current economy of Papua New Guinea and run a suite of policy simulations. We find that macroeconomic effects from a resource boom typically associated with Dutch Disease effects such as a real appreciation and a fall in tradable sector production stem largely from the non-tradable component of government spending. The central bank can offset the real appreciation, but not without crowding out the private sector. A sovereign wealth fund (SWF), combined with a smooth capital spending path, entails the best means of dealing with macroeconomic volatility and maintaining a stable fiscal regime.

Natural Resources And The Macroeconomy

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Author : Centre for Economic Policy Research (Great Britain)
language : en
Publisher: Cambridge, Mass. : MIT Press
Release Date : 1986

Natural Resources And The Macroeconomy written by Centre for Economic Policy Research (Great Britain) and has been published by Cambridge, Mass. : MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with Business & Economics categories.

These contributions bring both theoretical models and case studies to bear on the consequences of natural resource discoveries in developed and developing countries. Whether it is natural gas in the Netherlands, oil in the UK, Norway, or Mexico, or minerals in Australia, these discoveries have been accused of causing severe structural problems, which have been given the name "Dutch Disease." Although a sizeable literature dealing with various aspects of the Dutch Disease has now developed, this is the first attempt to confront theory with evidence. Natural Resources and the Macroeconomycontains contributions by such scholars as Alan Gelb, Ricardo Martin, Kadir R. Yurukoglu, and Shahid A. Chaudhry (all at the World Bank); Jeroen J. M. Kremers (Oxford University); Julie Aklaksen and Olav Bjerkholt (Central Bureau of Statistics, Oslo); Lance Taylor (MIT); William Branson (Princeton); Partha Dasgupta (University of Cambridge); and Ronald Jones (University of Rochester). The editors, J. Peter Neary (University College, Dublin) and Sweder Van Wijnbergen (World Bank) have written the opening chapter, Natural Resources and the Macroeconomy: A Theoretical Framework. Other topics include: Adjustment to Windfall Gains: A Comparative Analysis of Oil Exporting Countries; Government and the Dutch Disease in the Netherlands; Policy Analysis of Shadow Pricing, Foreign Borrowing, and Resource Extraction in Egypt; Certainty Equivalent Procedures in the Macroeconomic Planning of an Oil Economy: The Case of Norway; A Macro Model of an Oil Exporter: Nigeria; Commodity Export Prices and the Real Exchange Rate in Columbia: The Money-Inflation Link; Booming Sectors and Structural Change in Australia and Britain; Indonesia's Other Dutch Disease: Economic Effects of the Petroleum Boom. The book concludes with a roundtable discussion which illustrates the divergent views among economists of the consequences of natural resource booms and the appropriate policies which should be adopted toward them. The book is based on a conference held in June 1985 by the Centre for Economic Policy Research in London.

The Impact Of Natural Resource Discoveries In Latin America And The Caribbean

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Author : Mr.Frederik G Toscani
language : en
Publisher: International Monetary Fund
Release Date : 2017-02-10

The Impact Of Natural Resource Discoveries In Latin America And The Caribbean written by Mr.Frederik G Toscani 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 2017-02-10 with Nature categories.

This paper studies the impact of natural resource extraction in Latin America and the Caribbean (LAC) from a number of angles. First, we exploit a novel dataset on the universe of giant oil and gas discoveries in the region to trace out the cyclical response of macroeconomic variables to discoveries over the short- and medium-run. Second, we use non-stationary panel data techniques to look at the long-run (trend) relationship between GDP per capita and the value of oil and gas production—our results imply that the recent fall in prices could depress GDP per capita by several percentage points. Last, we use Bolivia, which discovered huge gas reserves in the late 1990s, as a case study to apply the cross-country results and to study the impact of discoveries at the subnational level.

Investigation Into The Macroeconomic Effects Of Restrictive Natural Resource

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Author : Robert E. Kleckner
language : en
Publisher:
Release Date :

Investigation Into The Macroeconomic Effects Of Restrictive Natural Resource written by Robert E. Kleckner and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on with Economics categories.

Issues In Extractive Resource Taxation

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Author : Mr.James L. Smith
language : en
Publisher: International Monetary Fund
Release Date : 2012-12-06

Issues In Extractive Resource Taxation written by Mr.James L. Smith 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 2012-12-06 with Business & Economics categories.

This paper provides a conceptual overview of economists’ attempts to learn about the effects of taxes on extractive resources. The emphasis is on research methods and techniques, with no attempt to provide a comprehensive tabulation of previous empirical results or policy conclusions regarding preferred tax instruments or systems. We argue, in fact, that the nature of such conclusions largely depends on the researcher’s choice of modeling framework. Many alternative frameworks and approaches have been developed in the literature. Our goal is to describe the differences among them and to note their strengths and limitations.

The Macroeconomic Effects Of Natural Resource Extraction

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Author : Mr.Suman S Basu
language : en
Publisher: International Monetary Fund
Release Date : 2013-05-31

Boom Bust Or Prosperity Managing Sub Saharan Africa S Natural Resource Wealth

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Author : Charlotte J. Lundgren
language : en
Publisher: International Monetary Fund
Release Date : 2013-08-27

Boom Bust Or Prosperity Managing Sub Saharan Africa S Natural Resource Wealth written by Charlotte J. Lundgren 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 2013-08-27 with Nature categories.

Sizeable natural resource endowments and potentially large financial inflows from their extraction provide an unparalleled opportunity for economic growth and development in a growing number of sub-Saharan African countries. Empirical evidence suggests, however, that translating this resource wealth into stronger economic performance and a higher standard of living has proven challenging. Much has been written about the resource curse. This publication focuses on solutions to the challenges and outlines the main policy considerations and options in managing natural resource wealth, drawing on experience within and outside sub-Saharan Africa and referring closely to the latest analysis and policy advice in this area by the IMF, the World Bank, and leading academic research. A key feature of each chapter is a recommended reading list for those who wish additional, more in-depth material on these issues to further inform policymakers and other stakeholders on the theoretical and analytical underpinnings of the policy advice.

Long Term Control Of Exhaustible Resources

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Author : P. Lasserre
language : en
Publisher: Taylor & Francis
Release Date : 2013-09-27

Long Term Control Of Exhaustible Resources written by P. Lasserre and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-09-27 with Business & Economics categories.

This title is concerned with the issue of long-term depletion of non-renewable natural resources.

Natural Resource And Environmental Economics

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Author : Roger Perman
language : en
Publisher: Pearson Higher Ed
Release Date : 2013-02-07

Natural Resource And Environmental Economics written by Roger Perman and has been published by Pearson Higher Ed this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-02-07 with Business & Economics categories.

Now in its 4th Edition, this book is a comprehensive and contemporary analysis of the major areas of natural resource and environmental economics. All chapters have been updated in light of new developments and changes in the subject, and provide a balance of theory, applications and examples to give a rigorous grounding in the economic analysis of the resource and environmental issues that are increasingly prominent policy concerns. This text has been written primarily for the specialist market of second and third year undergraduate and postgraduate students of economics. The full text downloaded to your computer With eBooks you can: search for key concepts, words and phrases make highlights and notes as you study share your notes with friends eBooks are downloaded to your computer and accessible either offline through the Bookshelf (available as a free download), available online and also via the iPad and Android apps. Upon purchase, you'll gain instant access to this eBook. Time limit The eBooks products do not have an expiry date. You will continue to access your digital ebook products whilst you have your Bookshelf installed.

Economic Consequences Of Large Extraction Declines Lessons For The Green Transition

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Author : Rudolfs Bems
language : en
Publisher: International Monetary Fund
Release Date : 2023-05-08

Economic Consequences Of Large Extraction Declines Lessons For The Green Transition written by Rudolfs Bems 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 2023-05-08 with categories.

Economic Consequences of Large Extraction Declines: Lessons for the Green Transition

The Macroeconomic Effects Of Natural Resource Extraction

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