Download or read book The Role of Fiscal Institutions in Managing the Oil Revenue Boom written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2007-05-03 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the fiscal responses of oil-producing countries (OPCs) to the oil boom through 2005 and the role of special fiscal institutions (SFIs)—oil funds, fiscal rules and fiscal responsibility legislation (FRL), and budgetary oil prices—in fiscal management in OPCs, and draws some general lessons.
Download or read book Managing the Oil Revenue Boom written by Mr.Mauricio Villafuerte and published by International Monetary Fund. This book was released on 2008-04-30 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Oil-producing countries have benefited from rising oil prices in recent years. The increase in oil exports and oil revenues has had major implications for these countries. These developments have revealed how governments manage their fiscal policies in light of changing oil-market conditions and the role of special fiscal institutions (SFIs). In this Occasional Paper, IMF experts examine the fiscal response of oil-producing countries to the recent oil boom and the role of SFIs in fiscal management, they review the experiences of selected countries, and they draw general lessons. In doing so, they link findings on best practice in the design of SFIs with broader fiscal management advice.
Download or read book The Role of Fiscal Institutions in Managing the Oil Revenue Boom written by Internationaler Währungsfonds and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the fiscal responses of oil-producing countries (OPCs) to the oil boom through 2005 and the role of special fiscal institutions (SFIs)-oil funds, fiscal rules and fiscal responsibility legislation (FRL), and budgetary oil prices-in fiscal management in OPCs, and draws some general lessons.
Download or read book Fiscal Regimes for Extractive Industries Design and Implementation written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2012-08-16 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Better designed and implemented fiscal regimes for oil, gas, and mining can make a substantial contribution to the revenue needs of many developing countries while ensuring an attractive return for investors, according to a new policy paper from the International Monetary Fund. Revenues from extractive industries (EIs) have major macroeconomic implications. The EIs account for over half of government revenues in many petroleum-rich countries, and for over 20 percent in mining countries. About one-third of IMF member countries find (or could find) resource revenues “macro-critical” – especially with large numbers of recent new discoveries and planned oil, gas, and mining developments. IMF policy advice and technical assistance in the field has massively expanded in recent years – driven by demand from member countries and supported by increased donor finance. The paper sets out the analytical framework underpinning, and key elements of, the country-specific advice given. Also available in Arabic: ????? ??????? ?????? ???????? ???????????: ??????? ???????? Also available in French: Régimes fiscaux des industries extractives: conception et application Also available in Spanish: Regímenes fiscales de las industrias extractivas: Diseño y aplicación
Download or read book Liberia written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2012-12-21 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2012 Article IV Consultation with Liberia discusses the economic developments and policies of the country. Liberia recorded strong macroeconomic performance under the three-year Extended Credit Facility (ECF) Arrangement, but poverty continued to be pervasive. The short- to medium-term outlook has remained favorable, although subject to considerable risks. Following resumption of iron ore exports in 2011, real GDP growth is estimated at 9 percent in 2012, supported by strong growth in the mining sector and expansionary fiscal policy for infrastructure investment. IMF staff supports the authorities’ request for a successor arrangement under the ECF.
Download or read book Fiscal Monitor October 2015 written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2015-10-07 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: This issue of the Fiscal Monitor examines the conduct of fiscal policy under the uncertainty caused by dependence on natural resource revenues. It draws on extensive past research on the behavior of commodity prices and their implications for macroeconomic outcomes, as well as on extensive IMF technical assistance to resource-rich economies seeking to improve their management of natural resource wealth.
Download or read book Revised Guide on Resource Revenue Transparency written by International Monetary Fund and published by International Monetary Fund. This book was released on 2007-04-20 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Guide, which is a companion document to the IMF’s Code of Good Practices on Fiscal Transparency (2007), has been revised to reflect the new Code and to provide more recent examples of good practice by individual countries The Guide applies the good practices of the Code to the unique set of transparency issues faced by countries that derive a significant share of revenues from natural resources. It addresses issues arising both from the sheer size and volatility of such resources and the technical complexity of the transaction flows. The Guide supplements the Manual on Fiscal Transparency (2007).
Download or read book A New Fiscal Framework for Resource Rich Countries written by Mr. Luc Eyraud and published by International Monetary Fund. This book was released on 2023-11-03 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper revisits the debate on the design of fiscal rules in resource-rich countries. Its main objective is to assess alternative systems of rules against their policy objectives, while taking into account country characteristics. One of the contributions of the paper is to propose fiscal frameworks that are centered around the principle of insurance against shocks and less reliant on estimating precisely resource wealth, which tends to be highly volatile.
Download or read book Oil Gas and Mining written by Peter D. Cameron and published by World Bank Publications. This book was released on 2017-06-01 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: Oil, Gas, and Mining: A Sourcebook for Understanding the Extractive Industries provides developing countries with a technical understanding and practical options around oil, gas, and mining sector development issues. A central premise of the Sourcebook is that good technical knowledge can better inform political, economic, and social choices with respect to sector development and the related risks and opportunities. The guidance provided by the Sourcebook assumes a broad set of overarching principles, all centered on good governance and directed at achieving positive and broadly based sustainable development outcomes. This Sourcebook is rich in presenting options to challenges, on the understanding that contexts and needs vary, and that there is much to be gained from appreciating the lessons learned from a broad set of experiences.
Download or read book Lao People s Democratic Republic written by International Monetary Fund and published by International Monetary Fund. This book was released on 2007-11-07 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper and Statistical Appendix for the Lao People’s Democratic Republic (PDR) review the macroeconomic impact of the resource sector. Lao PDR’s economic performance is becoming increasingly dependent on the activities of the large mining and hydropower projects. The economic value of the resource projects is significant, even if only proven mineral reserves and hydropower plants are considered. The overall macroeconomic impact of the resource sector over the medium term will depend on the quality and timeliness of the policies adopted to sustain the growth of the non-resource sector.
Download or read book Sovereign Wealth Funds written by Edwin M. Truman and published by Peterson Institute. This book was released on 2010 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the role of sovereign wealth funds (SWFs) in the global economy and financial system. Sovereign wealth funds are not a new phenomenon in international finance. Governments of a few countries have used similar entities to manage their international financial assets for several decades. Moreover, countries have always held international reserves, and government-owned entities have made cross-border investments for many years. Sovereign wealth funds or their equivalent pose profound issues for the countries that own them with respect to macroeconomic policy and the potential for corruption. They also raise issues for countries that receive SWF investments as well as for the international financial system as a whole because government ownership introduces potential political and economic power issues into the management of these cross-border assets. This study traces the origins of SWFs. It describes the issues raised by these large governmental holdings of cross-border assets for the countries that own them, for the host countries, and for the international financial system. The study lays out what is known about the 50-plus SWFs of various countries. Some countries have more than one such entity, and a sample of government-managed pension funds is included in this analysis because they raise most of the same basic policy issues. Using publicly available information that is provided on a systematic basis, the author has previously developed a "scoreboard" for these funds involving a number of elements grouped in four categories: structure, governance, transparency and accountability, and behavioral rules. The 2008 edition contributed to the development of a set of generally accepted principles and practices, the Santiago Principles, for SWFs by the International Working Group operating under the auspices of the International Monetary Fund. This publication presents an updated scoreboard for an expanded list of funds, evaluates the Santiago Principles, and examines current compliance with those principles. The study also examines the policies of recipient countries and the role of the Organization for Economic Cooperation and Development (OECD) investment codes. Finally, the study discusses the evolving role of SWFs in the context of the global economic and financial crisis and its aftermath and will make recommendations for the policies of countries both managing such funds and those that expect to receive investments from them in the future.
Download or read book IMF Staff Papers Volume 57 No 1 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2010-03-26 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Do highly indebted countries suffer from a debt overhang? Can debt relief foster their growth rates? To answer these important questions, this article looks at how the debt-growth relation varies with indebtedness levels, as well as with the quality of policies and institutions, in a panel of developing countries. The main findings are that, in countries with good policies and institutions, there is evidence of debt overhang when the net present value of debt rises above 20–25 percent of GDP; however, debt becomes irrelevant above 70–80 percent. In countries with bad policies and institutions, thresholds appear to be lower, but the evidence of debt overhang is weaker and we cannot rule out that debt is always irrelevant. Indeed, in such countries, as well as in countries with high indebtedness levels, investment does not depend on debt levels. The analysis suggests that not all countries are likely to profit from debt relief, and thus that a one-size-fits-all debt relief approach might not be the most appropriate one.
Download or read book The Oxford Handbook of Sovereign Wealth Funds written by Douglas Cumming and published by Oxford University Press. This book was released on 2017 with total page 737 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sovereign Wealth Funds have become increasingly powerful and influential investors. Their increasing role, and unusual character as both political and market actors, raise a number of issues with regard to finance, politics, regulation, and international business. This handbook draws together the growing but fragmented research on SWFs.
Download or read book Handbook of Sustainable Politics and Economics of Natural Resources written by Tsani, Stella and published by Edward Elgar Publishing. This book was released on 2021-12-10 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely Handbook draws together insightful analyses of natural resource management challenges and solutions in the face of sustainable development targets and a changing global climate.
Download or read book Commodity Price Volatility and Inclusive Growth in Low Income Countries written by Mr.Rabah Arezki and published by International Monetary Fund. This book was released on 2012-10-24 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the years following the global financial crisis, many low-income countries experienced rapid recovery and strong economic growth. However, many are now facing enormous difficulties because of rapidly rising food and fuel prices, with the threat of millions of people being pushed into poverty around the globe. The risk of continued food price volatility is a systemic challenge, and a failure in one country has been shown to have a profound impact on entire regions. This volume addresses the challenges of commodity price volatility for low-income countries and explores some macroeconomic policy options for responding to commodity price shocks. The book then looks at inclusive growth policies to address inequality in commodity-exporting countries, particularly natural resource rich countries. Perspectives from the Middle East and North Africa, sub-Saharan Africa, emerging Asia, and Mexico are presented and, finally, the role of the international donor community is examined. This volume is a must read for policymakers everywhere, from those in advanced, donor countries to those in countries with the poorest and most vulnerable populations.
Download or read book Handbook of Oil Politics written by Robert Looney and published by Routledge. This book was released on 2012-01-25 with total page 473 pages. Available in PDF, EPUB and Kindle. Book excerpt: To many, oil markets and their linkages to a whole spectrum of events remain something of a mystery. Unfortunately, most of the easily obtained information on oil is deeply flawed. Whole web-conspiracy sites depict ruthless insiders and reckless dictators manipulating energy markets at will. The 30 essays in this volume, written by the leading experts in the field, attempt to set the record straight. While their assessments may lack the sensationalism of many popular pundits, serious readers will find their insights invaluable in the years to come in providing a framework for understanding many of the events of the day. The five sections: Politics of Oil Supply, Political Responses, Regional Dimensions, Country Case Studies and Key Issues for the Future give a comprehensive overview of the politics of oil world-wide.
Download or read book Fiscal Frameworks for Resource Rich Developing Countries written by Marcos Poplawski-Ribeiro and published by International Monetary Fund. This book was released on 2012-05-16 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience interested in economic policy issues. This Web-only series replaced Staff Position Notes in January 2011.
