Fiscal vulnerability and sustainability in oil-producing Sub-Saharan African countries / prepared by Robert York and Zaijin Zhan.

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...

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Bibliographic Details
Main Authors: York, Robert C. (Robert Christopher), 1962- (Author), Zhan, Zaijin (Author)
Corporate Author: International Monetary Fund. African Department
Format: eBook
Language:English
Published: [Washington, D.C.] : International Monetary Fund, ©2009.
Series:IMF working paper ; WP/09/174.
Subjects:
Online Access:Click for online access

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100 1 |a York, Robert C.  |q (Robert Christopher),  |d 1962-  |e author.  |1 https://id.oclc.org/worldcat/entity/E39PCjDTFhcfWkXJgbQDQ6G3pP 
245 1 0 |a Fiscal vulnerability and sustainability in oil-producing Sub-Saharan African countries /  |c prepared by Robert York and Zaijin Zhan. 
260 |a [Washington, D.C.] :  |b International Monetary Fund,  |c ©2009. 
300 |a 1 online resource (40 pages) :  |b illustrations (some color) 
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490 1 |a IMF working paper ;  |v WP/09/174 
504 |a Includes bibliographical references (page 40). 
588 0 |a Print version record. 
520 |a 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 wea. 
505 0 |a I. Introduction; II. Background; A Oil Resources; Tables; 1. Oil Production, 2007-09; Figures; 1. Proven Oil Reserves, 2009; 2. Oil Production Projections, 2005-48; B. Oil Dependence; 2. Real GDP Growth, 2005-08; III. Recent Fiscal Developments and Prospects; A History Repeats Itself; 3. Nominal and Real Crude Oil (Spot) Prices, 1970-2014; 3. Size of the Oil Sector, 2006-08; 4. Correlation Between World Oil Prices and Government Spending, 1970-2008; 4. Change in Revenue and Government Spending, 2006-08; 5. Non-oil Primary Balances, 2006-08 
505 8 |a 6. Quality of Public Sector Management and Institutions, 2005-077. Selected Indicators of Institutional Quality, 2000 and 2007; Boxes; 1. Special Fiscal Institutions for the Management of Oil Revenue; 2. Oil Funds-Selected Examples; 8. Medium-Term Fiscal Strategies; B Medium-Term Projections and Vulnerability; 3. Fiscal Policy in Sub-Saharan Africa and the Global Economic Crisis; 5. Deteriorating Economic Outlook, 2009-13; 9. Deterioration in the Economic Outlook, 2009-13; 6. Fiscal Sustainability Ratios, 2008 vs. 2011; IV. Some Fiscal Rules for Sustainability 
505 8 |a 7. Vulnerability and Fiscal Adjustment, 2008-09A Underlying Assumptions; 8. Oil Price Assumptions, 2005-48; 10. Estimates of Proven Oil Reserves, 2008-09; V. Estimates of Long-Term Fiscal Sustainability; A. Baseline Results; 11. Long-Term Macroeconomic Assumptions; 9. Average Sustainable Non-Oil Primary Deficit Under Different Fiscal Rules, 2009-48; 10. Average Sustainable Non-Oil Primary Deficit Under Different Fiscal Rules, 2009-13; 11. Unweighted-average Sustainable Non-Oil Primary Deficit Under Different Fiscal Rules, Selected Periods 
505 8 |a 4. Nigeria: Fiscal Sustainability Under a Wider Resource BaseB. Sensitivity Analysis; 12. Sensitivity of the Sustainable Non-oil Primary Deficit to Oil Prices Under a Permanent Income Hypothesis, 2009-48; 13. Sensitivity of the Sustainable Non-oil Primary Deficit to Real Interest Rates Under a Permanent Income Hypothesis, 2009-48; 14. Unweighted-average Sustainable Non-Oil Primary Deficit Under Different Fiscal Rules and Real Interest Rates, 2009-48; C. The Impact of Oil Price Uncertainty; 12. Republic of Congo: Simulation Parameters with Oil Price Uncertainty 
505 8 |a 15. Republic of Congo: Sustainable Non-Oil Primary Deficit Under Oil Price Uncertainty, 2009-48VI. Summary and Policy Implications; References 
546 |a English. 
650 0 |a Fiscal policy  |z Africa, Sub-Saharan. 
650 0 |a Financial crises  |z Africa, Sub-Saharan. 
650 0 |a Petroleum products  |x Prices  |z Africa, Sub-Saharan. 
650 7 |a Financial crises  |2 fast 
650 7 |a Fiscal policy  |2 fast 
650 7 |a Petroleum products  |x Prices  |2 fast 
651 7 |a Sub-Saharan Africa  |2 fast 
700 1 |a Zhan, Zaijin,  |e author. 
710 2 |a International Monetary Fund.  |b African Department. 
758 |i has work:  |a Fiscal vulnerability and sustainability in oil-producing sub-saharan african countries (Text)  |1 https://id.oclc.org/worldcat/entity/E39PCGdQgCCGxyRBwyxTWkGkcP  |4 https://id.oclc.org/worldcat/ontology/hasWork 
776 0 8 |i Print version:  |a York, Robert C. (Robert Christopher), 1962-  |t Fiscal vulnerability and sustainability in oil-producing Sub-Saharan African countries.  |d [Washington, D.C.] : International Monetary Fund, ©2009  |w (OCoLC)649053419 
830 0 |a IMF working paper ;  |v WP/09/174. 
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