Calculating Sustainable Non-mineral Balances as Benchmarks for Fiscal Policy.

Calculating Sustainable Non-mineral Balances as Benchmarks for Fiscal Policy.

Assuming a social welfare function that smoothes expenditure, this paper calculates a sustainability benchmark for the non-mineral balance in Botswana that is based on a notion of a ""permanent income"" from non-renewable resources. It is derived by constructing a hypothetical an...

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Bibliographic Details
Main Author: Clausen, Jens R.
Format: eBook
Language:English
Published: Washington : International Monetary Fund, 2008.
Series:IMF Working Papers.
Subjects:
Since 1966
Fiscal policy > Botswana.
Revenue > Botswana.
Economic history
Fiscal policy
Revenue
Botswana > Economic conditions > 1966-
Botswana
Online Access:Click for online access
Description
Summary:Assuming a social welfare function that smoothes expenditure, this paper calculates a sustainability benchmark for the non-mineral balance in Botswana that is based on a notion of a ""permanent income"" from non-renewable resources. It is derived by constructing a hypothetical annuity from revenues from these resources, which is held constant in terms of GDP. Botswana is an interesting case because current projections suggest that diamond resources could be largely exhausted within a generation.
Physical Description:1 online resource (17 pages)
Bibliography:References.
ISBN:9781451914313
1451914318
Source of Description, Etc. Note:Print version record.

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