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
Table of Contents:
  • I. Introduction; II. Fiscal Policy in Resource-Rich Countries:; A. International Experience; B. The Permanent Income Hypothesis; C. Mathematical Representation of How to Calculate Benchmarks; III. The Case of Botswana; A. Background; B. Calculating Sustainable Non-mineral Balances for Botswana; Figures; 1 Botswana: Mineral Revenues, Annuity, and Asset Accumulation; Table; 1. Botswana: Fiscal Sustainability Benchmarks; C. Sensitivity Analysis; 2. Botswana: Sensitivity Analysis for Benchmarked Balances; 3. Botswana: Mineral Revenues, Annuity, and Asset Accumulation; IV. Conclusions.

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