ENGLISH

Fiscal Vulnerability and Sustainability in Oil-Producing Sub-Saharan African Countries

By Zaijin Zhan; Robert C. York

Book information

Publisher
International Monetary Fund
Year
2009
ISBN
9781451917482, 9781451873214
LCC
HJ192.5 -- .Y67 2009eb
Language
english
Format
EPUB
Filesize
2 MB (1604911 bytes)
Series
IMF Working Papers
Edition
1
Pages
42\0
Time added
2023-08-25 23:54:11
Fiscal policy -- AfricaSub-Saharan. ; Petroleum reserves -- AfricaSub-Saharan.; BUS069000

Description

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 wealth, we focus on the non-oil primary balance as the relevant indicator of how initial conditions and resource endowments can influence long-term considerations in several different models of fiscal rules.

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