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Presalt Oil Discoveries and the Long-Term Development of Brazil

Author

Listed:
  • Fajnzylber, Pablo

    (World Bank)

  • Lederman, Daniel

    (World Bank)

  • Oliver, Julia

    (World Bank)

Abstract

Newly discovered oil reserves off the coast of Brazil present a unique opportunity for the country to boost an already successful trajectory of growth and development. This note examines potential choices for the government when it contemplates how to disburse this newfound wealth. This review suggests that Brazil would be well served by saving a large amount of the windfall, ensuring that the country’s increased wealth reaches the poor, putting in place strong fiscal planning to guide efficient investment, and building the country’s research and development capacity.

Suggested Citation

  • Fajnzylber, Pablo & Lederman, Daniel & Oliver, Julia, 2013. "Presalt Oil Discoveries and the Long-Term Development of Brazil," World Bank - Economic Premise, The World Bank, issue 113, pages 1-4, April.
  • Handle: RePEc:wbk:prmecp:ep113
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    More about this item

    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • H5 - Public Economics - - National Government Expenditures and Related Policies
    • H6 - Public Economics - - National Budget, Deficit, and Debt

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