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A Primer on Fiscal Analysis in Oil-Producing Countries

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Author Info
Daria Zakharova
Paulo A. Medas
Abstract

This paper proposes an integrated approach to fiscal policy analysis in oil producing countries (OPCs) geared towards addressing their unique and complex policy challenges. First, an accurate assessment of the fiscal stance in OPCs can be obscured by large and volatile oil revenue flows. Second, uncertain and volatile oil revenue flows can complicate the management of macroeconomic policies in these countries. Third, given the exhaustibility of oil reserves, OPCs need to address longer-term sustainability and intergenerational equity issues. The use of non-oil fiscal indicators, stress tests, medium-term frameworks, and permanent oil income models can greatly aid in addressing these challenges.

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Paper provided by International Monetary Fund in its series IMF Working Papers with number 09/56.

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Length: 39 pages
Date of creation: 19 Mar 2009
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Handle: RePEc:imf:imfwpa:09/56

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Related research
Keywords: Fiscal policy ; Oil producing countries ; Oil revenues ; Commodity price fluctuations ; Nonoil sector ; Revenue sources ; Cross country analysis ;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Ugo Fasano-Filho & Qing Wang, 2002. "Testing the Relationship between Government Spending and Revenue: Evidence from GCC Countries," IMF Working Papers 02/201, International Monetary Fund. [Downloadable!]
  2. Nada Choueiri & Klaus-Stefan Enders & Yuri Vladimirovich Sobolev & Jan Walliser & Sherwyn Williams, 2002. "Yemen in the 1990s: From Unification to Economic Reform," IMF Occasional Papers 208, International Monetary Fund.
  3. Michael Gavin, 1997. "A Decade of Reform in Latin America: Has it Delivered Lower Volatility?," RES Working Papers 4076, Inter-American Development Bank, Research Department. [Downloadable!]
  4. Aizenman, Joshua & Marion, Nancy P, 1993. "Policy Uncertainty, Persistence and Growth," Review of International Economics, Blackwell Publishing, vol. 1(2), pages 145-63, June.
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This page was last updated on 2009-11-20.

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