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A New Fiscal Framework for Resource-Rich Countries

Author

Listed:
  • Mr. Luc Eyraud
  • William Gbohoui
  • Mr. Paulo A Medas

Abstract

This paper revisits the debate on the design of fiscal rules in resource-rich countries. Its main objective is to assess alternative systems of rules against their policy objectives, while taking into account country characteristics. One of the contributions of the paper is to propose fiscal frameworks that are centered around the principle of insurance against shocks and less reliant on estimating precisely resource wealth, which tends to be highly volatile.

Suggested Citation

  • Mr. Luc Eyraud & William Gbohoui & Mr. Paulo A Medas, 2023. "A New Fiscal Framework for Resource-Rich Countries," IMF Working Papers 2023/230, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2023/230
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=541132
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    Cited by:

    1. Andrea Gazzani & Vicente Herrera & Alejandro Vicondoa, 2024. "The Asymmetric Effects of Commodity Price Shocks in Emerging Economies," Working Papers 311, Red Nacional de Investigadores en Economía (RedNIE).

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