Trinidad and tobago; The Energy Boom and Proposals for a Sustainable Fiscal Policy
Trinidad and Tobago is experiencing an energy boom stronger than the ones in 1970s and 1980s. The main fiscal policy challenge is to ensure that the increased revenues from the ultimately exhaustible resources are used in a way that protects the competitiveness of the nonenergy sector, builds assets to ensure intergenerational equity, and provides a cushion for stabilization. This paper derives estimates of a sustainable level of primary fiscal balance using Friedman's permanent income hypothesis. These estimates can be used as a guide for the formulation of medium- and long-term fiscal policy frameworks.
|Date of creation:||01 Oct 2005|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: (202) 623-7000
Fax: (202) 623-4661
Web page: http://www.imf.org/external/pubind.htm
More information through EDIRC
|Order Information:||Web: http://www.imf.org/external/pubs/pubs/ord_info.htm|
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.:
- International Monetary Fund, 2002. "Republic of Kazakhstan; Selected Issues and Statistical Appendix," IMF Staff Country Reports 02/64, International Monetary Fund.
- Marijn Verhoeven & Sanjeev Gupta & Erwin Tiongson, 1999. "Does Higher Government Spending Buy Better Results in Education and Health Care?," IMF Working Papers 99/21, International Monetary Fund.
- Nigel Andrew Chalk, 1998. "Fiscal Sustainability with Non-Renewable Resources," IMF Working Papers 98/26, International Monetary Fund.
- Solow, Robert M, 1986. " On the Intergenerational Allocation of Natural Resources," Scandinavian Journal of Economics, Wiley Blackwell, vol. 88(1), pages 141-49.
- Rodrigo O. ValdÃ©s & Eduardo Engel, 2000.
"Optimal Fiscal Strategy for Oil Exporting Countries,"
IMF Working Papers
00/118, International Monetary Fund.
- Eduardo M.R.A. Engel & Rodrigo Valdés, 2000. "Optimal Fiscal Strategy for Oil Exporting Countries," Documentos de Trabajo 78, Centro de Economía Aplicada, Universidad de Chile.
- Sheila Bassett & Claire Liuksila & Alejandro GarcÃa, 1994. "Fiscal Policy Sustainability in Oil-Producing Countries," IMF Working Papers 94/137, International Monetary Fund.
- International Monetary Fund, 2003. "Trinidad and Tobago; Selected Issues and Statistical Appendix," IMF Staff Country Reports 03/233, International Monetary Fund.
- International Monetary Fund, 1995. "Trinidad and Tobago; Economic Developments and Selected Background Issues," IMF Staff Country Reports 95/16, International Monetary Fund.
- Sachs, J-D & Warner, A-M, 1995.
"Natural Resource Abundance and Economic Growth,"
517a, Harvard - Institute for International Development.
When requesting a correction, please mention this item's handle: RePEc:imf:imfwpa:05/197. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jim Beardow)or (Hassan Zaidi)
If references are entirely missing, you can add them using this form.