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


  • Zaijin Zhan
  • Robert C York


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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  • Zaijin Zhan & Robert C York, 2009. "Fiscal Vulnerability and Sustainability in Oil-Producing Sub-Saharan African Countries," IMF Working Papers 09/174, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:09/174

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    References listed on IDEAS

    1. Easterly William R., 2001. "Growth Implosions and Debt Explosions: Do Growth Slowdowns Cause Public Debt Crises?," The B.E. Journal of Macroeconomics, De Gruyter, vol. 1(1), pages 1-26, February.
    2. Easterly, william, 2001. "Growth implosions, debt explosions, and my Aunt Marilyn : do growth slowdowns cause public debt crises?," Policy Research Working Paper Series 2531, The World Bank.
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    Cited by:

    1. Rolando Ossowski & Havard Halland, 2016. "Fiscal Management in Resource-Rich Countries," World Bank Publications, The World Bank, number 24577, June.
    2. Andreea STOIAN, 2011. "A Retrospective Approach on Assessing Fiscal Vulnerability: Empirical Evidence for Overindebted European Countries," Timisoara Journal of Economics, West University of Timisoara, Romania, Faculty of Economics and Business Administration, vol. 4(3(15)), pages 183-188.


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