Hidden Bibliographic Details
| Other authors / contributors: | Ossowski, Rolando.
International Monetary Fund. Fiscal Affairs Department.
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| ISBN: | 145190424X
9781451904246
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| Notes: | Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | Oil-producing countries face challenges arising from the fact that oil revenue is exhaustible, volatile, and uncertain, and largely originates from abroad. Reflecting these challenges, the paper proposes some important general principles for the formulation and assessment of fiscal policy in these countries. The main findings can be summarized in some key guidelines: the non-oil balance should feature prominently in the formulation of fiscal policy; it should generally be adjusted gradually; the government should strive to accumulate substantial financial assets over the period of oil production; and, where necessary, strategies should aim at breaking procyclical fiscal responses to volatile oil prices.
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| Other form: | Print version: Barnett, Steven. Operational aspects of fiscal policy in oil-producing countries. [Washington, D.C.] : International Monetary Fund, ©2002
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| Standard no.: | 10.5089/9781451904246.001
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