Operational aspects of fiscal policy in oil-producing countries /

Operational aspects of fiscal policy in oil-producing countries /

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Bibliographic Details
Author / Creator:	Barnett, Steven.
Imprint:	[Washington, D.C.] : International Monetary Fund, ©2002.
Description:	1 online resource (34 pages)
Language:	English
Series:	IMF working paper, 2227-8885 ; WP/02/177 IMF working paper ; WP/02/177.
Subject:	Petroleum industry and trade. Petroleum products -- Prices. Fiscal policy. Fiscal policy. Petroleum industry and trade. Petroleum products -- Prices.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12498458

Hidden Bibliographic Details
Other authors / contributors:	Ossowski, Rolando. International Monetary Fund. Fiscal Affairs Department.
ISBN:	145190424X 9781451904246
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.
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.
Other form:	Print version: Barnett, Steven. Operational aspects of fiscal policy in oil-producing countries. [Washington, D.C.] : International Monetary Fund, ©2002
Standard no.:	10.5089/9781451904246.001

Description
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.
Physical Description:	1 online resource (34 pages)
Format:	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.
ISBN:	145190424X 9781451904246
ISSN:	2227-8885 ;