Fiscal Policy Formulation and Implementation in Oil-Producing Countries

Fiscal Policy Formulation and Implementation in Oil-Producing Countries

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Countries with large oil resources can benefit substantially from them. However, despite their huge natural resources, many oil producers have had disappointing growth, widespread poverty, and continuing vulnerability to oil price and other external shocks. Fiscal policy can play a central role indetermining the extent to which a country benefits from its oil wealth. This book brings together studies that provide analysis and findings on fiscal policy issues in oil-producing countries from a diverse international perspective. A key focus for the authors is how to manage oil resources in a way that contributes to a stable macroeconomic environment, sustainable growth, and poverty reduction.Oil prices are the outcome of a market process a€” a fact that is easily overlooked in the quest to model prices as if they ... An analysis of the futures market data strongly suggests that there is a€” or market participants believe that there is a€” aanbsp;...

Title:Fiscal Policy Formulation and Implementation in Oil-Producing Countries
Author: Mr. Jeffrey M. Davis, Ms. Annalisa Fedelino, Mr. Rolando Ossowski
Publisher:International Monetary Fund - 2003-08-21

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