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There are few areas of economic policy-making in which the returns to good decisions are so high-and the punishment of bad decisions so cruel-as in the management of natural resource wealth. Rich endowments of oil, gas and minerals have set some countries on courses of sustained and robust...
Persistent link: https://www.econbiz.de/10014397213
This Selected Issues paper on Angola reports that oil production in Angola accounts for about half of GDP and about 75 percent of government revenue. The projections for the government’s fiscal position in the medium term will be crucially dependent on both the value of oil production and...
Persistent link: https://www.econbiz.de/10005252648
This Poverty Reduction Strategy Paper for Nigeria highlights the National Economic Empowerment and Development Strategy (NEEDS). NEEDS gives special support to agriculture, industry, small and medium-scale enterprises, and oil and gas. Under the plan, the government will seek long-term capital...
Persistent link: https://www.econbiz.de/10005591671
findings are broadly consistent with the presence of Dutch disease in the second group during the oil-price boom. Departing …
Persistent link: https://www.econbiz.de/10009370557
impact of oil price changes on the level and variability of money demand, balance of payments and inflation are significantly …
Persistent link: https://www.econbiz.de/10014396215
This Technical Assistance (TA) Report on the Philippines discusses the fiscal regime for the mining sector. The Philippines has long been a producer of minerals, but the mining and petroleum sectors account for only a small share of the economy, exports, and government revenue. The petroleum...
Persistent link: https://www.econbiz.de/10014395456
By definition, fiscal dominance impedes the effective implementation of any monetary strategy aimed at controlling inflation. Economies that exhibit oil dominance-a situation in which oil exports largely affect the main macroeconomic indicators-may also exhibit fiscal dominance. However, in this...
Persistent link: https://www.econbiz.de/10014401522
Persistent link: https://www.econbiz.de/10009424867
Economic and financial developments in the GCC economies are interwoven with oil price movements. GCC economies are … highly dependent on oil and gas exports. Oil price upturns lead to higher oil revenues, stronger fiscal and external …-macro-financial linkages mean that asset quality and liquidity in the financial system may deteriorate in a low oil price environment and …
Persistent link: https://www.econbiz.de/10014408585
This note discusses the implications of the price shocks for the balance of payments of low-income countries in sub …
Persistent link: https://www.econbiz.de/10014410007