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alternative tax systems and identify potential distortions. Although the model is a highly simplified, it incorporates many … of enhanced oil recovery and treats the impact of taxation on exploration and development in an integrated manner …
Persistent link: https://www.econbiz.de/10011142038
This paper documents the protracted process of shaping the rules governing oil operations in São Tomé and Príncipe. It analyzes the institutional framework for oil sector development, which applies Milton Friedman's permanent income hypothesis to the management of oil resources. São Tomé...
Persistent link: https://www.econbiz.de/10005769328
The paper aims to identify the optimal size, speed and composition of the medium-term fiscal adjustment in the context of Sudan's limited oil reserves. The permanently sustainable non-oil primary balance approach suggests the need for significant fiscal adjustment over the medium term, requiring...
Persistent link: https://www.econbiz.de/10008470390
Income and social indicators, GDP by current prices, supply and use of resources at current prices, savings and investment balances, crude oil production and prices, capital expenditure and oil exploration, discovered oil fields, mineral production, exports, and prices, production and export of...
Persistent link: https://www.econbiz.de/10005591499
The paper reviews the background and the existing institutional framework for oil sector development in São Tomé and Príncipe and the challenges faced in implementing transparency rules in all oil-related transactions. It provides a quantitative analysis of the impact of oil sector...
Persistent link: https://www.econbiz.de/10011242845
Statistical data and issues are discussed in this paper. Mauritania reached the completion point under the enhanced Initiative for Heavily Indebted Poor Countries. In July 2004, a new economic team took actions to tighten fiscal and monetary policies. The authorities intend to adopt sound...
Persistent link: https://www.econbiz.de/10011243789
This Selected Issues paper on Algeria reports that the authorities have relied on an expansionary fiscal stance to stimulate growth and employment, but structural reforms have virtually stalled. Although the economy has recorded increasing growth, the nonhydrocarbon sector remains small and...
Persistent link: https://www.econbiz.de/10005591638
This Selected Issues and Statistical Appendix paper on Gabon reviews management of oil revenues, competitiveness, and growth. The nature of Gabon’s problems has not changed during the past 15 years. The need to diversify the economy and the export base; control fiscal expenditure and the...
Persistent link: https://www.econbiz.de/10005591746
While models based on Friedman's (1957) permanent-income hypothesis can provide oilproducing countries with long-run fiscal targets, they usually abstract from short-run costs associated with consolidation. This paper proposes a model that takes such adjustment costs (or "habits") into account....
Persistent link: https://www.econbiz.de/10005768876
This paper empirically assesses the impact of oil price shocks on the underlying non-oil economic cycle in oil-exporting countries. Panel VAR analysis and the associated impulse responses indicate that in countries where the oil sector is large in relation to the economy, oil price changes...
Persistent link: https://www.econbiz.de/10005599370