Whether fiscal policy is sustainable depends on a government's future revenue and expenditure streams, both of which are highly uncertain. In commodity-rich countries, this problem is intensified by unpredictable and volatile commodity prices. We show how spending rules for oil income and...

This paper assesses the implications of the use of oil revenue for public investment on growth and fiscal sustainability in Cameroon. We develop a dynamic stochastic general equilibrium model to analyze the effects of such investment on growth and on the path of key fiscal indicators, such as...

The author writes that state tax revenue grew by 3.1 percent in the April-June quarter of 2003 over tax revenue in the same quarter of 2002. The April-June quarter of 2003 was the strongest quarter of growth since January-March 2001; however, almost all of the growth in the quarter resulted from net...