Venezuela's government presents a debt structure biased toward instruments with short maturities mostly held by international bankers. However, the government has access to windfall revenues associated to oil exports that enhance its creditworthiness. A version of Cole and Kehoe (2000) model of...

The total debt of the oil and gas sector globally stands at roughly $2.5 trillion, two and a half times what it was at the end of 2006. The recent fall in the oil price represents a significant decline in the value of assets backing this debt, introducing a new element to price developments. In...

The study investigates the relationship between oil export earnings and Nigeria's external debt. The intent is to empirically determine the relationship between external debt and oil revenue using the data from 1970 to 2006. The model which was econometrically estimated and simulated, found out...

Crude oil prices have dramatically increased over the past years and are now at a historical maximum in nominal terms and very close to it in real terms. It is difficult to argue, at least for net oil importers, that higher oil prices have a positive impact on welfare. In fact, the negative...