Fiscal Vulnerability and Sustainability in Oil-Producing Sub-Saharan African Countries

August 1, 2009

Preview Citation

Format: Chicago

Zaijin Zhan, and Robert C York. Fiscal Vulnerability and Sustainability in Oil-Producing Sub-Saharan African Countries, (USA: International Monetary Fund, 2009) accessed November 21, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

Over many years rises and fall of world oil prices have been repeatedly reflected in the boom-bust cycles in oil-exporting countries the world over. The recent spectacular rise and equally spectacular fall in prices provides an opportunity to inquire whether anything is different this time. In this paper we limit the analysis to the experience, outlook, and longterm fiscal policy considerations for eight of the world's oil-producing countries in sub- Saharan Africa. Because we are interested in gauging their fiscal vulnerability and sustainability from the angle of managing exhaustible oil wealth, we focus on the non-oil primary balance as the relevant indicator of how initial conditions and resource endowments can influence long-term considerations in several different models of fiscal rules.

Subject: Fiscal rules, Fiscal stance, Oil, Oil prices, Oil, gas and mining taxes

Keywords: Government, Oil price, Price, Revenue, WP

Publication Details

Pages:

40
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2009/174
Stock No:

WPIEA2009174
ISBN:

9781451873214
ISSN:

1018-5941

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