Fiscal Management In Resource Rich Countries

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Fiscal Management in Resource-Rich Countries

Author : Rolando Ossowski
Publisher : World Bank Publications
ISBN 13 : 1464804966
Total Pages : 180 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Fiscal Management in Resource-Rich Countries by : Rolando Ossowski

Download or read book Fiscal Management in Resource-Rich Countries written by Rolando Ossowski and published by World Bank Publications. This book was released on 2016-06-28 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: The extractive industries (EI) sector occupies an outsize space in the economies of many developing countries. Policy makers, economists, and public finance professionals working in such countries are frequently confronted with issues that require an in-depth understanding of the sector, its economics, governance, and policy challenges, as well as the implications of natural resource wealth for fiscal and public financial management. The objective of the two-volume Essentials for Economists, Public Finance Professionals, and Policy Makers, published in the World Bank Studies series, is to provide a concise overview of the EI-related topics these professionals are likely to encounter. This second volume, Fiscal Management in Resource-Rich Countries, addresses critical fiscal challenges typically associated with large revenue flows from the EI sector. The volume discusses fiscal policy across four related dimensions: short-run stabilization, the management of fiscal risks and vulnerabilities, the promotion of long-term sustainability, and the importance of good public financial management and public investment management systems. The volume subsequently examines several institutional mechanisms used to aid fiscal management, including medium-term expenditure frameworks, resource funds, fiscal rules, and fiscal councils. The volume also discusses the earmarking of revenue, resource revenue projections as applied to the government budget, and fiscal transparency, and outlines several fiscal indicators used to assess the fiscal stance of resource-rich countries. The authors hope that economists, public finance professionals, and policy makers working in resource-rich countries—including decision makers in ministries of finance, international organizations, and other relevant entities—will find the volume useful to their understanding and analysis of fiscal management in resource-rich countries.

Fiscal Frameworks for Resource Rich Developing Countries

Author : Marcos Poplawski-Ribeiro
Publisher : International Monetary Fund
ISBN 13 : 1475510063
Total Pages : 29 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Fiscal Frameworks for Resource Rich Developing Countries by : Marcos Poplawski-Ribeiro

Download or read book Fiscal Frameworks for Resource Rich Developing Countries written by Marcos Poplawski-Ribeiro and published by International Monetary Fund. This book was released on 2012-05-16 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience interested in economic policy issues. This Web-only series replaced Staff Position Notes in January 2011.

Macroeconomic Policy Frameworks for Resource-Rich Developing Countries - Background Paper 1

Author : International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
ISBN 13 : 1498339980
Total Pages : 75 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Macroeconomic Policy Frameworks for Resource-Rich Developing Countries - Background Paper 1 by : International Monetary Fund. Strategy, Policy, & Review Department

Download or read book Macroeconomic Policy Frameworks for Resource-Rich Developing Countries - Background Paper 1 written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2012-08-24 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides deeper insights on a few themes with regard to the experience with macroeconomic management in resource-rich developing countries (RRDCs). First, some stylized facts on the performance of these economies relative to their non-resource peers are provided. Second, the experience of Fund engagement in these economies with respect to surveillance, programs, and technical assistance is assessed. Third, the experience of selected countries with good practices in the management of the natural resource wealth is presented. Fourth, the experience of IMF advice in helping RRDCs set up resource funds is discussed. Finally, the main themes and messages from the IMF staff consultation with external stakeholders (CSOs, policy makers, academics) are presented.

Public Financial Management in Resource-Rich Countries: Essentials for Economists and Public Finance Professionals

Author : World Bank Publications
Publisher :
ISBN 13 : 9781464804977
Total Pages : 171 pages
Book Rating : 4.8/5 (49 download)

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Book Synopsis Public Financial Management in Resource-Rich Countries: Essentials for Economists and Public Finance Professionals by : World Bank Publications

Download or read book Public Financial Management in Resource-Rich Countries: Essentials for Economists and Public Finance Professionals written by World Bank Publications and published by . This book was released on 2015-06-20 with total page 171 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume addresses the need for improved public financial management in resource-rich countries, and discusses how this can be achieved. The volume takes as a point of departure the political economy constraints that can frequently be expected in resource-rich countries. The topics discussed include financial compliance, and the special problems that it faces in developing countries; strengthening of key compliance agencies, and reform strategies for compliance. The application of medium term budget and fiscal planning in resource-rich countries is discussed, with a focus on resource-specific aspects and reform strategy. Improvement of public investment management, a fundamental challenge in many resource-rich countries, is discussed, as are transparency aspects of PFM and PIM. The three volumes of the report are mutually supportive, but can also be read independently.

A New Fiscal Framework for Resource-Rich Countries

Author : Mr. Luc Eyraud
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis A New Fiscal Framework for Resource-Rich Countries by : Mr. Luc Eyraud

Download or read book A New Fiscal Framework for Resource-Rich Countries written by Mr. Luc Eyraud and published by International Monetary Fund. This book was released on 2023-11-03 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper revisits the debate on the design of fiscal rules in resource-rich countries. Its main objective is to assess alternative systems of rules against their policy objectives, while taking into account country characteristics. One of the contributions of the paper is to propose fiscal frameworks that are centered around the principle of insurance against shocks and less reliant on estimating precisely resource wealth, which tends to be highly volatile.

From Volatility to Stability in Expenditure

Author : Naotaka Sugawara
Publisher : International Monetary Fund
ISBN 13 : 1484334566
Total Pages : 49 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis From Volatility to Stability in Expenditure by : Naotaka Sugawara

Download or read book From Volatility to Stability in Expenditure written by Naotaka Sugawara and published by International Monetary Fund. This book was released on 2014-03-12 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the effect of stabilization funds on the volatility of government expenditure in resource-rich countries. Using a panel data set of 68 resource-rich countries over 1988–2012, the results find that the existence of stabilization funds contributes to smoothing government expenditure. The spending volatility in countries that have established such funds is found to be 13 percent lower in the main estimation, and similar impacts are found in robustness tests. The analysis also shows that political institutions and fiscal rules are significant factors in reducing the expenditure volatility, while highlighting the roles of the size of economy, diversified exports, real sector management, and financial markets.

Guide on Resource Revenue Transparency

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1498331505
Total Pages : 78 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Guide on Resource Revenue Transparency by : International Monetary Fund

Download or read book Guide on Resource Revenue Transparency written by International Monetary Fund and published by International Monetary Fund. This book was released on 2005-07-06 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: This guide gives a framework that covers the resource-specific issues to be considered in a fiscal transparency assessment, for example as part of a fiscal Report on the Observance of Standards and Codes (ROSCs). Equally importantly, it provides a summary overview of generally recognized good or best practices for transparency of resource revenue management that can be used by countries themselves, as well as by the IMF, the World Bank, and others providing technical support.

Sharing Resource Wealth Inclusively Within and Across Generations

Author : Nathalie Pouokam
Publisher : International Monetary Fund
ISBN 13 : 1513582429
Total Pages : 38 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Sharing Resource Wealth Inclusively Within and Across Generations by : Nathalie Pouokam

Download or read book Sharing Resource Wealth Inclusively Within and Across Generations written by Nathalie Pouokam and published by International Monetary Fund. This book was released on 2021-04-23 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the main challenges faced by resource-rich nations in promoting equity; describes policy tools available for managing exhaustible natural resources; and analyzes the relationship between resource wealth and state fragility. It is argued that human capital accumulation, innovation, and technology diffusion can help escape the trap of low growth and resource dependence that plagues so many developing countries. But to make this possible, resource-rich nations must sustain strong citizen participation in the policy making to hold governments accountable and ensure the inclusive management of resource wealth.

Fiscal Management of Natural Resource Revenues in a Developing Country Setting (or How to Design a Fiscal Rule If You Are Not Norway)

Author : Sebastian Eckardt
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (16 download)

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Book Synopsis Fiscal Management of Natural Resource Revenues in a Developing Country Setting (or How to Design a Fiscal Rule If You Are Not Norway) by : Sebastian Eckardt

Download or read book Fiscal Management of Natural Resource Revenues in a Developing Country Setting (or How to Design a Fiscal Rule If You Are Not Norway) written by Sebastian Eckardt and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

OECD Development Policy Tools Using Extractive Revenues for Sustainable Development Policy Guidance for Resource-rich Countries

Author : OECD
Publisher : OECD Publishing
ISBN 13 : 9264769447
Total Pages : 46 pages
Book Rating : 4.2/5 (647 download)

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Book Synopsis OECD Development Policy Tools Using Extractive Revenues for Sustainable Development Policy Guidance for Resource-rich Countries by : OECD

Download or read book OECD Development Policy Tools Using Extractive Revenues for Sustainable Development Policy Guidance for Resource-rich Countries written by OECD and published by OECD Publishing. This book was released on 2019-11-25 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Transforming natural finite assets into human, social and physical capital is a key challenge for natural resource-rich countries. This report distils related lessons from the OECD Policy Dialogue on Natural Resource-based Development on natural resource revenue management and spending for sustainable development.

Key Issues in Natural Resource Taxation and Revenue Management in the Commonwealth

Author : Daniel Wilde
Publisher : Commonwealth Secretariat
ISBN 13 : 1849291608
Total Pages : 49 pages
Book Rating : 4.8/5 (492 download)

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Book Synopsis Key Issues in Natural Resource Taxation and Revenue Management in the Commonwealth by : Daniel Wilde

Download or read book Key Issues in Natural Resource Taxation and Revenue Management in the Commonwealth written by Daniel Wilde and published by Commonwealth Secretariat. This book was released on 2016-10-11 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public policies in taxation and revenue management are key to ensuring natural resource wealth results in economic development. Tax policy and systems should ensure that whenever natural resources are extracted, the host state receives a fair share of revenue. Revenue management policies are required to ensure that government revenues from natural resources are wisely used to finance sustainable economic development. This Economic Paper analyses key issues in natural resource taxation and revenue management and recommends policies that can improve countries’ economic performance. The discussion draws on economic theory, empirical evidence and the work of the Commonwealth Secretariat.

Intergovernmental Fiscal Management in Natural Resource-Rich Settings

Author : Lorena Vinuela
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (16 download)

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Book Synopsis Intergovernmental Fiscal Management in Natural Resource-Rich Settings by : Lorena Vinuela

Download or read book Intergovernmental Fiscal Management in Natural Resource-Rich Settings written by Lorena Vinuela and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

A Public Financial Management Framework for Resources-Producing Countries

Author : Jean-Luc Hélis
Publisher : International Monetary Fund
ISBN 13 : 1451982151
Total Pages : 39 pages
Book Rating : 4.4/5 (519 download)

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Book Synopsis A Public Financial Management Framework for Resources-Producing Countries by : Jean-Luc Hélis

Download or read book A Public Financial Management Framework for Resources-Producing Countries written by Jean-Luc Hélis and published by International Monetary Fund. This book was released on 2010-03-01 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This working paper overviews the challenges posed by resource revenues management and the policy prescriptions to meet them, and focuses on the Public Financial Management (PFM) framework and reforms that resource-producing countries should adopt. The paper outlines a PFM framework and reform path that take into account the institutional diversity of resource-producing countries. In the short term, the proposed reforms highlights the tools that could be implemented even where the PFM system is rather basic, while over the medium and long term they aim at converging with best international PFM practices.

Public Budget in Resource-Rich Economies

Author : Benedikt Wiesmann
Publisher : GRIN Verlag
ISBN 13 : 3656404887
Total Pages : 20 pages
Book Rating : 4.6/5 (564 download)

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Book Synopsis Public Budget in Resource-Rich Economies by : Benedikt Wiesmann

Download or read book Public Budget in Resource-Rich Economies written by Benedikt Wiesmann and published by GRIN Verlag. This book was released on 2013-04-10 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2012 in the subject Economics - Finance, grade: 1,3, Frankfurt School of Finance & Management, course: Public Finance - Finanzwissenschaften, language: English, abstract: The objective of this paper is to examine how public expenditures, revenue and debt in resource-rich economies changed in the past, how politicians and bureaucrats respond(ed) to resource abundance, and how an optimal budget rule for resource-rich economies should be designed. The paper follows a non-technical approach and comes to the conclusion that the successful management of resource revenues highly depends on the political situation in an economy as this determines how well it sticks to any budget rule. The budget rule presented in section IV approaches the different parameters which are at play and shows challenges regarding the rule’s practical feasibility.

Do Fiscal Rules Foster Fiscal Discipline in Resource-Rich Countries?

Author : Ablam Estel Apeti
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 37 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Do Fiscal Rules Foster Fiscal Discipline in Resource-Rich Countries? by : Ablam Estel Apeti

Download or read book Do Fiscal Rules Foster Fiscal Discipline in Resource-Rich Countries? written by Ablam Estel Apeti and published by International Monetary Fund. This book was released on 2023-04-29 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the performance of fiscal rules in resource-rich countries (RRC). Using panel data for 57 commodity exporting countries from 1976 to 2021, we find that fiscal rules: (i) reduce the procyclicality of real public expenditures with terms of trade in oil exporting countries, and (ii) improve non-resource primary balances in all RRC, especially during terms of trade upturns. The rules’ design matters. Addressing the procyclicality of public expenditures with terms-of-trade can be achieved with expenditure rules, and, for oil-exporters, revenue rules (althoug limited data on the latter calls for taking the results cautiously). To improve non-resource fiscal balances, debt rules and fiscal balance rules are shown to have a positive impact, especially in oil exporting countries. We further investigate the effect of fiscal rules and other features of the fiscal framework through case studies (for Botswana, Mongolia, and Timor-Leste). These cases highlight that even when fiscal rules are not fully complied with, they lead to some degree of fiscal discipline. The case studies also highlight the importance of the quality of fiscal frameworks: frequent revisions, lack of compliance or low stringency of the rules can significantly hamper their effectiveness.

Fiscal Regimes for Extractive Industries—Design and Implementation

Author : International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
ISBN 13 : 1498340067
Total Pages : 82 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Fiscal Regimes for Extractive Industries—Design and Implementation by : International Monetary Fund. Fiscal Affairs Dept.

Download or read book Fiscal Regimes for Extractive Industries—Design and Implementation written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2012-08-16 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Better designed and implemented fiscal regimes for oil, gas, and mining can make a substantial contribution to the revenue needs of many developing countries while ensuring an attractive return for investors, according to a new policy paper from the International Monetary Fund. Revenues from extractive industries (EIs) have major macroeconomic implications. The EIs account for over half of government revenues in many petroleum-rich countries, and for over 20 percent in mining countries. About one-third of IMF member countries find (or could find) resource revenues “macro-critical” – especially with large numbers of recent new discoveries and planned oil, gas, and mining developments. IMF policy advice and technical assistance in the field has massively expanded in recent years – driven by demand from member countries and supported by increased donor finance. The paper sets out the analytical framework underpinning, and key elements of, the country-specific advice given. Also available in Arabic: ????? ??????? ?????? ???????? ???????????: ??????? ???????? Also available in French: Régimes fiscaux des industries extractives: conception et application Also available in Spanish: Regímenes fiscales de las industrias extractivas: Diseño y aplicación

Public Financial Management and Its Emerging Architecture

Author : Mr. M. Cangiano
Publisher : International Monetary Fund
ISBN 13 : 1475512198
Total Pages : 468 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Public Financial Management and Its Emerging Architecture by : Mr. M. Cangiano

Download or read book Public Financial Management and Its Emerging Architecture written by Mr. M. Cangiano and published by International Monetary Fund. This book was released on 2013-04-05 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first two decades of the twenty-first century have witnessed an influx of innovations and reforms in public financial management. The current wave of reforms is markedly different from those in the past, owing to the sheer number of innovations, their widespread adoption, and the sense that they add up to a fundamental change in the way governments manage public money. This book takes stock of the most important innovations that have emerged over the past two decades, including fiscal responsibility legislation, fiscal rules, medium-term budget frameworks, fiscal councils, fiscal risk management techniques, performance budgeting, and accrual reporting and accounting. Not merely a handbook or manual describing practices in the field, the volume instead poses critical questions about innovations; the issues and challenges that have appeared along the way, including those associated with the global economic crisis; and how the ground can be prepared for the next generation of public financial management reforms. Watch Video of Book Launch