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Record Nr. |
UNINA9910788526303321 |
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Autore |
Segura Vasi Alonso |
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Titolo |
Management of Oil Wealth Under the Permanent Income Hypothesis : : The Case of São Tomé and Príncipe / / Alonso Segura Vasi |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2006 |
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ISBN |
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1-4623-3668-X |
1-4527-1179-8 |
1-282-53128-X |
1-4519-8902-4 |
9786613821874 |
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Descrizione fisica |
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1 online resource (34 p.) |
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Collana |
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Soggetti |
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Income - Sao Tome and Principe |
Consumption (Economics) - Sao Tome and Principe |
Investments: Energy |
Macroeconomics |
Taxation |
Industries: Energy |
Energy: General |
Business Taxes and Subsidies |
Macroeconomics: Production |
Energy: Demand and Supply |
Prices |
Macroeconomics: Consumption |
Saving |
Wealth |
Investment & securities |
Public finance & taxation |
Petroleum, oil & gas industries |
Oil |
Oil, gas and mining taxes |
Oil production |
Oil prices |
Government consumption |
Petroleum industry and trade |
Consumption |
Economics |
São Tomé and Príncipe, Democratic Republic of |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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""Contents""; ""I. INTRODUCTION""; ""II. GEOGRAPHICAL""; ""III. OIL SECTOR INSTITUTIONAL FRAMEWORK""; ""IV. LICENSING""; ""V. FISCAL RULES""; ""VI. APPLICATION""; ""VII. SENSITIVITY ANALYSIS""; ""VIII. SIMULATING PER CAPITA PIH""; ""IX. CONCLUSIONS""; ""APPENDIXES""; ""REFERENCES"" |
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Sommario/riassunto |
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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 and Príncipe is the first country in Africa to adopt this rule. Finally, the paper offers a preliminary quantitative analysis of the impact of oil sector development on government consumption and savings. It shows that the country's oil wealth could be significant, which would enable sustainable government consumption and intergenerational equity through a gradual buildup of the Permanent Fund for Future Generations. |
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