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Record Nr. |
UNINA9910818149803321 |
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Autore |
Clausen Jens |
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Titolo |
Calculating Sustainable Non-mineral Balances as Benchmarks for Fiscal Policy : : The Case of Botswana / / Jens Clausen |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2008 |
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ISBN |
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1-4623-7598-7 |
1-4527-1780-X |
1-4518-6977-0 |
9786612840715 |
1-282-84071-1 |
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Edizione |
[1st ed.] |
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Descrizione fisica |
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1 online resource (17 p.) |
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Collana |
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IMF Working Papers |
IMF working paper ; ; WP/08/117 |
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Disciplina |
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Soggetti |
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Fiscal policy - Botswana |
Revenue - Botswana |
Macroeconomics |
Public Finance |
Natural Resources |
Nonrenewable Resources and Conservation: General |
Fiscal Policy |
Personal Income, Wealth, and Their Distributions |
Agricultural and Natural Resource Economics |
Environmental and Ecological Economics: General |
Environmental management |
Non-renewable resources |
Fiscal policy |
Fiscal stance |
Personal income |
Natural resources |
Income |
Botswana Economic conditions 1966- |
Botswana |
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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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Description based upon print version of record. |
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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. Fiscal Policy in Resource-Rich Countries:; A. International Experience; B. The Permanent Income Hypothesis; C. Mathematical Representation of How to Calculate Benchmarks; III. The Case of Botswana; A. Background; B. Calculating Sustainable Non-mineral Balances for Botswana; Figures; 1 Botswana: Mineral Revenues, Annuity, and Asset Accumulation; Table; 1. Botswana: Fiscal Sustainability Benchmarks; C. Sensitivity Analysis; 2. Botswana: Sensitivity Analysis for Benchmarked Balances; 3. Botswana: Mineral Revenues, Annuity, and Asset Accumulation; IV. Conclusions |
References |
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Sommario/riassunto |
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Assuming a social welfare function that smoothes expenditure, this paper calculates a sustainability benchmark for the non-mineral balance in Botswana that is based on a notion of a "permanent income" from non-renewable resources. It is derived by constructing a hypothetical annuity from revenues from these resources, which is held constant in terms of GDP. Botswana is an interesting case because current projections suggest that diamond resources could be largely exhausted within a generation. |
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