04277oam 22009734 450 991078823840332120230721045623.01-4623-7598-71-4527-1780-X1-4518-6977-097866128407151-282-84071-1(CKB)3170000000055023(EBL)1607868(SSID)ssj0000943985(PQKBManifestationID)11559067(PQKBTitleCode)TC0000943985(PQKBWorkID)10983250(PQKB)11326098(OCoLC)276785198(MiAaPQ)EBC1607868(IMF)WPIEE2008117(EXLCZ)99317000000005502320020129d2008 uf 0engur|n|---|||||txtccrCalculating Sustainable Non-mineral Balances as Benchmarks for Fiscal Policy : The Case of Botswana /Jens ClausenWashington, D.C. :International Monetary Fund,2008.1 online resource (17 p.)IMF Working PapersIMF working paper ;WP/08/117Description based upon print version of record.1-4519-1431-8 Includes bibliographical references.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. ConclusionsReferencesAssuming 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.IMF Working Papers; Working Paper ;No. 2008/117Fiscal policyBotswanaRevenueBotswanaMacroeconomicsimfPublic FinanceimfNatural ResourcesimfNonrenewable Resources and Conservation: GeneralimfFiscal PolicyimfPersonal Income, Wealth, and Their DistributionsimfAgricultural and Natural Resource EconomicsimfEnvironmental and Ecological Economics: GeneralimfEnvironmental managementimfNon-renewable resourcesimfFiscal policyimfFiscal stanceimfPersonal incomeimfNatural resourcesimfIncomeimfBotswanaEconomic conditions1966-BotswanaimfFiscal policyRevenueMacroeconomicsPublic FinanceNatural ResourcesNonrenewable Resources and Conservation: GeneralFiscal PolicyPersonal Income, Wealth, and Their DistributionsAgricultural and Natural Resource EconomicsEnvironmental and Ecological Economics: GeneralEnvironmental managementNon-renewable resourcesFiscal policyFiscal stancePersonal incomeNatural resourcesIncome339.09689709049Clausen Jens1485210DcWaIMFBOOK9910788238403321Calculating Sustainable Non-mineral Balances as Benchmarks for Fiscal Policy3704213UNINA