04490oam 22011294 450 991081987310332120240410162513.01-4623-3668-X1-4527-1179-81-282-53128-X1-4519-8902-49786613821874(CKB)3360000000443225(EBL)3014392(SSID)ssj0000942109(PQKBManifestationID)11577320(PQKBTitleCode)TC0000942109(PQKBWorkID)10964510(PQKB)10679344(OCoLC)698585654(MiAaPQ)EBC3014392(IMF)WPIEE2006183(EXLCZ)99336000000044322520020129d2006 uf 0engur|n|---|||||txtccrManagement of Oil Wealth Under the Permanent Income Hypothesis : The Case of São Tomé and Príncipe /Alonso Segura Vasi1st ed.Washington, D.C. :International Monetary Fund,2006.1 online resource (34 p.)IMF Working Papers"July 2006".1-4518-6443-4 Includes bibliographical references.""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""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.IMF Working Papers; Working Paper ;No. 2006/183IncomeSao Tome and PrincipeConsumption (Economics)Sao Tome and PrincipeInvestments: EnergyimfMacroeconomicsimfTaxationimfIndustries: EnergyimfEnergy: GeneralimfBusiness Taxes and SubsidiesimfMacroeconomics: ProductionimfEnergy: Demand and SupplyimfPricesimfMacroeconomics: ConsumptionimfSavingimfWealthimfInvestment & securitiesimfPublic finance & taxationimfPetroleum, oil & gas industriesimfOilimfOil, gas and mining taxesimfOil productionimfOil pricesimfGovernment consumptionimfPetroleum industry and tradeimfConsumptionimfEconomicsimfSão Tomé and Príncipe, Democratic Republic ofimfIncomeConsumption (Economics)Investments: EnergyMacroeconomicsTaxationIndustries: EnergyEnergy: GeneralBusiness Taxes and SubsidiesMacroeconomics: ProductionEnergy: Demand and SupplyPricesMacroeconomics: ConsumptionSavingWealthInvestment & securitiesPublic finance & taxationPetroleum, oil & gas industriesOilOil, gas and mining taxesOil productionOil pricesGovernment consumptionPetroleum industry and tradeConsumptionEconomicsSegura Vasi Alonso1632000DcWaIMFBOOK9910819873103321Management of Oil Wealth Under the Permanent Income Hypothesis3970896UNINA