LEADER 04936nam 2200649Ia 450 001 9910464008703321 005 20170815101949.0 010 $a1-4623-9511-2 010 $a1-4527-7226-6 010 $a9786612843860 010 $a1-4518-7321-2 010 $a1-282-84386-9 035 $a(CKB)3170000000055325 035 $a(EBL)1608403 035 $a(SSID)ssj0000940832 035 $a(PQKBManifestationID)11547860 035 $a(PQKBTitleCode)TC0000940832 035 $a(PQKBWorkID)10955965 035 $a(PQKB)11279828 035 $a(OCoLC)649055137 035 $a(MiAaPQ)EBC1608403 035 $a(EXLCZ)993170000000055325 100 $a20100902d2009 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aFiscal vulnerability and sustainability in oil-producing Sub-Saharan African countries$b[electronic resource] /$fRobert York and Zaijin Zhan 210 $a[Washington, D.C.] $cInternational Monetary Fund$d2009 215 $a1 online resource (42 p.) 225 1 $aIMF working paper ;$vWP/09/174 300 $aDescription based upon print version of record. 311 $a1-4519-1748-1 320 $aIncludes bibliographical references. 327 $aContents; I. Introduction; II. Background; A Oil Resources; Tables; 1. Oil Production, 2007-09; Figures; 1. Proven Oil Reserves, 2009; 2. Oil Production Projections, 2005-48; B. Oil Dependence; 2. Real GDP Growth, 2005-08; III. Recent Fiscal Developments and Prospects; A History Repeats Itself; 3. Nominal and Real Crude Oil (Spot) Prices, 1970-2014; 3. Size of the Oil Sector, 2006-08; 4. Correlation Between World Oil Prices and Government Spending, 1970-2008; 4. Change in Revenue and Government Spending, 2006-08; 5. Non-oil Primary Balances, 2006-08 327 $a6. Quality of Public Sector Management and Institutions, 2005-077. Selected Indicators of Institutional Quality, 2000 and 2007; Boxes; 1. Special Fiscal Institutions for the Management of Oil Revenue; 2. Oil Funds-Selected Examples; 8. Medium-Term Fiscal Strategies; B Medium-Term Projections and Vulnerability; 3. Fiscal Policy in Sub-Saharan Africa and the Global Economic Crisis; 5. Deteriorating Economic Outlook, 2009-13; 9. Deterioration in the Economic Outlook, 2009-13; 6. Fiscal Sustainability Ratios, 2008 vs. 2011; IV. Some Fiscal Rules for Sustainability 327 $a7. Vulnerability and Fiscal Adjustment, 2008-09A Underlying Assumptions; 8. Oil Price Assumptions, 2005-48; 10. Estimates of Proven Oil Reserves, 2008-09; V. Estimates of Long-Term Fiscal Sustainability; A. Baseline Results; 11. Long-Term Macroeconomic Assumptions; 9. Average Sustainable Non-Oil Primary Deficit Under Different Fiscal Rules, 2009-48; 10. Average Sustainable Non-Oil Primary Deficit Under Different Fiscal Rules, 2009-13; 11. Unweighted-average Sustainable Non-Oil Primary Deficit Under Different Fiscal Rules, Selected Periods 327 $a4. Nigeria: Fiscal Sustainability Under a Wider Resource BaseB. Sensitivity Analysis; 12. Sensitivity of the Sustainable Non-oil Primary Deficit to Oil Prices Under a Permanent Income Hypothesis, 2009-48; 13. Sensitivity of the Sustainable Non-oil Primary Deficit to Real Interest Rates Under a Permanent Income Hypothesis, 2009-48; 14. Unweighted-average Sustainable Non-Oil Primary Deficit Under Different Fiscal Rules and Real Interest Rates, 2009-48; C. The Impact of Oil Price Uncertainty; 12. Republic of Congo: Simulation Parameters with Oil Price Uncertainty 327 $a15. Republic of Congo: Sustainable Non-Oil Primary Deficit Under Oil Price Uncertainty, 2009-48VI. Summary and Policy Implications; References 330 $aOver many years rises and fall of world oil prices have been repeatedly reflected in the boom-bust cycles in oil-exporting countries the world over. The recent spectacular rise and equally spectacular fall in prices provides an opportunity to inquire whether anything is different this time. In this paper we limit the analysis to the experience, outlook, and longterm fiscal policy considerations for eight of the world's oil-producing countries in sub- Saharan Africa. Because we are interested in gauging their fiscal vulnerability and sustainability from the angle of managing exhaustible oil wea 410 0$aIMF working paper ;$vWP/09/174. 606 $aFiscal policy$zAfrica, Sub-Saharan 606 $aPetroleum reserves$zAfrica, Sub-Saharan 608 $aElectronic books. 615 0$aFiscal policy 615 0$aPetroleum reserves 700 $aYork$b Robert$0862012 701 $aZhan$b Zaijin$0862013 712 02$aInternational Monetary Fund. 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910464008703321 996 $aFiscal vulnerability and sustainability in oil-producing Sub-Saharan African countries$91924033 997 $aUNINA