LEADER 05917oam 22011894 450 001 9910788338803321 005 20230721045619.0 010 $a1-4623-6788-7 010 $a1-4527-2283-8 010 $a9786612842771 010 $a1-282-84277-3 010 $a1-4518-7203-8 035 $a(CKB)3170000000055226 035 $a(EBL)1608226 035 $a(SSID)ssj0000940025 035 $a(PQKBManifestationID)11576136 035 $a(PQKBTitleCode)TC0000940025 035 $a(PQKBWorkID)10946360 035 $a(PQKB)11148299 035 $a(OCoLC)649710137 035 $a(MiAaPQ)EBC1608226 035 $a(IMF)WPIEE2009056 035 $a(EXLCZ)993170000000055226 100 $a20020129d2009 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 12$aA Primeron Fiscal Analysis in Oil-Producing Countries /$fPaulo Medas, Daria Zakharova 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2009. 215 $a1 online resource (41 p.) 225 1 $aIMF Working Papers 300 $a"March 2009." 311 $a1-4519-1638-8 320 $aIncludes bibliographical references. 327 $aContents; I. Introduction; II. Assessing The Macro-Fiscal Stance; A. A Multiple Indicator Approach; Table; 1. Nigeria: Federal Government Operations; Boxes; 1. Assessing the Direction of Fiscal Policy by Changes in the Non-Oil Primary Balance; Figures; 1. Primary/Non-Oil Primary Balance and Oil Price; 2. Oil Producing Countries: Selected Fiscal Indicators; B. Using the Non-Oil Balance Concept in Practice; 2. Non-oil fiscal indicators in Nigeria and Yemen; 3. Oil Producing Countries: Oil Vs. Non-Oil Revenue; III. Managing Revenue Volatility and Ensuring Macro-Stability 327 $aA. Macro-Fiscal Consequences of Oil Revenue Volatility4. Inflation and Asset Prices in OPCs; B. Managing Oil Revenue Volatility; 3. Impact of Past Oil Booms and Busts on the Economies of Nigeria, Saudi Arabia, and the UAE; 4. Petroleum Product Subsidies in OPC; 5. Nigeria, Saudi Arabia, and the UAE: Selected Economic Indicators; 6. Coverage of Fiscal Statistics in Oil and Non-Oil Producing Countries of the Middle East and Central Asia; IV. Long-Term Sustainability and Uncertainty; A. The Permanent Oil Income Model; 5. Application of POIM to OPC 327 $a7. An Example of a Permanent Oil Income Model versus Bird-in-HandB. Addressing Uncertainty; V. Conclusion; 6. The Role of MTFFs in Managing Oil Revenue Uncertainty; Appendices; I: Approaches to Defining the Non-Oil Balance; II: Special Fiscal Institutions; References 330 3 $aThis paper proposes an integrated approach to fiscal policy analysis in oil producing countries (OPCs) geared towards addressing their unique and complex policy challenges. First, an accurate assessment of the fiscal stance in OPCs can be obscured by large and volatile oil revenue flows. Second, uncertain and volatile oil revenue flows can complicate the management of macroeconomic policies in these countries. Third, given the exhaustibility of oil reserves, OPCs need to address longer-term sustainability and intergenerational equity issues. The use of non-oil fiscal indicators, stress tests, medium-term frameworks, and permanent oil income models can greatly aid in addressing these challenges. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2009/056 606 $aPetroleum industry and trade$xEconomic aspects 606 $aFiscal policy 606 $aPetroleum reserves$xEconomic aspects 606 $aInvestments: Energy$2imf 606 $aMacroeconomics$2imf 606 $aPublic Finance$2imf 606 $aTaxation$2imf 606 $aInstitutions and the Macroeconomy$2imf 606 $aFiscal Policy$2imf 606 $aStructure, Scope, and Performance of Government$2imf 606 $aNational Government Expenditures and Related Policies: General$2imf 606 $aNational Budget, Deficit, and Debt: General$2imf 606 $aBusiness Taxes and Subsidies$2imf 606 $aEnergy: Demand and Supply$2imf 606 $aPrices$2imf 606 $aEnergy: General$2imf 606 $aPublic finance & taxation$2imf 606 $aInvestment & securities$2imf 606 $aOil, gas and mining taxes$2imf 606 $aFiscal stance$2imf 606 $aFiscal policy$2imf 606 $aOil prices$2imf 606 $aOil$2imf 606 $aTaxes$2imf 606 $aCommodities$2imf 606 $aPetroleum industry and trade$2imf 607 $aYemen, Republic of$2imf 615 0$aPetroleum industry and trade$xEconomic aspects. 615 0$aFiscal policy. 615 0$aPetroleum reserves$xEconomic aspects. 615 7$aInvestments: Energy 615 7$aMacroeconomics 615 7$aPublic Finance 615 7$aTaxation 615 7$aInstitutions and the Macroeconomy 615 7$aFiscal Policy 615 7$aStructure, Scope, and Performance of Government 615 7$aNational Government Expenditures and Related Policies: General 615 7$aNational Budget, Deficit, and Debt: General 615 7$aBusiness Taxes and Subsidies 615 7$aEnergy: Demand and Supply 615 7$aPrices 615 7$aEnergy: General 615 7$aPublic finance & taxation 615 7$aInvestment & securities 615 7$aOil, gas and mining taxes 615 7$aFiscal stance 615 7$aFiscal policy 615 7$aOil prices 615 7$aOil 615 7$aTaxes 615 7$aCommodities 615 7$aPetroleum industry and trade 700 $aMedas$b Paulo$01493443 701 $aZakharova$b Daria$01485212 712 02$aInternational Monetary Fund.$bFiscal Affairs Dept. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788338803321 996 $aA Primeron Fiscal Analysis in Oil-Producing Countries$93716439 997 $aUNINA