LEADER 06592oam 22011534 450 001 9910973828803321 005 20250426110835.0 010 $a9786612843860 010 $a9781462395118 010 $a1462395112 010 $a9781452772264 010 $a1452772266 010 $a9781451873214 010 $a1451873212 010 $a9781282843868 010 $a1282843869 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(IMF)WPIEE2009174 035 $a(MiAaPQ)EBC1608403 035 $a(IMF)WPIEA2009174 035 $aWPIEA2009174 035 $a(EXLCZ)993170000000055325 100 $a20020129d2009 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 /$fZaijin Zhan, Robert York 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2009. 215 $a1 online resource (42 p.) 225 1 $aIMF Working Papers 300 $aDescription based upon print version of record. 311 08$a9781451917482 311 08$a1451917481 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 3 $aOver many years rises and fall of world oil prices have been repeatedly reflected in the boom-bust cycles in oil-exporting countries the world over. The recent spectacular rise and equally spectacular fall in prices provides an opportunity to inquire whether anything is different this time. In this paper we limit the analysis to the experience, outlook, and longterm fiscal policy considerations for eight of the world's oil-producing countries in sub- Saharan Africa. Because we are interested in gauging their fiscal vulnerability and sustainability from the angle of managing exhaustible oil wealth, we focus on the non-oil primary balance as the relevant indicator of how initial conditions and resource endowments can influence long-term considerations in several different models of fiscal rules. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2009/174 606 $aFiscal policy$zAfrica, Sub-Saharan 606 $aPetroleum reserves$zAfrica, Sub-Saharan 606 $aBusiness Taxes and Subsidies$2imf 606 $aEnergy: Demand and Supply$2imf 606 $aEnergy: General$2imf 606 $aFiscal Policy$2imf 606 $aFiscal policy$2imf 606 $aFiscal rules$2imf 606 $aFiscal stance$2imf 606 $aInvestment & securities$2imf 606 $aInvestments: Energy$2imf 606 $aMacroeconomics$2imf 606 $aOil prices$2imf 606 $aOil$2imf 606 $aOil, gas and mining taxes$2imf 606 $aPetroleum industry and trade$2imf 606 $aPrices$2imf 606 $aPublic finance & taxation$2imf 606 $aTaxation$2imf 607 $aEquatorial Guinea, Republic of$2imf 615 0$aFiscal policy 615 0$aPetroleum reserves 615 7$aBusiness Taxes and Subsidies 615 7$aEnergy: Demand and Supply 615 7$aEnergy: General 615 7$aFiscal Policy 615 7$aFiscal policy 615 7$aFiscal rules 615 7$aFiscal stance 615 7$aInvestment & securities 615 7$aInvestments: Energy 615 7$aMacroeconomics 615 7$aOil prices 615 7$aOil 615 7$aOil, gas and mining taxes 615 7$aPetroleum industry and trade 615 7$aPrices 615 7$aPublic finance & taxation 615 7$aTaxation 676 $a336 700 $aZhan$b Zaijin$01599358 701 $aYork$b Robert$01092056 712 02$aInternational Monetary Fund. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910973828803321 996 $aFiscal Vulnerability and Sustainability in Oil-Producing Sub-Saharan African Countries$94372409 997 $aUNINA