Management of oil wealth under the permanent income hypothesis : the case of Sao Tome and Principe / / prepared by Alonso Segura

• Autore: Segura Alonso
• Pubblicazione: [Washington, D.C.], : International Monetary Fund, c2006
• Edizione: 1st ed.
• Descrizione fisica: 1 online resource (34 p.)
• Soggetto topico: Income - Sao Tome and Principe; Consumption (Economics) - Sao Tome and Principe
• Note generali: "July 2006".
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: ""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""
• Sommario/riassunto: 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.
• Titolo autorizzato: Management of oil wealth under the permanent income hypothesis
• ISBN: 1-4623-3668-X; 1-4527-1179-8; 1-282-53128-X; 1-4519-8902-4; 9786613821874
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910819873103321
• Lo trovi qui: Univ. Federico II
• Serie: IMF working paper ; ; WP/06/183.