A New Fiscal Framework for Resource-Rich Countries
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Summary:
This paper revisits the debate on the design of fiscal rules in resource-rich countries. Its main objective is to assess alternative systems of rules against their policy objectives, while taking into account country characteristics. One of the contributions of the paper is to propose fiscal frameworks that are centered around the principle of insurance against shocks and less reliant on estimating precisely resource wealth, which tends to be highly volatile.
Series:
Working Paper No. 2023/230
Subject:
Commodity prices Environment Expenditure Fiscal policy Fiscal rules Natural resources Prices
Frequency:
regular
English
Publication Date:
November 3, 2023
ISBN/ISSN:
9798400259609/1018-5941
Stock No:
WPIEA2023230
Format:
Paper
Pages:
68
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