Managing the Oil Revenue Boom: The Role of Fiscal Institutions

By Mauricio Villafuerte, Rolando Ossowski, Theo Thomas, Paulo A Medas

April 30, 2008

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Mauricio Villafuerte, Rolando Ossowski, Theo Thomas, and Paulo A Medas. Managing the Oil Revenue Boom: The Role of Fiscal Institutions, (USA: International Monetary Fund, 2008) accessed November 22, 2024

Summary

Oil-producing countries have benefited from rising oil prices in recent years. The increase in oil exports and oil revenues has had major implications for these countries. These developments have revealed how governments manage their fiscal policies in light of changing oil-market conditions and the role of special fiscal institutions (SFIs). In this Occasional Paper, IMF experts examine the fiscal response of oil-producing countries to the recent oil boom and the role of SFIs in fiscal management, they review the experiences of selected countries, and they draw general lessons. In doing so, they link findings on best practice in the design of SFIs with broader fiscal management advice.

Subject: Budget planning and preparation, Commodities, Fiscal policy, Oil, Oil prices, Oil, gas and mining taxes, Prices, Public financial management (PFM), Taxes

Keywords: Budget planning and preparation, Country, Fund, Gas and mining taxes, Global, Oil, Oil export revenue, Oil fund, Oil market condition, Oil prices, Oil-producing country, OP, Price forecast, SFIs, SFIs dummy, Sub-Saharan Africa, Western Hemisphere

Publication Details

Pages:

46
Volume:

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DOI:

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Issue:

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Series:

Occasional Paper No. 2008/003
Stock No:

S260EA
ISBN:

9781589067189
ISSN:

0251-6365

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