› › Exogenous Oil Shocks Fiscal Policy And Sector Reallocations In Oil Producing Countries

News Shocks in Open Economies

Author : Mr.Rabah Arezki

Publisher : International Monetary Fund

Page : 54 pages

File Size : 29,85 MB

Release : 2015-09-29

Category : Business & Economics

ISBN : 1513590766

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Book Description

This paper explores the effect of news shocks on the current account and other macroeconomic variables using worldwide giant oil discoveries as a directly observable measure of news shocks about future output ? the delay between a discovery and production is on average 4 to 6 years. We first present a two-sector small open economy model in order to predict the responses of macroeconomic aggregates to news of an oil discovery. We then estimate the effects of giant oil discoveries on a large panel of countries. Our empirical estimates are consistent with the predictions of the model. After an oil discovery, the current account and saving rate decline for the first 5 years and then rise sharply during the ensuing years. Investment rises robustly soon after the news arrives, while GDP does not increase until after 5 years. Employment rates fall slightly for a sustained period of time.



Institutional Design and Capacity to Enhance Effective Governance of Oil and Gas Wealth: The Case of Kurdistan Region

Author : Khazal Abdullah Auzer

Publisher : Springer

Page : 195 pages

File Size : 39,90 MB

Release : 2017-05-15

Category : Business & Economics

ISBN : 9811045186

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Book Description

This book presents a ‘critical reappraisal’ of the resource curse thesis and extends the analysis to consider political and social dimensions, and thus, the importance of structure in the petroleum sector’s governance model. It examines major challenges surrounding the governance of petroleum resources, and the implications for the economic growth and development of hydrocarbon-abundant countries as a result of ineffective economic, political, and social mechanisms. The book subsequently investigates a range of causal factors that may promote or hinder the effective management of oil and gas resources in the Kurdistan Region, which also has implications for the security of the wider region and for global energy security. The book also seeks to arrive at lessons learned and policy guidelines to help inform other new petroleum-exporting countries and regions about how to best manage their newfound wealth.



Economics—Advances in Research and Application: 2013 Edition

Author :

Publisher : ScholarlyEditions

Page : 843 pages

File Size : 43,69 MB

Release : 2013-06-21

Category : Business & Economics

ISBN : 1481687417

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Book Description

Economics—Advances in Research and Application: 2013 Edition is a ScholarlyEditions™ book that delivers timely, authoritative, and comprehensive information about Tariffs. The editors have built Economics—Advances in Research and Application: 2013 Edition on the vast information databases of ScholarlyNews.™ You can expect the information about Tariffs in this book to be deeper than what you can access anywhere else, as well as consistently reliable, authoritative, informed, and relevant. The content of Economics—Advances in Research and Application: 2013 Edition has been produced by the world’s leading scientists, engineers, analysts, research institutions, and companies. All of the content is from peer-reviewed sources, and all of it is written, assembled, and edited by the editors at ScholarlyEditions™ and available exclusively from us. You now have a source you can cite with authority, confidence, and credibility. More information is available at http://www.ScholarlyEditions.com/.



Economic Diversification in Oil-Exporting Arab Countries

Author : International Monetary Fund

Publisher : International Monetary Fund

Page : 41 pages

File Size : 41,50 MB

Release : 2016-04-29

Category : Business & Economics

ISBN : 1498345697

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Book Description

countries face similar challenges to create jobs and foster more inclusive growth. The current environment of likely durable low oil prices has exacerbated these challenges. The non-oil private sector remains relatively small and, consequently, has been only a limited source of growth and employment. Because oil is an exhaustible resource, new sectors need to be developed so they can take over as the oil and gas industry dwindles. Over-reliance on oil also exacerbates macroeconomic volatility. Greater economic diversification would unlock job-creating growth, increase resilience to oil price volatility and improve prospects for future generations. Macro-economic stability and supportive regulatory and institutional frameworks are key prerequisites for economic diversification...



World Development Report 1984

Author : World Bank

Publisher : World Bank Publications

Page : 302 pages

File Size : 44,29 MB

Release : 1984

Category : Capital movements

ISBN : 0195204603

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Book Description

Long-term needs and sustained effort are underlying themes in this year's report. As with most of its predecessors, it is divided into two parts. The first looks at economic performance, past and prospective. The second part is this year devoted to population - the causes and consequences of rapid population growth, its link to development, why it has slowed down in some developing countries. The two parts mirror each other: economic policy and performance in the next decade will matter for population growth in the developing countries for several decades beyond. Population policy and change in the rest of this century will set the terms for the whole of development strategy in the next. In both cases, policy changes will not yield immediate benefits, but delay will reduce the room for maneuver that policy makers will have in years to come.



Oil Windfalls

Author : Alan H. Gelb

Publisher : Oxford University Press

Page : 376 pages

File Size : 15,96 MB

Release : 1988

Category : Business & Economics

ISBN : 9780195207743

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Book Description

This book assesses the full impact of oil windfalls on six developing producer countries - Algeria, Ecuador, Indonesia, Nigeria, Trinidad and Tobago, and Venezuela. This is the first time that the issue has been systematically analysed and related to economics policies and underlying macroeconomic characteristics. The book adopts a broad approach, blending institutional and political aspects with quantitative analysis which includes the results of sophisticated model simulations. It presents new information on how oil discoveries have been used by producer governments, and analyses of the consequences. Finally it concludes that much of the potential benefit to producers has been dissipated, and explains why producers may actually end up worse off despite revenue gains.



Creating Fiscal Space for Poverty Reduction in Ecuador

Author :

Publisher : World Bank Publications

Page : 283 pages

File Size : 44,82 MB

Release : 2005-01-01

Category : Business & Economics

ISBN : 0821362569

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Book Description

This publication reviews Ecuador's fiscal management and public expenditure policies in the context of its development and poverty reduction goals. Findings include that the country's impressive fiscal performance of 2003 is encouraging but fragile, as several structural bottlenecks could impede fiscal discipline and recovery. Reversing poverty trends is critical for the country's stability, and this can only be achieved with well-targeted, effective and efficient pro-poor programmes.



World Economic Outlook, October 2013

Author : International Monetary Fund. Research Dept.

Publisher : International Monetary Fund

Page : 657 pages

File Size : 28,83 MB

Release : 2013-10-08

Category : Business & Economics

ISBN : 1484348834

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Book Description

Global growth is in low gear, and the drivers of activity are changing. These dynamics raise new policy challenges. Advanced economies are growing again but must continue financial sector repair, pursue fiscal consolidation, and spur job growth. Emerging market economies face the dual challenges of slowing growth and tighter global financial conditions. This issue of the World Economic Outlook examines the potential spillovers from these transitions and the appropriate policy responses. Chapter 3 explores how output comovements are influenced by policy and financial shocks, growth surprises, and other linkages. Chapter 4 assesses why certain emerging market economies were able to avoid the classical boom-and-bust cycle in the face of volatile capital flows during the global financial crisis.



Winning the Oil Lottery

Author : Mr.Tiago Cavalcanti

Publisher : International Monetary Fund

Page : 34 pages

File Size : 48,50 MB

Release : 2016-03-14

Category : Business & Economics

ISBN : 1513587757

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Book Description

This paper provides evidence of the causal impact of oil discoveries on development. Novel data on the drilling of 20,000 oil wells in Brazil allows us to exploit a quasi-experiment: Municipalities where oil was discovered constitute the treatment group, while municipalities with drilling but no discovery are the control group. The results show that oil discoveries significantly increase per capita GDP and urbanization. We find positive spillovers to non-oil sectors, specifically, an increase in services GDP which stems from higher output per worker. The results are consistent with greater local demand for non-tradable services driven by highly paid oil workers.