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Old Curses, New Approaches? Fiscal Benchmarks for Oil-Producing Countries in Sub-Saharan Africa, Jan-Peter Olters

Abstract
Buoyant oil prices have allowed oil-producing countries in sub-Saharan Africa (SSA OPCs) to increase oil exports and fiscal revenues, providing them with resources necessary to address the pressing social needs. To preclude another boom-bust cycle, this paper advocates the definition of a fiscal benchmark anchored in sustainability grounds, following Leigh- Olters (2006). The difference between current primary deficits and those that could be maintained after oil reserves are exhausted represent an indication of the degree to which fiscal positions will have to be adjusted-either gradually, while the overall balances remain in surplus, or abruptly, once oil revenues begin to dwindle
Table Of Contents
Contents; I. Introduction; A. Old Curses; Figures; 1. SSA OPCs: Development and Governance Indices, 2004-05; B. New Approaches; II. Literature Review; III. A Model of Permanent Income and Habit Formation; A. The Model; B. Background and Underlying Assumptions; 2. SSA OPCs: Oil Production, 1965-2006; Tables; 1. Sub-Saharan Africa: Estimates of Oil and Gas Reserves, 2005; 3. SSA OPCs: Oil and Gas Production, 2001-56; 2. Aggregate SSA OPC Economy: Selected Indicators, 2002-06; 3. SSA OPCs: Selected Macroeconomic Indicators, 2005-06; 4. SSA OPCs: Oil Price Assumptions, 2003-22
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (44 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781462369959

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