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Management of Oil Wealth Under the Permanent Income Hypothesis :, The Case of São Tomé and Príncipe, Alonso Segura Vasi

Abstract
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
Table Of Contents
""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""
Language
eng
Literary Form
non fiction
Edition
1st ed.
Note
"July 2006"
Physical Description
1 online resource (34 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781452711799

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