Coverart for item
The Resource Investing volatile oil revenues in capital-scarce economies : an application to Angola, prepared by Christine J. Richmond, Irene Yackovlev and Shu-Chun S. Yang

Investing volatile oil revenues in capital-scarce economies : an application to Angola, prepared by Christine J. Richmond, Irene Yackovlev and Shu-Chun S. Yang

Label
Investing volatile oil revenues in capital-scarce economies : an application to Angola
Title
Investing volatile oil revenues in capital-scarce economies
Title remainder
an application to Angola
Statement of responsibility
prepared by Christine J. Richmond, Irene Yackovlev and Shu-Chun S. Yang
Creator
Contributor
Author
Subject
Genre
Language
eng
Summary
Natural resource revenues are an increasingly important financing source for public investment in many developing economies. Investing volatile resource revenues, however, may subject an economy to macroeconomic instability. This paper applies to Angola the fiscal framework developed in Berg et al. (forthcoming) that incorporates investment inefficiency and absorptive capacity constraints, often encountered in developing countries. The sustainable investing approach, which combines a stable fiscal regime with external savings, can convert resource wealth to development gains while maintaining economic stability. Stochastic simulations demonstrate how the framework can be used to inform allocations between capital spending and external savings when facing uncertain oil revenues. An overly aggressive investment scaling-up path could result in insufficient fiscal buffers when faced with negative oil price shocks. Consequently, investment progress can be interrupted, driving up the capital depreciation rate, undermining economic stability, and lowering the growth benefits of public investment
Member of
Cataloging source
E7B
http://bibfra.me/vocab/lite/collectionName
IMF eLibrary
http://library.link/vocab/creatorName
Richmond, Christine J
Illustrations
illustrations
Index
no index present
Language note
English
LC call number
HG1360
LC item number
.R53 2013 ONLINE
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/relatedWorkOrContributorDate
1971-
http://library.link/vocab/relatedWorkOrContributorName
  • Yackovlev, Irene
  • Yang, Shu-Chun Susan
Series statement
IMF Working Paper
Series volume
WP/13/147
http://library.link/vocab/subjectName
  • Capital investments
  • Petroleum industry and trade
  • Capital investments
  • Petroleum industry and trade
  • Angola
Label
Investing volatile oil revenues in capital-scarce economies : an application to Angola, prepared by Christine J. Richmond, Irene Yackovlev and Shu-Chun S. Yang
Instantiates
Publication
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • Cover; Contents; I. Introduction; II. A Brief Literature Review; III. Model Description; A. Households; B. Firms; C. The Government; D. Fiscal Policy; E. Some Market Clearing Conditions and Identities; IV. Equilibrium, Solution Method, and Calibration; V. Spend-As-You-Go vs. Gradual Scaling-Up; A. Baseline Scenario; B. Alternative Scenario; C. Stabilization Effect of the Gradual Scaling-Up Approach; VI. Determining a Sustainable Investing Path; VII. Conclusion; Tables; 1. Parameter Calibration; 2. Stabilization Effects with Gradual Scaling-up; Figures; 1. Baseline Scenario
  • 2. Alternative Scenario3. Conservative vs. Aggressive Investing Scaling-up I; 4. Conservative vs. Aggressive Investing Scaling-up II; Appendices; I. Implementing the Gradual Scaling-Up Approach; II. Optimality Conditions; References
Control code
857073833
Dimensions
unknown
Extent
1 online resource (33 pages)
Form of item
online
Isbn
9781484313589
Issn
2227-8885
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.5089/9781484395813.001
Other physical details
illustrations
Specific material designation
remote
System control number
(OCoLC)857073833
Label
Investing volatile oil revenues in capital-scarce economies : an application to Angola, prepared by Christine J. Richmond, Irene Yackovlev and Shu-Chun S. Yang
Publication
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • Cover; Contents; I. Introduction; II. A Brief Literature Review; III. Model Description; A. Households; B. Firms; C. The Government; D. Fiscal Policy; E. Some Market Clearing Conditions and Identities; IV. Equilibrium, Solution Method, and Calibration; V. Spend-As-You-Go vs. Gradual Scaling-Up; A. Baseline Scenario; B. Alternative Scenario; C. Stabilization Effect of the Gradual Scaling-Up Approach; VI. Determining a Sustainable Investing Path; VII. Conclusion; Tables; 1. Parameter Calibration; 2. Stabilization Effects with Gradual Scaling-up; Figures; 1. Baseline Scenario
  • 2. Alternative Scenario3. Conservative vs. Aggressive Investing Scaling-up I; 4. Conservative vs. Aggressive Investing Scaling-up II; Appendices; I. Implementing the Gradual Scaling-Up Approach; II. Optimality Conditions; References
Control code
857073833
Dimensions
unknown
Extent
1 online resource (33 pages)
Form of item
online
Isbn
9781484313589
Issn
2227-8885
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.5089/9781484395813.001
Other physical details
illustrations
Specific material designation
remote
System control number
(OCoLC)857073833

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