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
Resource Information
The item Investing volatile oil revenues in capital-scarce economies : an application to Angola, prepared by Christine J. Richmond, Irene Yackovlev and Shu-Chun S. Yang represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in University of San Diego Libraries.This item is available to borrow from 1 library branch.
Resource Information
The item Investing volatile oil revenues in capital-scarce economies : an application to Angola, prepared by Christine J. Richmond, Irene Yackovlev and Shu-Chun S. Yang represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in University of San Diego Libraries.
This item is available to borrow from 1 library branch.
- 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
- Language
- eng
- Extent
- 1 online resource (33 pages)
- 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
- Isbn
- 9781484313589
- 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
- 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
- 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
- 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
- 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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<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.sandiego.edu/portal/Investing-volatile-oil-revenues-in-capital-scarce/UXFOwhHu-rQ/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.sandiego.edu/portal/Investing-volatile-oil-revenues-in-capital-scarce/UXFOwhHu-rQ/">Investing volatile oil revenues in capital-scarce economies : an application to Angola, prepared by Christine J. Richmond, Irene Yackovlev and Shu-Chun S. Yang</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.sandiego.edu/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.sandiego.edu/">University of San Diego Libraries</a></span></span></span></span></div>
