A Primer on Fiscal Analysis in Oil-Producing Countries

41 Pages Posted: 23 Mar 2009

See all articles by Daria Zakharova

Daria Zakharova

International Monetary Fund (IMF)

Paulo A. Medas

International Monetary Fund (IMF)

Date Written: March 2009

Abstract

This paper proposes an integrated approach to fiscal policy analysis in oil producing countries (OPCs) geared towards addressing their unique and complex policy challenges. First, an accurate assessment of the fiscal stance in OPCs can be obscured by large and volatile oil revenue flows. Second, uncertain and volatile oil revenue flows can complicate the management of macroeconomic policies in these countries. Third, given the exhaustibility of oil reserves, OPCs need to address longer-term sustainability and intergenerational equity issues. The use of non-oil fiscal indicators, stress tests, medium-term frameworks, and permanent oil income models can greatly aid in addressing these challenges.

Keywords: Working Papers

Suggested Citation

Zakharova, Daria and Medas, Paulo A., A Primer on Fiscal Analysis in Oil-Producing Countries (March 2009). IMF Working Papers, Vol. , pp. 1-39, 2009. Available at SSRN: https://ssrn.com/abstract=1366184

Daria Zakharova (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Paulo A. Medas

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

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