Fiscal Sustainability in Heavily Indebted Countries Dependent on Nonrenewable Resources: The Case of Gabon
| Autor: | Joseph Ntamatungiro |
|---|---|
| Rok vydání: | 2004 |
| Předmět: |
Macroeconomics
Intergenerational equity Per capita Government revenue Economics General Earth and Planetary Sciences Position (finance) National wealth Fiscal sustainability Non-renewable resource Government Policy [Debt Fiscal policy Gabon Oil savings fund intergenerational equity public debt debt reduction government revenue Equity Justice Inequality and Other Normative Criteria and Measurement National Deficit Surplus Nonrenewable Resources and Conservation] General Environmental Science |
| Zdroj: | SSRN Electronic Journal. |
| ISSN: | 1556-5068 |
| DOI: | 10.2139/ssrn.878853 |
| Popis: | This paper proposes a framework for assessing fiscal sustainability in heavily indebted countries dependent on exhaustible resources, with reference to Gabon. It finds that fiscal sustainability could be achieved by: (i) developing a fiscal rule for the non-oil primary fiscal balance compatible with an objective for reducing the debt-to-non-oil GDP ratio; (ii) introducing a constant oil-based income transfer per capita allowing intergenerational equity; and (iii) building up an oil savings fund. Long-term simulations show that Gabon's fiscal position is fragile and that a fiscal policy path consistent with the proposed framework could help achieve comfortable levels of net wealth. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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