| Description |
1 online resource (32 pages) : color illustrations |
| Series |
IMF working paper ; WP/13/79 |
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IMF working paper ; WP/13/79.
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| Contents |
Cover; Contents; I. Introduction; Figures; 1. Hydrocarbons and the Economy; II. Measuring the Fiscal Stance; 2. Nonhydrocarbon Output Gap; III. Assessing Fiscal Sustainability; 3. Fiscal Policy Stance; 4. Nonhydrocarbon Balance and Wealth Accumulation; 5. Nonhydrocarbon Primary Deficit Projections under PIH; IV. Building a Rule-based Fiscal Framework; Table; 1. Sustainable Overall Public Expenditure Envelop Scenarios; 6. Tradeoff between Alternative Fiscal Rules; Boxes; 1. Analytical Definitions of Simulated Fiscal Rules; 7. Stochastic Simulations of Alternative Fiscal Rules |
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2. Examples of Fiscal Rules in commodity-Exporting CountriesV. Conclusion; 3. Reforming the PFM Framework; References |
| Summary |
"Libya is highly dependent on exhaustible and volatile hydrocarbon resources, which constitute the bulk of government revenues. Although resource wealth provides the means to promote socio-economic development, procyclical fiscal policies threaten macroeconomic stability as well as fiscal sustainability and intergenerational equity. In three parts, this paper provides an assessment of the cyclically adjusted fiscal stance, analyzes fiscal sustainability according the permanent income framework, and simulates various fiscal policy rules with the objective of developing a rule-based fiscal strategy that would delink the economy from oil price fluctuations, improve the management of resource wealth, and safeguard macroeconomic stability"--Abstract |
| Notes |
Title from PDF title page (IMF Web site, viewed Apr. 2, 2013) |
|
"Middle East and Central Asia Department"--Page 2 of pdf |
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"March 2013"--Page 2 of pdf |
| Bibliography |
Includes bibliographical references (pages 29-31) |
| Subject |
Fiscal policy -- Libya
|
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Fiscal policy -- Libya -- Evaluation
|
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Petroleum products -- Prices -- Libya
|
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Business cycles -- Libya
|
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Business cycles
|
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Fiscal policy
|
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Fiscal policy -- Evaluation
|
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Petroleum products -- Prices
|
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Libya
|
| Form |
Electronic book
|
| Author |
Cáceres, Carlos, author
|
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International Monetary Fund. Middle East and Central Asia Department, issuing body.
|
| ISBN |
1484309839 |
|
9781484309834 |
|
9781484389812 |
|
1484389816 |
|
