Working paper
Managing resource revenues in developing
- Abstract:
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This paper addresses the efficient management of natural resource revenues in capitalscarce developing economies. We depart from usual prescriptions based on the permanent income hypothesis and argue that capital-scarce countries should prioritise domestic investment. Since revenue streams are highly volatile governments should protect consumption from shocks by increasing it only cautiously. Volatility in domestic investment can be moderated by a buffer of international liquidity, but it is ...
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- Publication status:
- Published
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Bibliographic Details
- Publisher:
- University of Oxford Publisher's website
- Series:
- OxCarre Papers
- Publication date:
- 2009-01-27
- Paper number:
- 15
Item Description
- Keywords:
- Pubs id:
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1144005
- Local pid:
- pubs:1144005
- Deposit date:
- 2020-12-15
Terms of use
- Copyright date:
- 2009
- Rights statement:
- Copyright 2009 The Author(s)
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