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Extracting Resource Revenue

Finance & Development, 2013-09, Vol.50 (3), p.19

Copyright International Monetary Fund Sep 2013 ;ISSN: 0015-1947 ;EISSN: 1564-5142 ;CODEN: FNDVAM

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  • Title:
    Extracting Resource Revenue
  • Author: Daniel, Philip ; Gupta, Sanjeev ; Mattina, Todd ; Segura-Ubiergo, Alex
  • Subjects: Budgets ; Developing countries ; Fiscal policy ; Human capital ; LDCs ; Mining industry ; Natural resources ; Tax increases ; Volatility
  • Is Part Of: Finance & Development, 2013-09, Vol.50 (3), p.19
  • Description: Being well endowed with resources may be beneficial for a developing country, but an abundance of resources can make it difficult for policymakers to design and implement spending and tax policies. Before making decisions about fiscal policies, a country's authorities should assess the number of years that natural resources can be expected to generate revenues. Calculating a resource horizon for these extractive industries can be difficult, however, because new discoveries can be made and technological changes can affect the market value of natural resources by making them easier to extract or by increasing the portion that can be recovered. Managing resource price volatility is the most important objective of fiscal policy in countries that have long resource horizons and that depend heavily on revenue from those resources. In countries with shorter resource horizons and greater uncertainty about production volumes, an alternative approach to control for resource price volatility is to base the pattern of government expenditures on a target of the fiscal balance that excludes resource revenues.
  • Publisher: Washington: International Monetary Fund
  • Language: English
  • Identifier: ISSN: 0015-1947
    EISSN: 1564-5142
    CODEN: FNDVAM
  • Source: AUTh Library subscriptions: ProQuest Central
    Alma/SFX Local Collection
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