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Botswana is typical of the countries that are endowed with abundant natural resources. Although it is commonly accepted that resource-rich economies tend to fail in accelerating growth, Botswana has experienced the most remarkable economic performance in the region. Using the latest...
Persistent link: https://www.econbiz.de/10005263757
Exporters of exhaustible resources have historically exhibited higher income volatility than other economies, suggesting a heightened role for precautionary savings. This paper uses a parameterized small open economy model to quantify the role of precautionary savings in economies with...
Persistent link: https://www.econbiz.de/10012677722
Intro -- Contents -- I. INTRODUCTION -- II. BACKGROUND -- III. THEORETICAL FRAMEWORK -- IV. RESULTS AND SENSITIVITY TESTS -- V. EXTENSIONS -- VI. CONCLUDING REMARKS AND FUTURE RESEARCH AGENDA -- References.
Persistent link: https://www.econbiz.de/10012691163
High natural resource prices in recent years have resulted in sizeable increases in fiscal revenue for many resource-exporting countries in sub-Saharan Africa. However, this revenue source is volatile, and arguably these countries should also rely on other forms of taxation to help fund public...
Persistent link: https://www.econbiz.de/10011142043
This paper takes stock of the economic performance of resource rich countries in the Middle East and North Africa (MENA) over the past forty years. While those countries have maintained high levels of income per capita, they have performed poorly when going beyond the assessment based on...
Persistent link: https://www.econbiz.de/10011242320
Mali’s gold sector is an enclave with weak forward and backward linkages with the rest of the economy. Given the predominance of the fiscal transmission channel, it is important that the design of the mineral tax regime gives the state a fair share of the benefits. Using optimal control...
Persistent link: https://www.econbiz.de/10008542988
Assuming a social welfare function that smoothes expenditure, this paper calculates a sustainability benchmark for the non-mineral balance in Botswana that is based on a notion of a "permanent income" from non-renewable resources. It is derived by constructing a hypothetical annuity from...
Persistent link: https://www.econbiz.de/10005248301
This paper examines the environmental effects of mineral taxes in a framework that recognizes the importance of rates and cumulative externalities and proposes an appropriate corrective tax. It concludes that mineral resources taxation should combine neutral taxes with a dynamic Pigovian type...
Persistent link: https://www.econbiz.de/10005263912
Resource-rich countries face large and persistent shocks, especially coming from volatile commodity prices. Given the severity of the shocks, it would be expected that these countries adopt countercyclical fiscal policies to help shield the domestic economy. Taking advantage of a new dataset...
Persistent link: https://www.econbiz.de/10014408026
The recent development literature stresses that countries that receive large revenues from natural resource endowments typically raise less revenue from domestic taxation, and that this creates governance problems because the lower domestic tax effort reduces the incentive for the public...
Persistent link: https://www.econbiz.de/10012685000