Oil-producing countries have benefited from rising oil prices in recent years. The increase in oil exports and oil revenues has had major implications for these countries. These developments have revealed how governments manage their fiscal policies in light of changing oil-market conditions and...

Countries with large oil resources can benefit substantially from them. However, despite their huge natural resources, many oil producers have had disappointing growth, widespread poverty, and continuing vulnerability to oil price and other external shocks. Fiscal policy can play a central role...

Intro -- Contents -- Foreword -- Acknowledgments -- 1 Fiscal Challenges in Oil-Producing Countries: An Overview -- Part I. Determining Fiscal Policy in Oil-Producing Countries -- 2 An Alternative Interpretation of the "Resource Curse": Theory and Policy Implications -- 3 Operational Aspects of...