Efficiency and Equity Implications of Oil Windfalls in Brazil

Efficiency and Equity Implications of Oil Windfalls in Brazil

Large oil reserves off the coast of Brazil may substantially increase the country s oil revenue in the future. A natural resource "curse" could be the consequence if an appropriate share of the oil revenue is not invested. This issue is a...

Full description

Bibliographic Details
Main Author:	Jorgensen, Ole Hagen
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2013
Subjects:	ACCOUNTING AFFILIATED ORGANIZATIONS AGGREGATE CAPITAL STOCK AGGREGATE CONSUMPTION AGRICULTURE BANK POLICY BUDGET CONSTRAINT CAPITAL ACCUMULATION CAPITAL INVESTMENT CAPITAL INVESTMENTS CAPITAL SAVING CAPITAL SHARE CAPITAL STOCK CAPITAL STOCKS CHECKS CIVIL WAR COMPARATIVE ECONOMICS COMPETITIVENESS CONSOLIDATION CONSUMPTION INCREASES CONSUMPTION LEVELS CORPORATE SAVING CURRENCY CURRENCY OVERVALUATIONS DEBT DEBT MANAGEMENT DEMOGRAPHIC DEPENDENT VARIABLE DEPENDENT VARIABLES DEPRECIATION DEVELOPMENT ECONOMICS DEVELOPMENT PATH DEVELOPMENT POLICY DISCOUNT RATE DISPOSABLE INCOME DISTRIBUTIONAL EFFECTS DUTCH DISEASE ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC POLICY ECONOMIC REFORM ECONOMIC RESEARCH ECONOMIC THEORY EFFICIENT CAPITAL EFFICIENT EQUILIBRIUM EQUILIBRIUM EXCHANGE RATE EXOGENOUS INCOMES EXOGENOUS SHOCKS EXPENDITURE EXPLANATORY VARIABLES FACTORS OF PRODUCTION FERTILITY RATE FERTILITY RATES FISCAL POLICY FOREIGN INVESTMENTS GDP GDP PER CAPITA GENERAL EQUILIBRIUM GENERAL EQUILIBRIUM MODEL GLOBAL INTEGRATION GOVERNMENT ASSET GOVERNMENT BUDGET GOVERNMENT DEBT GOVERNMENT INVESTMENTS GOVERNMENT POLICIES GOVERNMENT POLICY GOVERNMENT REVENUE GOVERNMENT SAVING GOVERNMENT SPENDING GROSS DOMESTIC PRODUCT GROWTH POTENTIAL GROWTH RATE GROWTH RATES HUMAN CAPITAL INCOME INCOME GROWTH INCOME LEVEL INCOME LEVELS INCREASING RETURNS INCREASING RETURNS TO SCALE INSTRUMENT INTEREST RATE INTEREST RATE CHANGES INTEREST RATES INTERNATIONAL BANK INTERNATIONAL TRADE INVESTING INVESTMENT LEVEL INVESTMENT POLICIES INVESTMENT POLICY INVESTMENT PROJECTS INVESTMENT RATE INVESTMENT RATES INVESTMENT RATIO LABOR FORCE LABOR MARKET LIABILITY LIABILITY MANAGEMENT LIFE EXPECTANCY LOSS OF COMPETITIVENESS MACROECONOMIC EFFECTS MACROECONOMIC MODEL MACROECONOMIC VARIABLES MONETARY ECONOMICS NATIONAL INCOME NATURAL CAPITAL NATURAL RESOURCE NATURAL RESOURCES OIL BOOM OIL RESERVES OIL REVENUE OIL REVENUES OPEN ECONOMY OPTIMAL ALLOCATION OPTIMAL CAPITAL STOCK OPTIMAL INVESTMENT OPTIMIZATION OUTPUT OVERLAPPING GENERATIONS MODEL PENSION PENSION CONTRIBUTION PENSION CONTRIBUTIONS PENSION SYSTEM PENSIONS POLICY RESPONSES POLITICAL ECONOMY POLITICAL INSTABILITY POPULATION GROWTH POSITIVE EXTERNALITIES POVERTY REDUCTION PRIVATE CAPITAL PRIVATE INVESTMENT PRIVATE SAVING PRIVATE SAVINGS PRODUCTIVITY GROWTH PROFITABILITY PUBLIC DEBT PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC POLICY PUBLIC SAVING RENT SEEKING REPLACEMENT RATE REPLACEMENT RATES RETIREMENT AGE RETIREMENT SAVINGS RETURN ROBUSTNESS CHECK ROBUSTNESS CHECKS SAVINGS SAVINGS INCREASES SHARE OF INVESTMENT SHARES OF OIL SLOW GROWTH SMALL COUNTRIES SOCIAL PROTECTION STANDARD DEVIATION STANDARD DEVIATIONS STEADY STATE STOCKS SUSTAINABLE DEVELOPMENT TAX TAX INCREASE TAXATION TELECOMMUNICATIONS TERMS OF CAPITAL TRADE PATTERNS UNCERTAINTIES UNCERTAINTY UTILITY FUNCTION WAGES WEALTH WORKERS EXPERIENCE ZERO INVESTMENT
Online Access:	http://documents.worldbank.org/curated/en/2013/09/18222337/efficiency-equity-implications-oil-windfalls-brazil http://hdl.handle.net/10986/15835

Internet

http://documents.worldbank.org/curated/en/2013/09/18222337/efficiency-equity-implications-oil-windfalls-brazil
http://hdl.handle.net/10986/15835