Fiscal Management in Resource-Rich Countries : Essentials for Economists, Public Finance Professionals, and Policy Makers

The extractive industries (EI) sector occupies an outsize space in the economies of many developing countries. Policy makers, economists, and public finance professionals working in such countries are frequently confronted with issues that require an in-depth understanding of the sector, its economi...

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Main Authors:	Ossowski, Rolando, Halland, Havard
Format:	Book
Language:	English en_US
Published:	Washington, DC: World Bank 2016
Subjects:	OIL MINING PETROLEUM EXTRACTIVE INDUSTRIES FISCAL MANAGEMENT PFM EXTRACTIVES RESOURCE-RICH PUBLIC FINANCIAL MANAGEMENT MINERALS NATURAL RESOURCE ECONOMICS FISCAL
Online Access:	http://hdl.handle.net/10986/24577

id	okr-10986-24577
recordtype	oai_dc
spelling	okr-10986-245772021-04-23T14:04:22Z Fiscal Management in Resource-Rich Countries : Essentials for Economists, Public Finance Professionals, and Policy Makers Ossowski, Rolando Halland, Havard OIL MINING PETROLEUM EXTRACTIVE INDUSTRIES FISCAL MANAGEMENT PFM EXTRACTIVES RESOURCE-RICH PUBLIC FINANCIAL MANAGEMENT MINERALS NATURAL RESOURCE ECONOMICS FISCAL The extractive industries (EI) sector occupies an outsize space in the economies of many developing countries. Policy makers, economists, and public finance professionals working in such countries are frequently confronted with issues that require an in-depth understanding of the sector, its economics, governance, and policy challenges, as well as the implications of natural resource wealth for fiscal and public financial management. The objective of the two-volume Essentials for Economists, Public Finance Professionals, and Policy Makers, published in the World Bank Studies series, is to provide a concise overview of the EI-related topics these professionals are likely to encounter. This second volume, Fiscal Management in Resource-Rich Countries, addresses critical fiscal challenges typically associated with large revenue flows from the EI sector. The volume discusses fiscal policy across four related dimensions: short-run stabilization, the management of fiscal risks and vulnerabilities, the promotion of long-term sustainability, and the importance of good public financial management and public investment management systems. The volume subsequently examines several institutional mechanisms used to aid fiscal management, including medium-term expenditure frameworks, resource funds, fiscal rules, and fiscal councils. The volume also discusses the earmarking of revenue, resource revenue projections as applied to the government budget, and fiscal transparency, and outlines several fiscal indicators used to assess the fiscal stance of resource-rich countries. The authors hope that economists, public finance professionals, and policy makers working in resource-rich countries—including decision makers in ministries of finance, international organizations, and other relevant entities—will find the volume useful to their understanding and analysis of fiscal management in resource-rich countries. 2016-06-21T20:30:18Z 2016-06-21T20:30:18Z 2016-06-21 Book 978-1-4648-0495-3 http://hdl.handle.net/10986/24577 English en_US World Bank Studies; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC: World Bank Publications & Research Publications & Research :: Publication
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	OIL MINING PETROLEUM EXTRACTIVE INDUSTRIES FISCAL MANAGEMENT PFM EXTRACTIVES RESOURCE-RICH PUBLIC FINANCIAL MANAGEMENT MINERALS NATURAL RESOURCE ECONOMICS FISCAL
spellingShingle	OIL MINING PETROLEUM EXTRACTIVE INDUSTRIES FISCAL MANAGEMENT PFM EXTRACTIVES RESOURCE-RICH PUBLIC FINANCIAL MANAGEMENT MINERALS NATURAL RESOURCE ECONOMICS FISCAL Ossowski, Rolando Halland, Havard Fiscal Management in Resource-Rich Countries : Essentials for Economists, Public Finance Professionals, and Policy Makers
relation	World Bank Studies;
description	The extractive industries (EI) sector occupies an outsize space in the economies of many developing countries. Policy makers, economists, and public finance professionals working in such countries are frequently confronted with issues that require an in-depth understanding of the sector, its economics, governance, and policy challenges, as well as the implications of natural resource wealth for fiscal and public financial management. The objective of the two-volume Essentials for Economists, Public Finance Professionals, and Policy Makers, published in the World Bank Studies series, is to provide a concise overview of the EI-related topics these professionals are likely to encounter. This second volume, Fiscal Management in Resource-Rich Countries, addresses critical fiscal challenges typically associated with large revenue flows from the EI sector. The volume discusses fiscal policy across four related dimensions: short-run stabilization, the management of fiscal risks and vulnerabilities, the promotion of long-term sustainability, and the importance of good public financial management and public investment management systems. The volume subsequently examines several institutional mechanisms used to aid fiscal management, including medium-term expenditure frameworks, resource funds, fiscal rules, and fiscal councils. The volume also discusses the earmarking of revenue, resource revenue projections as applied to the government budget, and fiscal transparency, and outlines several fiscal indicators used to assess the fiscal stance of resource-rich countries. The authors hope that economists, public finance professionals, and policy makers working in resource-rich countries—including decision makers in ministries of finance, international organizations, and other relevant entities—will find the volume useful to their understanding and analysis of fiscal management in resource-rich countries.
format	Book
author	Ossowski, Rolando Halland, Havard
author_facet	Ossowski, Rolando Halland, Havard
author_sort	Ossowski, Rolando
title	Fiscal Management in Resource-Rich Countries : Essentials for Economists, Public Finance Professionals, and Policy Makers
title_short	Fiscal Management in Resource-Rich Countries : Essentials for Economists, Public Finance Professionals, and Policy Makers
title_full	Fiscal Management in Resource-Rich Countries : Essentials for Economists, Public Finance Professionals, and Policy Makers
title_fullStr	Fiscal Management in Resource-Rich Countries : Essentials for Economists, Public Finance Professionals, and Policy Makers
title_full_unstemmed	Fiscal Management in Resource-Rich Countries : Essentials for Economists, Public Finance Professionals, and Policy Makers
title_sort	fiscal management in resource-rich countries : essentials for economists, public finance professionals, and policy makers
publisher	Washington, DC: World Bank
publishDate	2016
url	http://hdl.handle.net/10986/24577
_version_	1764457092059496448

Fiscal Management in Resource-Rich Countries : Essentials for Economists, Public Finance Professionals, and Policy Makers

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