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Measures of fiscal risk in hydrocarbon-exporting countries /
"The recent relatively high levels of global oil prices have led to a significant improvement in the public finances of several hydrocarbon-exporting countries. However, despite the increase in fiscal buffers, medium-term risks remain high. Fiscal vulnerabilities have increased as a consequence...
| Clasificación: | Libro Electrónico |
|---|---|
| Autores principales: | , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund,
©2012.
|
| Colección: | IMF working paper ;
WP/12/260. |
| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 100 | 1 | |a Cáceres, Carlos, |e author. | |
| 245 | 1 | 0 | |a Measures of fiscal risk in hydrocarbon-exporting countries / |c Carlos Caceres and Leandro Medina. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2012. | ||
| 300 | |a 1 online resource (21 pages) : |b color illustrations | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
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| 490 | 1 | |a IMF working paper ; |v WP/12/260 | |
| 500 | |a Title from PDF title page (IMF Web site, viewed November 20, 2012). | ||
| 500 | |a "Middle East and Central Asia Department"--Page 2 of pdf | ||
| 500 | |a "October 2012"--Page of pdf | ||
| 520 | |a "The recent relatively high levels of global oil prices have led to a significant improvement in the public finances of several hydrocarbon-exporting countries. However, despite the increase in fiscal buffers, medium-term risks remain high. Fiscal vulnerabilities have increased as a consequence of the substantial spending packages that have been implemented in recent years. This has raised break-even prices -that is, the price levels that ensure that fiscal accounts are in balance at a given level of spending - in these countries. This study analyzes such risks and develops measures of fiscal risk stemming from oil price fluctuations. An empirical application to hydrocarbon-exporting countries from the Middle East and North Africa region is included. Additionally, it is noted that countries with large net assets and proven oil reserves are much less vulnerable to fiscal risk than is indicated by standard measures based on break-even prices"--Abstract | ||
| 504 | |a Includes bibliographical references (pages 18-20). | ||
| 588 | 0 | |a Print version record. | |
| 505 | 0 | |a Cover; Abstract; Contents; I. Introduction; Figures; 1. Real Break-Even Prices in Selected Middle East and North African Countries; II. Data and Empirical Methodology; 2. Real Brent Oil Price; III. Main Results and Discussion; 3. Probability that Brent Oil Prices Fall below the Break-Even Price (measure I); 4. Probability that Brent Oil Prices Fall below the Break-Even Price (measure II); IV. Conclusion; Annex I: Summary Tables; Tables; 1. Projected Nominal Break-Even Prices in Selected MENA Oil-Exporting Countries; 2. Projected Real Break-Even Prices in Selected MENA Oil-Exporting Countries. | |
| 505 | 8 | |a 3. Probability that Brent Oil Prices Fall below the Break-Even Price (measure I)4. Probability that Brent Oil Prices Fall below the Break-Even Price (measure II); Annex II: Modeling Oil Prices Using Geometric Brownian Motion; Annex III: Stochastic Simulations; 5. Historic and Simulated Real Price of Brent Oil (in logarithm); References. | |
| 546 | |a English. | ||
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| 700 | 1 | |a Medina, Leandro, |d 1978- |e author. | |
| 710 | 2 | |a International Monetary Fund. |b Middle East and Central Asia Department, |e issuing body. | |
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| 830 | 0 | |a IMF working paper ; |v WP/12/260. | |
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