Dutch Disease and Spending Strategies in a Resource-Rich Low-Income Country — The Case of Niger

Go, Delfin S.; Robinson, Sherman; Thierfelder, Karen; Utz, Robert Johann

doi:10.1596/1813-9450-6691

Cited by 14 publications

(10 citation statements)

References 18 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Source: World Bank (2017b) Commodity exporters reliant on exhaustible natural resources (energy, mining and metals) also face the challenge of ensuring intergenerational equity through adequate mechanisms for saving and investing the resource rent for future generations (Hartwick 1977;Khadour 2011). Complex fiscal policy and governance issues may therefore arise from potential trade-offs between supporting short-term macroeconomic stabilization, long-term fiscal and debt sustainability, and intergenerational equity (IMF 2012a, Go et. Al., 2013).…”

Section: Box 1: Features Of a Coherent Fiscal Framework In Resource-rmentioning

confidence: 99%

Fiscal Vulnerabilities in Commodity Exporting Countries and the Role of Fiscal Policy

Richaud¹,

Mendes²,

Ayivodji³

et al. 2019

View full text Add to dashboard Cite

This series is produced by the Macroeconomics, Trade, and Investment (MTI) Global Practice of the World Bank. The papers in this series aim to provide a vehicle for publishing preliminary results on MTI topics to encourage discussion and debate. The findings, interpretations, and conclusions expressed in this paper are entirely those of the author(s) and should not be attributed in any manner to the World Bank, to its affiliated organizations, or to members of its Board of Executive Directors or the countries they represent. Citation and the use of material presented in this series should take into account this provisional character.

show abstract

Section: Box 1: Features Of a Coherent Fiscal Framework In Resource-rmentioning

confidence: 99%

Fiscal Vulnerabilities in Commodity Exporting Countries and the Role of Fiscal Policy

Richaud¹,

Mendes²,

Ayivodji³

et al. 2019

View full text Add to dashboard Cite

show abstract

“…But as φ oil increases, the volatility decreases gradually and eventually (for values of µ higher that 0.3 − 0.39) reaches its minimum and starts increasing due to higher public investment that, again, generates volatility in the economy (Figure 6). The shapes of the loss functions just discussed lead to the observation that when the policy maker is too concerned about macro/fiscal stability and not much about households welfare, the best option available to the policy maker is the very conservative fiscal strategy which consists in saving the resource windfalls and spending only the interest income in order to prevent the economy from the Dutch disease and from a boom-bust cycle due to inefficient spending (see Go et al (2013) and Devarajan et al (2015)). This clearly appears in Figures 8−11 which plot the optimal allocation rule as functions of µ (blue solid lines); all four lost functions recommend setting φ oil = 0 for values of µ lower than 0.3−0.39.…”

Section: Optimal Allocation Of Natural Resource Revenuesmentioning

confidence: 99%

Optimal Allocation of Natural Resource Surpluses in a Dynamic Macroeconomic Framework: A DSGE Analysis with Evidence from Uganda

Zeufack¹,

Kopoin

Nganou³

et al. 2016

View full text Add to dashboard Cite

The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development/World Bank and its affiliated organizations, or those of the Executive Directors of the World Bank or the governments they represent.

show abstract

“…The policy dilemma is that given the pressing current needs in many developing countries (from investment in infrastructure and human capital to alleviation of poverty and food insecurity), there may be good economic and social reasons to utilize the windfall now, instead of trying to smooth the use over time. A more risky policy would be to borrow against the expectation that the windfall continues in the future and to use those loans to expand public expenditures even further: the experience during the commodity boom of the 1970s shows that such an approach tends to end in debt crises and fiscal adjustment, while simulations of possible policy responses during the current boom also indicate that it is a suboptimal policy response (see, for instance, Go et al 2013).…”

Section: Special Fiscal Topics In Agriculture: Commodity Prices and Fiscal Outcomesmentioning

confidence: 99%

Macroeconomics, agriculture, and food security: A guide to policy analysis in developing countries

Institute¹

2015

View full text Add to dashboard Cite

Why write a book on macroeconomic policies and their links to agriculture and food security in developing countries? The food price spikes of the years just prior to 2010 and the economic, political, and social dislocations they generated refocused the attention of policymakers and development practitioners on the agricultural sector and food security concerns. But even without those traumatic events, the importance of agriculture for developing countries—and for an adequate functioning of the world economy— cannot be denied. First, although declining over time, primary agriculture still represents important percentages of developing countries’ overall domestic production, exports, and employment. If agroindustrial, transportation, commercial, and other related activities are also counted, then the economic and social importance of agriculture-based sectors increases significantly. Furthermore, large numbers of the world’s poor still live in rural areas and work in agriculture. Through the links via production, trade, employment, and prices, agricultural production is also crucial for national food security. Second, it has been shown that agriculture in developing countries has important growth and employment multipliers for the rest of the economy, and agriculture seems to have larger positive effects in reducing poverty than growth in other sectors. Third, agriculture is not only important for individual developing countries, but it has global significance, considering the large presence of developing countries in world agricultural production and the increasing participation in international trade of those products (these three points will be covered in greater detail in Chapter 1).Chapter 1 Agriculture, Growth, Poverty, and Food Security 3 Chapter 2 Macroeconomic Policies: Some Definitions and Conceptual Issues 31 Chapter 3 Contextual Factors: Country Heterogeneity and Global Economic Conditions 53 Part 2 MACROECONOMIC DATA, BALANCES, AND ADJUSTMENT PROCESSES Chapter 4 Macroeconomic Data 97 Chapter 5 A Simplified Macroeconomic Framework 133 Chapter 6 Macroeconomic Consistency: Main Macro Balances 155 Chapter 7 Macro Balances in Product, Factor, and Asset Markets 195BookPRIFPRI1; CRP2; A Ensuring Sustainable food production; C Improving markets and trade; F Strengthening institutions and governanceMTID; PIMCGIAR Research Program on Policies, Institutions, and Markets (PIM

show abstract

Dutch Disease and Spending Strategies in a Resource-Rich Low-Income Country — The Case of Niger

Cited by 14 publications

References 18 publications

Fiscal Vulnerabilities in Commodity Exporting Countries and the Role of Fiscal Policy

Fiscal Vulnerabilities in Commodity Exporting Countries and the Role of Fiscal Policy

Optimal Allocation of Natural Resource Surpluses in a Dynamic Macroeconomic Framework: A DSGE Analysis with Evidence from Uganda

Macroeconomics, agriculture, and food security: A guide to policy analysis in developing countries

Contact Info

Product

Resources

About