Guidelines for exploiting natural resource wealth

Ploeg, Rick van der

doi:10.1093/oxrep/gru008

Cited by 12 publications

(3 citation statements)

References 28 publications

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“…Debt is captured by the ratio of total government gross debt to country population. Furthermore, we employed two variables—oil rent and mineral depletion per capita—to better capture natural resource wealth (Ploeg, 2013). In terms of foreign aid, net official aid received per capita is included.…”

Section: Methodsmentioning

confidence: 99%

Examining the Evolution of Cross-National Fiscal Transparency

Arapis

Reitano

2017

The American Review of Public Administration

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Over the past two decades, global institutions, including the International Monetary Fund and the Organization for Economic CoOperation and Development, have linked fiscal transparency to better governance, improved economic performance, and increased civic participation in government decision making. As a result, scholars and practitioners have attempted to systematically study the factors associated with a country's fiscal transparency. At the international level, extant research employs cross-sectional analysis, which limits an understanding of how fiscal transparency evolves over time. We address this limitation by offering a cross-national longitudinal analysis of the factors associated with fiscal transparency as measured by the open budget index. Our study spans the years 2006 to 2012, using data on political, fiscal, information access, and economic conditions among 59 countries from nearly every part of the world. Using a first-difference panel regression and robust standard errors clustered by country, we found a positive association between economic recessions and fiscal transparency, indicating that fiscal crises may serve as opportunities for furthering transparency efforts. In addition, our study extends empirical documentation on the positive relationship between fiscal imbalance and fiscal transparency from the United States to the international arena, and provides support for a positive association between development aid and fiscal transparency. We also offer evidence for a negative association between democracy and fiscal transparency, which builds upon an emerging area of research suggesting selective release of government information by democratically elected officials.

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Section: Methodsmentioning

confidence: 99%

Examining the Evolution of Cross-National Fiscal Transparency

Arapis

Reitano

2017

The American Review of Public Administration

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“…In this case, the non-resource primary balance as a percentage of non-resource GDP can be an option as a fiscal target to smooth resource earnings and promote intergenerational equity. Consumption from resource revenue should be a fixed proportion of the nation's annuity provided by the natural resource wealth, and it should be consistent with the permanent income hypothesis [60]. Our calibration for PNG indicates that the non-resource primary balance should be close to zero (−0.3% of non-resource GDP) to be consistent with the permanent income hypothesis.…”

Section: Relationship With Revenue Structurementioning

confidence: 52%

Fiscal Rules for Natural Disaster- and Climate Change-Prone Small States

Nakatani

2021

Sustainability

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How should small states formulate a countercyclical fiscal policy to achieve economic stability and fiscal sustainability when they are prone to natural disasters, climate change, commodity price changes, and uncertain donor grants? We study how natural disasters and climate change affect long-term debt dynamics, and we propose cutting-edge fiscal policy rules. We find the primacy of a recurrent expenditure rule based on non-resource and non-grant revenue, interdependently determined by government debt and budget balance targets with expected disaster shocks. This innovative fiscal rule is classified as a natural disaster-resilient fiscal rule, which comprises a plethora of new advantages compared to existing fiscal rules. This new type of fiscal rule can be called as the third-generation fiscal rule. It encompasses natural disasters and climate change, uses budget data only, avoids the need for escape clauses, and operates on a timely basis. Our rule-based fiscal policy framework is practically applicable for many developing countries facing an increasing frequency and impact of devastating natural hazards, and climatic change.

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“…De este modo, estos autores rechazan los argumentos estructurales que aseveran la inevitabilidad de la maldición de los recursos. Por el contrario, una parte de los autores aboga por la implementación de mecanismos sólidos para lograr mejoras de gobernabilidad que eviten resultados negativos dentro de los modelos de desarrollo basado en la explotación de recursos naturales (Brunnschweiler & Bulte, 2008;Van der Ploeg, 2014). Finalmente, destaca también otra corriente del debate que no solo cuestiona la tesis de la maldición de los recursos naturales de una manera más radical sino que incluso sostiene que los recursos naturales representan una bendición para el desarrollo (Menaldo, 2016).…”

Section: Crítica a La Maldición De Recursos Naturalesunclassified

Sociedades rentistas: Claves para entender la crisis venezolana

Peters¹

2019

ERLACS

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Rentier societies: keys to understand the Venezuelan crisis The consequences of natural resource dependency remain a controversial topic in Development Studies. Generally, the debate focuses on the economic and political effects of natural resource-dependency, framing the debate in a curse versus blessing dichotomy. This article presents in the first part a critical reexamination of this debate and introduces the 'rentier society' concept, which includes social and sociocultural issues. Rather than judging these societies based on Eurocentric criteria, the approach aims to understand the particularities of natural-resource dependent societies. In the second part of the article the analytical model will be applied to the case of Venezuela. In this vein, the article offers tools permitting a better understanding of rentier societies in general and the Venezuelan reality in particular.

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Guidelines for exploiting natural resource wealth

Cited by 12 publications

References 28 publications

Examining the Evolution of Cross-National Fiscal Transparency

Examining the Evolution of Cross-National Fiscal Transparency

Fiscal Rules for Natural Disaster- and Climate Change-Prone Small States

Sociedades rentistas: Claves para entender la crisis venezolana

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