Format:
1 Online-Ressource (circa 36 Seiten)
,
Illustrationen
ISBN:
1513530259
,
9781513530253
Series Statement:
IMF working paper WP/15/236
Content:
This paper analyzes the tradeoffs between savings, debt and public investment in the Republic of Congo, a developing country with looming oil exhaustibility concerns. Our results highlight the risks to fiscal and capital sustainability of oil exporting countries from large scaling-up in public investment and oil price volatility in view of a projected decline in the oil revenue to GDP ratio. However, structural reforms that improve the efficiency of public investment can allow for a relatively faster buildup of sustainable public capital and sustain higher non-oil growth without adversely affecting the debt ratio or savings. Moreover, we show that even if a government pursues prudent fiscal policy that preserves resource wealth and debt sustainability in the face of exhaustible and volatile resource revenues, low public investment quality in the form of a misallocation of resources can hinder attainment of sustainable public capital and positive non-oil growth
Additional Edition:
Erscheint auch als Druck-Ausgabe Alter, Adrian Public Investment in a Developing Country Facing Resource Depletion Washington, D.C. : International Monetary Fund, 2015 ISBN 9781513530253
Language:
English
Keywords:
Graue Literatur
DOI:
10.5089/9781513530253.001
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