UID:
edocfu_9958236109002883
Format:
1 online resource (55 p.)
ISBN:
1-4983-6096-3
,
1-4755-8698-1
Series Statement:
IMF Working Papers
Content:
Like other fragile sub-Saharan African countries, Côte d’Ivoire, Guinea, Liberia, and Sierra Leone are seeking to harness their natural resource potential in the context of ambitious development strategies. This study investigates options for scaling up public investment and expanding social safety nets in a general equilibrium setting. First, it assesses the macro-fiscal implications of alternative fiscal rules for public investment, and, second, it explicitly accounts for redistribution through direct cash transfers. Results show that a sustainable non-resource deficit target is robust to the high uncertainty of resources output and prices, while delivering growth benefits through higher public investment. The scaling-up magnitudes, however, depend on the size of projected resource revenue and absorptive capacity. Adding a social transfer raises private consumption, suggesting that a fraction of the resource revenue could be used to expand safety nets.
Note:
Description based upon print version of record.
,
Cover; Contents; I. Introduction; Table; 1. Resource-Rich Sub-Saharan African Fragile Countries; II. Key Development Challenges in the MRU Countries; Figures; 1. Income Per Capita Trends in MRU Countries; 2. Social and Infrastructure Indicators in MRU Countries; III. Natural Resource Revenue Projections; 3. Public Investment by Source of Financing, 2003-13; Boxes; 1. Natural Resources Endowments in the MRU Countries; 4. Current Natural Resource Revenue in MRU Countries; 5. The IMF's FARI Model; IV. Fiscal Frameworks for MRU Countries
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6. Natural Resource Revenue Profiles Under Baseline and Optimistic ScenariosV. The DIGNAR Application; A. Model Description; 7. Public Investment Paths Under Alternative Fiscal Rules; B. Fiscal Approaches; 2. Public Investment Efficiency in MRU Countries; C. Simulation Results; 8. Public Investment Scaling Up; 9. Macroeconomic Impact of Social Transfers; 10. Investment Efficiency in the Baseline and Optimistic Scenarios; 11. Adverse Iron-Ore Price Shock; D. General Lessons; VI. Allocating Part of Resource Wealth to Social Protection; 3. The Recent Experience with Social Protection Systems
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VII. ConclusionReferences; Appendixes; 1. Poverty Diagnostics and Safety Nets in the MRU Countries; 2. Fiscal Regimes and Resource Revenue Scenarios; 3. Model Specification, Solution Method, Calibration, and Simulation Results
Additional Edition:
ISBN 1-4983-9257-1
Language:
English
