TY  - BOOK
AU  - Baunsgaard,Thomas
TI  - Fiscal Policy in Nigeria: Any Role for Rules? 
T2  - IMF Working Papers; Working Paper
SN  - 1451857330 :
SN  - 1018-5941
PY  - 2003///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Exhaustible Resources and Economic Development
KW  - imf
KW  - Expenditure
KW  - Fiscal Policy Rules
KW  - Fiscal Rule
KW  - Fiscal Rules
KW  - Nonrenewable Resources and Conservation: Government Policy
KW  - Nigeria
N2  - Fiscal policy in oil-producing countries can be profoundly affected by oil revenue uncertainty and volatility. Policy formulation should factor in the exhaustibility of the natural resources and aim at reducing oil revenue volatility passed on to the economy. Past fiscal policy in Nigeria has not been successful in this regard, since both revenue and expenditure have been highly volatile, to a large extent reflecting oil price developments. The paper discusses the role an appropriately designed fiscal rule, nested within the long-run sustainable use of oil revenue, could have in providing a more stable framework for fiscal policy formulation. It also highlights practical implementation and transitional issues
UR  - http://elibrary.imf.org/view/IMF001/02514-9781451857337/02514-9781451857337/02514-9781451857337.xml
UR  - http://www.imfbookstore.org/IMFORG/9781451857337
ER  -