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|c 5.00 USD
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|z 9781513530253
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Alter, Adrian.
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|a Public Investment in a Developing Country Facing Resource Depletion /
|c Adrian Alter, Matteo Ghilardi, Dalia Hakura.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2015.
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|a 1 online resource (35 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a 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.
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|a Mode of access: Internet
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|a Ghilardi, Matteo.
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|a Hakura, Dalia.
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|a IMF Working Papers; Working Paper ;
|v No. 2015/236
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2015/236/001.2015.issue-236-en.xml
|z IMF e-Library
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