The resource curse and its implications for fiscal policy
Decision-making criteria in economics. Analysis of the influence of natural resources on the fiscal policy of the state. Characteristics of the budgetary obligations of Russia. Development of mechanisms to compensate for price fluctuations and inflation.
| Рубрика | Финансы, деньги и налоги |
| Вид | статья |
| Язык | английский |
| Дата добавления | 04.05.2022 |
| Размер файла | 1,4 M |
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14. Hamilton, K. and Ley, E. (2011), Sustainable Fiscal Policy for MineralBased Economies. In Beyond the Curse: Policies to Harness the Power of Natural Resources. IMF, pp. 131-148.
15. Sunley, E. M., Baunsgaard, T. and Simard, D. (2002), Revenue from the Oil and Gas Sector: Issues and Country Experience. IMF.
16. Frankel, J. A. (2012), The Natural Resource Curse: A Survey of Diagnoses and Some Prescriptions. Faculty Research Working Paper Series, RWP12-014, Harvard University.
17. Coutinho, L. (2011), The Resource Curse and Fiscal Policy. Cyprus Economic Policy Review, vol. 5, no. 1, pp. 43-70.
18. Asfaha, S. G. (2007), National Revenue Fund. Their efficacy for fiscal stability and inter-generational equity. International Institute for Sustainable Development, Winnipeg, Manitoba.
19. Gylfason, T. (2001), Natural resources, education and economic development. European Economic Review, vol. 45, is. 4-6, pp. 847-859. https://doi.org/10.1016/S0014-2921(01)00127-1.
20. Cockx, L. and Francken, N. (2015), Is there a Natural Resource Curse on Education Spending? Working Paper 2015.02. https://doi.org/10.13140/ RG.2.1.4072.9122.
21. Mehlum, J., Moene, K. and Torvik, R. (2006), Institutions and the resource curse. The Economic Journal, vol. 116, is. 508, pp. 1-20. https://doi.org/10.1111/j.1468-0297.2006.01045.x.
22. Natural Resource Governance Institute (2014), Natural Resource Charter. Second Edition, NRGI.
23. Ploeg, van der F. (2011), Natur.Res.: Curse or Blessing? Journal of Economic Literature, vol. 49, no. 2, pp. 366-420. https://doi.org/10.1257/jel.49.2.366.
24. Nat. Res. Governance Institute (2016), Country Strategy Note: Nigeria. NRGI.
25. Central Bank of Nigeria (2019), available at: https://www.cbn.gov.ng.
26. Open Data for Africa (2019), available at: http://dataportal .opendataforafrica.org.
27. National Resources Governance Institute (2019), available at: http://www.resourcegovernance.org.
28. Transparency International, Corruption Perception Index (2019), available at: https://www.transparency.org/cpi2018.
29. Environmental Performance Index. Yale - Center for Environmental Law and Policy (2019), available at: http://epi.envirocenter.yale.edu/epi-topline.
30. Everhart, S. and Duval-Hernandez, R. (2001), Management of Oil Windfalls in Mexico: Historical Experience and Policy Options for the Future. World Bank Policy Research, Working Paper 2592. https://doi.org/10.1596/1813-9450-2592.
31. Natural Resource Governance Institute (2017), Country Strategy Note: Mexico, NRGI.
32. OECD (2019), available at: http://www.oecd.org.
33. Macrotrends - Research Platform for Long Term Investors (2019), available at: https://www.macrotrends.net.
34. UN, Human Develop. Index (2019), avail. at: http://hdr.undp.org/en/ countries.
35. Lewin, M. (2011), Botswana's Success: Good Governance, Good Policies, and Good Luck, available at: http://siteresources.worldbank.org/ AFRICAEXT/ Resources/Botswana_success.pdf
36. Bank of Botswana (2019), available at: https://www.bankofbotswana.bw.
37. World Bank (2019), available at: http://data.worldbank.org.
38. Goldprice (2019), available at: https://goldprice.org.
Appendix A
Table 5 Economic performance of selected countries
|
Country |
1970-1979 |
1980-1989 |
1990-1999 |
2000-2009 |
2010-2018 |
Current GDP per capita (USD, 2017) |
|
|
Nigeria |
6.67 |
-1.16 |
2.25 |
7.64 |
4.01 |
1968.4 |
|
|
Mexico |
2.48 |
0.17 |
0.49 |
0.02 |
1.67 |
8910.3 |
|
|
Chile |
0.57 |
1.72 |
4.52 |
3.03 |
2.58 |
15346.4 |
|
|
Botswana |
15.51 |
11.41 |
5.35 |
3.45 |
4.87 |
7595.6 |
Source: own calculations using data from World Bank [37], World Development Indicators (2019).
Appendix B
Table 6 Share of natural capital in export and GDP
|
Country |
Trade value of natural resources |
Total export |
Share of resources in export |
Nominal GDP (thousands USD) |
Share of resources in GDP |
|
|
Nigeria |
42 701 824 925 |
44 466 366 757 |
96.03 % |
375 745 487 |
11.36 % |
|
|
Mexico |
22 617 826 177 |
409 451 378 170 |
5.52 % |
1 150 887 823 |
1.97 % |
|
|
Chile |
17 404 251 332 |
69 229 257 332 |
25.14 % |
277 075 944 |
6.28 % |
|
|
Botswana |
5 249 997 694 |
5 898 102 750 |
89.01 % |
17 406 566 |
30.16 % |
Source: own calculations using data from UN Comtrade [8] and World Bank (2019) [37].
Appendix C
Table 7 Nigeria: Diversification of economy (value added in sectors as % of GDP)
|
Sector/year |
2008 |
2009 |
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
2016 |
2017 |
|
|
Agriculture |
25.3 |
26.7 |
23.9 |
22.2 |
21.9 |
20.8 |
20.0 |
20.6 |
21.0 |
20.8 |
|
|
Industry |
24.7 |
21.2 |
25.3 |
28.3 |
27.1 |
25.7 |
24.6 |
20.2 |
18.2 |
22.3 |
|
|
Manufacturing |
8.2 |
7.8 |
6.6 |
7.2 |
7.7 |
8.9 |
9.6 |
9.4 |
8.7 |
8.7 |
|
|
Services |
49.0 |
51.0 |
50.8 |
49.2 |
50.2 |
52.4 |
54.2 |
58.1 |
59.8 |
55.8 |
Source: World Bank [37], World Development Indicators (data for 2018 not available).
Appendix D
Fig. 9. Mexico: Response of the budget to the change in price of gold
Note: data on budget balance in 2017 and 2018 are not available on OECD.
Source: own construction using data on price of gold (Goldprice, 2019) [38] and budget balance (OECD, 2019) [32].
Appendix E
Table 8
Mexico: Diversification of economy (value added in sectors as % of GDP)
|
Sector/year |
2008 |
2009 |
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
2016 |
2017 |
|
|
Agriculture |
3.2 |
3.2 |
3.2 |
3.1 |
3.2 |
3.1 |
3.1 |
3.2 |
3.3 |
3.4 |
|
|
Industry |
34.8 |
31.9 |
32.4 |
33.6 |
33.8 |
31.9 |
31.5 |
30.0 |
29.4 |
30.0 |
|
|
Manufacturing |
15.8 |
15.1 |
15.6 |
15.4 |
16.3 |
15.8 |
15.9 |
17.1 |
16.9 |
17.2 |
|
|
Services |
59.5 |
60.7 |
60.4 |
59.9 |
60.0 |
61.1 |
60.2 |
61.0 |
61.0 |
60.9 |
Source: World Bank [37], World Development Indicators.
Appendix F
Table 9
Chile: Diversification of economy (value added in sectors as % of GDP)
|
Sector/year |
2008 |
2009 |
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
2016 |
2017 |
|
|
Agriculture |
3.7 |
3.7 |
3.6 |
3.7 |
3.3 |
3.4 |
3.9 |
3.8 |
4.0 |
3.8 |
|
|
Industry |
34.2 |
34.4 |
35.7 |
34.7 |
32.5 |
31.2 |
30.8 |
29.7 |
28.9 |
30.0 |
|
|
Manufacturing |
11.1 |
11.2 |
10.8 |
11.0 |
10.8 |
11.1 |
11.1 |
11.6 |
10.8 |
10.2 |
|
|
Services |
53.6 |
54.0 |
52.8 |
53.5 |
55.6 |
56.9 |
56.7 |
57.9 |
58.5 |
57.6 |
Source: World Bank [37], World Development Indicators.
Appendix G
Table 10
Botswana: Diversil ication of economy value added in sectors as % of GDP)
|
Sector/year |
2008 |
2009 |
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
2016 |
2017 |
|
|
Agriculture |
2.5 |
2.8 |
2.5 |
2.5 |
2.7 |
2.3 |
2.1 |
2.2 |
2.0 |
2.0 |
|
|
Industry |
36.5 |
28.2 |
31.9 |
35.0 |
29.7 |
31.5 |
33.1 |
30.0 |
32.1 |
30.3 |
|
|
Manufacturing |
5.7 |
6.3 |
6.4 |
5.8 |
5.9 |
5.8 |
5.3 |
5.8 |
5.2 |
5.1 |
|
|
Services |
50.9 |
57.5 |
55.3 |
52.5 |
57.2 |
56.6 |
55.7 |
57.9 |
56.7 |
58.4 |
Source: World Bank [37], World Development Indicators.
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