Commodity Price Shocks and Fiscal Outcomes:

The experience of developing countries over 1990-2010 indicates that commodity prices have a significant impact on fiscal outcomes. Both revenue and expenditure rise in response to commodity (import or export) price increases; the response of the fiscal deficit is ambiguous. A floating exchange rate...

Full description

Saved in:
Bibliographic Details
Main Author: Samaké, Issouf (Author)
Format: Electronic eBook
Language:English
Published: Washington, D.C International Monetary Fund 2012
Series:IMF Working Papers Working Paper No. 12/112
Online Access:UBW01
UEI01
LCO01
SBR01
UER01
SBG01
UBG01
FAN01
UBT01
FKE01
UBY01
UBA01
FLA01
UBM01
UPA01
UBR01
FHA01
FNU01
BSB01
TUM01
Volltext
Summary:The experience of developing countries over 1990-2010 indicates that commodity prices have a significant impact on fiscal outcomes. Both revenue and expenditure rise in response to commodity (import or export) price increases; the response of the fiscal deficit is ambiguous. A floating exchange rate regime only partially offsets the impact; foreign-exchange reserves do not dampen the effects. Hence, there is a strong case for fiscal hedging against commodity price shocks. Hedging instruments based on a limited set of benchmark world prices for a narrow set of commodities may suffice to realize most of the potential benefits
Physical Description:1 Online-Ressource (48 p)
ISBN:1475503334
9781475503333

There is no print copy available.

Interlibrary loan Place Request Caution: Not in THWS collection! Get full text