Are Developing Countries Better Off Spending Their Oil Wealth Upfront?

Are Developing Countries Better Off Spending Their Oil Wealth Upfront?
We question the conventional view that it is optimal for government to maintain a stable level of spending out of oil wealth. We compare this conventional policy recommendation with one where government spends all of its oil revenues upfront, at the same rate as oil is extracted. Using a neoclassical growth model with positive external effects... READ MORE...

Publication date: August 2004
ISBN 9781451856217
$15.00

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