01752cas a2200241 a 4500 AALejournalIMF002563 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451857337 1018-5941 BD-DhAAL BD-DhAAL Baunsgaard, Thomas. Fiscal Policy in Nigeria : Any Role for Rules? / Thomas Baunsgaard. Washington, D.C. : International Monetary Fund, 2003. 1 online resource (37 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students 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. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2003/155 Full text available on IMF http://elibrary.imf.org/view/journals/001/2003/155/001.2003.issue-155-en.xml IMF e-Library