01796cas a2200241 a 4500 AALejournalIMF004240 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451864434 1018-5941 BD-DhAAL BD-DhAAL Segura Vasi, Alonso. Management of Oil Wealth Under the Permanent Income Hypothesis : The Case of Sao Tome and Principe / Alonso Segura Vasi. Washington, D.C. : International Monetary Fund, 2006. 1 online resource (34 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 This paper documents the protracted process of shaping the rules governing oil operations in Sao Tome and Principe. It analyzes the institutional framework for oil sector development, which applies Milton Friedman's permanent income hypothesis to the management of oil resources. Sao Tome and Principe is the first country in Africa to adopt this rule. Finally, the paper offers a preliminary quantitative analysis of the impact of oil sector development on government consumption and savings. It shows that the country's oil wealth could be significant, which would enable sustainable government consumption and intergenerational equity through a gradual buildup of the Permanent Fund for Future Generations. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2006/183 Full text available on IMF http://elibrary.imf.org/view/journals/001/2006/183/001.2006.issue-183-en.xml IMF e-Library