02134cas a2200265 a 4500 AALejournalIMF004411 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451855852 1018-5941 BD-DhAAL BD-DhAAL Bassett, Sheila. Fiscal Policy Sustainability in Oil-Producing Countries / Sheila Bassett, Claire Liuksila, Alejandro Garcia. Washington, D.C. : International Monetary Fund, 1994. 1 online resource (72 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 Assessing the sustainability of a given fiscal policy is especially important for countries that depend on income from exhaustible resources. Political and growth pressures may push governments to raise expenditure when revenue from exhaustible resources rises, but cutting outlays when price swings reduce income is often difficult. Traditional fiscal accounting may give a misleading view of policy sustainability. This paper argues that for countries in which a significant proportion of government revenue is derived from the exploitation of an exhaustible natural resource, fiscal policy sustainability can best be assessed within a permanent income framework that takes into account total government wealth, including the imputed wealth from reserves of natural resources. Using this framework, the paper takes a sample of six countries where government revenue from petroleum extraction is significant and draws conclusions about the sustainability of their fiscal policies during 1980-92. Mode of access: Internet Garcia, Alejandro. Liuksila, Claire. IMF Working Papers; Working Paper ; No. 1994/137 Full text available on IMF http://elibrary.imf.org/view/journals/001/1994/137/001.1994.issue-137-en.xml IMF e-Library