02058cas a2200265 a 4500 AALejournalIMF006824 230101c9999 xx r poo 0 0eng d 5.00 USD 9781455209514 1018-5941 BD-DhAAL BD-DhAAL Lopez Murphy, Pablo. Riding the Roller Coaster : Fiscal Policies of Nonrenewable Resource Exporters in Latin America and the Caribbean / Pablo Lopez Murphy, Mauricio Villafuerte, Rolando Ossowski. Washington, D.C. : International Monetary Fund, 2010. 1 online resource (45 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 analyzes recent fiscal policies of nonrenewable resource exporting countries in Latin America and the Caribbean in the context of sharp swings in resource prices. Fiscal policies were predominantly procyclical during the boom period 2003-08 but to significantly differing degrees within the sample. Countries that pursued more conservative fiscal policies during the boom were then able to implement countercyclical fiscal policies during the downturn; moreover, they reduced or maintained their fiscal vulnerability to resource shocks, while their long-term fiscal sustainability positions improved or were broadly unchanged. However, these dimensions of fiscal policy did not seem to be linked to fiscal rules or resource funds, as countries with such institutions displayed a broad range of fiscal responses to the recent cycle. Mode of access: Internet Ossowski, Rolando. Villafuerte, Mauricio. IMF Working Papers; Working Paper ; No. 2010/251 Full text available on IMF http://elibrary.imf.org/view/journals/001/2010/251/001.2010.issue-251-en.xml IMF e-Library