01729cas a2200253 a 4500 AALejournalIMF016826 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484379929 1018-5941 BD-DhAAL BD-DhAAL Behar, Alberto. External Adjustment in Oil Exporters : The Role of Fiscal Policy and the Exchange Rate / Alberto Behar, Armand Fouejieu. Washington, D.C. : International Monetary Fund, 2016. 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 After the decline in oil prices, many oil exporters face the need to improve their external balances. Special characteristics of oil exporters make the exchange rate an ineffective instrument for this purpose and give fiscal policy a sizeable role. These conclusions are supported by regression analysis of the determinants of the current account balance and of the trade balance. The results show little or no relationship with the exchange rate and, especially for the less diversified oil exporters (including the Gulf Cooperation Council), a strong relationship with the fiscal balance or government spending. Mode of access: Internet Fouejieu, Armand. IMF Working Papers; Working Paper ; No. 2016/107 Full text available on IMF http://elibrary.imf.org/view/journals/001/2016/107/001.2016.issue-107-en.xml IMF e-Library