The Role of Fiscal Institutions in Managing the Oil Revenue Boom

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Natural Resources and Economic Development Economic and Fiscal Studies Fiscal Policies and Political Economy

Abstract

This paper examines the fiscal responses of oil-producing countries (OPCs) to the oil boom through 2005 and the role of special fiscal institutions (SFIs)—oil funds, fiscal rules and fiscal responsibility legislation (FRL), and budgetary oil prices—in fiscal management in OPCs, and draws some general lessons.

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