Is Fiscal Policy Procyclical in Developing Oil-Producing Countries?; by Nese Erbil; IMF Working Paper 11/171; July 1, 2011

@inproceedings{Erbil2011IsFP,
  title={Is Fiscal Policy Procyclical in Developing Oil-Producing Countries?; by Nese Erbil; IMF Working Paper 11/171; July 1, 2011},
  author={Nese Erbil and Krishna Srinivasan and Ibrahim Elbadawi and Cemile Sancak and Filiz Unsal and Mitali Das and Thomas F Helbling},
  year={2011}
}
This paper examines the cyclicality of fiscal behavior in 28 developing oil-producing countries (OPCs) during 1990–2009. After testing five fiscal measures—government expenditure, consumption, investment, non-oil revenue, and non-oil primary balance—and correcting for reverse causality between non-oil output and fiscal variables, the results suggest that all of the five fiscal variables are strongly procyclical in the full sample. Also, the results are not uniform across income groups… CONTINUE READING

From This Paper

Figures, tables, and topics from this paper.

Citations

Publications citing this paper.
Showing 1-6 of 6 extracted citations

References

Publications referenced by this paper.
Showing 1-10 of 29 references

Boom-Bust Cycle, Asymmetrical Fiscal Response and the Dutch Disease,‖ IMF Working Papers 10/94

Arezki, Rabah, K. Ismail
2010

The Cyclicality of Fiscal Policy in the Middle East and Central Asia:Is the Current Crisis Different?‖ IMF Working Papers WP/10/68

Abdih, Yasser, P. Lopez-Murphy, A. Roitman, R. Sahay
2010

Cyclical Patterns of Government Expenditures in Sub-Saharan Africa: Facts and Factors,‖ IMF

Lledó, Victor, I. Yackovlev, L. Gadenne
Working Paper No. WP/09/274 • 2009

Managing the oil revenue Boom: The role of Fiscal Instituions,‖ IMF

Ossowski, Rolando, M. Villafuerte, P. Medas, T. Theo
2008

Instrumental variables: Overview and advances,

Baum, Kit
United Kingdom Stata Users’ Group Meetings • 2007