Natural Resource Revenue Management Strategies in Developing Countries: A Calibrated Macroeconomic Model for Uganda

Fakhri Hasanov, Fred Joutz and Baltasar Manzano

Discussion Papers from King Abdullah Petroleum Studies and Research Center

Abstract: Recent natural resource discoveries in Eastern Africa provide an opportunity to boost economic development. However, this opportunity brings with it potential challenges in the form of ‘Dutch disease’ and, potentially, the ‘resource curse’. A companion paper to this report: Managing Macroeconomic Risks Arising from Natural Resource Revenues in Developing Countries: A review of the Challenges for East Africa sets out the current state of thinking on the issues of Dutch disease, resource curse, the applicability of the permanent income hypothesis (PIH) in populous, developing economies and the impact of absorptive capacity constraints.

Keywords: Dynamic Stochastic General Equilibrium Model (DSGE); Economic Development; Economic Modeling; Natural Resource Discovery; Natural Resources Revenue; Oil; Policy Development; Welfare Implilcations (search for similar items in EconPapers)
Pages: 28
Date: 2015-12-24
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