EconPapers    
Economics at your fingertips  
 

Measures of fiscal risk in oil-exporting countries

Carlos Caceres and Leandro Medina ()

Middle East Development Journal, 2015, vol. 7, issue 2, 160-174

Abstract: The recent relatively high levels of global oil prices have led to a significant improvement in the public finances of several oil-exporting countries. However, despite the increase in fiscal buffers, medium-term risks remain high. Fiscal vulnerabilities have increased as a consequence of the substantial spending packages that have been implemented in recent years. This has raised break-even prices – that is, the price levels that ensure that fiscal accounts are in balance at a given level of spending – in these countries. This study analyses such risks and develops measures of fiscal risk stemming from oil price fluctuations. An empirical application to oil-exporting countries from the Middle East and North Africa region is included. Additionally, it is worth noting that countries with large net assets and proven oil reserves are much less vulnerable to fiscal risk than is indicated by standard measures based on break-even prices.

Date: 2015
References: Add references at CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
http://hdl.handle.net/10.1080/17938120.2015.1072700 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:rmdjxx:v:7:y:2015:i:2:p:160-174

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/rmdj20

DOI: 10.1080/17938120.2015.1072700

Access Statistics for this article

Middle East Development Journal is currently edited by Lyn Squire

More articles in Middle East Development Journal from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().

 
Page updated 2021-01-21
Handle: RePEc:taf:rmdjxx:v:7:y:2015:i:2:p:160-174