Resource Rents: When to spend and how to save

Anthony Venables

No 44, OxCarre Working Papers from Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford

Abstract: Countries with substantial revenues from renewable resources face a complex range of revenue management issues. What is the optimal time profile of consumption from the revenue, and how much should be saved? Should saving be invested in foreign funds or in the domestic economy? How does government policy influence the private sector, where sustainable growth in the domestic economy must ultimately be generated? This paper develops the issues in a simple two-period model, and argues that analysis must go well beyond the simple permanent income approach sometimes recommended.

Keywords: Natural resources; revenue management; resource curse; permanent income (search for similar items in EconPapers)
JEL-codes: E2 H0 O11 Q32 (search for similar items in EconPapers)
Date: 2010-05-25
New Economics Papers: this item is included in nep-env
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Citations: View citations in EconPapers (18)

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Related works:
Journal Article: Resource rents; when to spend and how to save (2010)
Working Paper: Resource rents; when to spend and how to save (2010)
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