Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/269336 
Authors: 
Year of Publication: 
2012
Series/Report no.: 
FERDI Working Paper No. p55
Publisher: 
Fondation pour les études et recherches sur le développement international (FERDI), Clermont-Ferrand
Abstract: 
Many poor countries are now discovering valuable non-renewable natural resources. Unlike most other sources of tax revenue, the government revenues from the depletion of these resources are both unsustainable and volatile. Each of these features implies that the savings rate appropriate for resource revenues should differ from that on other revenues. Further, a discovery is 'news', requiring a transition from a situation which has suddenly become sub-optimal. Such transitions must be expected to generate costs which will themselves affect the optimal savings rate. While the features themselves have long been wellunderstood, the implications for optimal savings behaviour are surprisingly underdeveloped. A fortiori, the implications for the rules which might be the practical embodiment of these analytic underpinnings are also underdeveloped.
JEL: 
C31
C53
O13
Q38
Document Type: 
Working Paper

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