Managing Commodity Booms--and BustsWorld Bank Publications, 1995 - 22 pages World Bank Discussion Paper No. 314. In 1994, Colombia replaced its state-run, pay-as-you-go pension system with a privately run, fully-funded scheme. This study analyzes prospective fiscal and macroeconomic implications of the reform. It compares the features of the country's old and new pension systems, puts them in a broader international context, and examines the reform transition |
From inside the book
Results 1-5 of 6
Page vii
... external borrowing had risen dramatically even before oil prices began to fall . It was much the same story in Venezuela's and Mexico's handling of their oil booms . Recent research shows that fluctuating GDP and investments are detri ...
... external borrowing had risen dramatically even before oil prices began to fall . It was much the same story in Venezuela's and Mexico's handling of their oil booms . Recent research shows that fluctuating GDP and investments are detri ...
Page ix
... external shocks , making good macro- economic policies especially critical . Countries should follow prudent monetary and fiscal policies , and they could even consider reducing external debt with the proceeds from the boom . In many ...
... external shocks , making good macro- economic policies especially critical . Countries should follow prudent monetary and fiscal policies , and they could even consider reducing external debt with the proceeds from the boom . In many ...
Page 9
... external borrowing had risen dramatically even before oil prices began to fall . It was much the same story in Mexico's and Venezuela's handling of their oil booms . Also , since governments tend to increase their expenditures with the ...
... external borrowing had risen dramatically even before oil prices began to fall . It was much the same story in Mexico's and Venezuela's handling of their oil booms . Also , since governments tend to increase their expenditures with the ...
Page 14
... were high in the late 1980s , accumulated reserves in the fund were used to buy back some of Chile's external debt . LEARNING FROM EXPERIENCE 15 International Coffee Agreement , which used. 14 MANAGING COMMODITY BOOMS - AND BUSTS.
... were high in the late 1980s , accumulated reserves in the fund were used to buy back some of Chile's external debt . LEARNING FROM EXPERIENCE 15 International Coffee Agreement , which used. 14 MANAGING COMMODITY BOOMS - AND BUSTS.
Page 15
... external debt . The net effect was to sterilize about 60 percent of the windfall revenues though external debt repayments and about 20 percent through open - market operations . Only 20 percent of the increased revenues entered the ...
... external debt . The net effect was to sterilize about 60 percent of the windfall revenues though external debt repayments and about 20 percent through open - market operations . Only 20 percent of the increased revenues entered the ...
Other editions - View all
Common terms and phrases
agricultural Analysis Unit boom ends BOOM WON'T CONTINUE booming commodity booming sector booms and busts central bank claimants cocoa cocoa prices coffee boom coffee exporters Colombia Commodity boom bonds Commodity Policy commodity-exporting countries copper prices costs Côte d'Ivoire cotton current US dollars developing countries Dutch disease effects export commodity export revenues export taxes external debt farmers financial markets fiscal policies fluctuations foreign exchange inflows foreign reserves government revenues Groundnut oil import restrictions income International Economics Department investment LEARNING FROM EXPERIENCE manage booms manage commodity ments Metals and minerals monetary base monetary policies nonbooming oil prices options palm oil percent Policy and Analysis policymakers price declines price rises primary commodity prices private sector problems production programs real exchange rate reduced foreign debt Revenue stabilization funds risk management rubber savings in foreign short-term price Sub-Saharan Africa swaps Tanzania trade windfall gains windfall profit tax windfall revenues windfall tax World Bank
Popular passages
Page 7 - Pacific Europe and Central Asia Latin America and the Caribbean Middle East and North Africa...
Page 20 - In the past, many commodity-exporting countries have entered such agreements in an attempt to stabilize and, in many cases, raise prices. In anything but the short term, none has succeeded. References Adams, Robin G. (Resource Strategies, Inc.). 1995. Interview in The Financial Times, March 31 . Bauer, Peter. 1984. "Remembrance of Studies Past: Retracing First Steps.
Page 13 - The decision whether to vacuum pack or gas flush a consumer package depends on a number of factors. Among the most important are the type of product to be packed and its consistency. "Gas flush is a function of the product to be packaged," offers Tom Taylor, product manager, smoked and processed meat, Cryovac.
Page 21 - Kenya, 1975-81." In Tony Killick, ed., The IMF and Stabilization. London: Heinemann.
Page 15 - On the fiscal side, coffee tax revenues were used to turn a deficit of 5.2 percent of GDP in 1984 into a small surplus in 1986.