Ecuador: Fiscal Stabilization Funds and Prospects
Amongst a favorable economic environment, Ecuador's exceptional oil revenues have bolstered fiscal accounts. Several legal changes have created or modified funds or accounts aimed at saving, earmarking, or using oil-related revenues. This paper discusses oil-related fiscal policies, stabilization funds, and options in Ecuador. It reviews existing schemes, describes fiscal trends and underlying vulnerabilities, and offers trends and prospects for the oil-related funds and fiscal accounts. Assessing the weaknesses of the fiscal stabilization framework, it offers suggestions for improving efficiency in the use of exceptional fiscal revenues. It calls for enforceable fiscal responsibility rules, an enhanced accountability for oil revenues and the budget process, market mechanisms to hedge against oil price volatility, and a strengthened planning and prioritization of public investment.
Main Author: | |
---|---|
Other Authors: | |
Format: | Working Papers biblioteca |
Language: | English |
Published: |
Inter-American Development Bank
|
Subjects: | Fiscal Policy, Public Administration, Petroleum, Coal and Natural Gas, E62 - Fiscal Policy, E65 - Studies of Particular Policy Episodes, L71 - Mining Extraction and Refining: Hydrocarbon Fuels, L78 - Government Policy, Q43 - Energy and the Macroeconomy, |
Online Access: | http://dx.doi.org/10.18235/0011387 https://publications.iadb.org/en/ecuador-fiscal-stabilization-funds-and-prospects |
Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
id |
dig-bid-node-11040 |
---|---|
record_format |
koha |
spelling |
dig-bid-node-110402024-05-30T20:30:06ZEcuador: Fiscal Stabilization Funds and Prospects 2008-09-17T00:00:00+0000 http://dx.doi.org/10.18235/0011387 https://publications.iadb.org/en/ecuador-fiscal-stabilization-funds-and-prospects Inter-American Development Bank Fiscal Policy Public Administration Petroleum Coal and Natural Gas E62 - Fiscal Policy E65 - Studies of Particular Policy Episodes L71 - Mining Extraction and Refining: Hydrocarbon Fuels L78 - Government Policy Q43 - Energy and the Macroeconomy Amongst a favorable economic environment, Ecuador's exceptional oil revenues have bolstered fiscal accounts. Several legal changes have created or modified funds or accounts aimed at saving, earmarking, or using oil-related revenues. This paper discusses oil-related fiscal policies, stabilization funds, and options in Ecuador. It reviews existing schemes, describes fiscal trends and underlying vulnerabilities, and offers trends and prospects for the oil-related funds and fiscal accounts. Assessing the weaknesses of the fiscal stabilization framework, it offers suggestions for improving efficiency in the use of exceptional fiscal revenues. It calls for enforceable fiscal responsibility rules, an enhanced accountability for oil revenues and the budget process, market mechanisms to hedge against oil price volatility, and a strengthened planning and prioritization of public investment. Inter-American Development Bank Simón Cueva Armijos Working Papers application/pdf IDB Publications Ecuador en |
institution |
BID |
collection |
DSpace |
country |
Estados Unidos |
countrycode |
US |
component |
Bibliográfico |
access |
En linea |
databasecode |
dig-bid |
tag |
biblioteca |
region |
America del Norte |
libraryname |
Biblioteca Felipe Herrera del BID |
language |
English |
topic |
Fiscal Policy Public Administration Petroleum Coal and Natural Gas E62 - Fiscal Policy E65 - Studies of Particular Policy Episodes L71 - Mining Extraction and Refining: Hydrocarbon Fuels L78 - Government Policy Q43 - Energy and the Macroeconomy Fiscal Policy Public Administration Petroleum Coal and Natural Gas E62 - Fiscal Policy E65 - Studies of Particular Policy Episodes L71 - Mining Extraction and Refining: Hydrocarbon Fuels L78 - Government Policy Q43 - Energy and the Macroeconomy |
spellingShingle |
Fiscal Policy Public Administration Petroleum Coal and Natural Gas E62 - Fiscal Policy E65 - Studies of Particular Policy Episodes L71 - Mining Extraction and Refining: Hydrocarbon Fuels L78 - Government Policy Q43 - Energy and the Macroeconomy Fiscal Policy Public Administration Petroleum Coal and Natural Gas E62 - Fiscal Policy E65 - Studies of Particular Policy Episodes L71 - Mining Extraction and Refining: Hydrocarbon Fuels L78 - Government Policy Q43 - Energy and the Macroeconomy Inter-American Development Bank Ecuador: Fiscal Stabilization Funds and Prospects |
description |
Amongst a favorable economic environment, Ecuador's exceptional oil revenues have bolstered fiscal accounts. Several legal changes have created or modified funds or accounts aimed at saving, earmarking, or using oil-related revenues. This paper discusses oil-related fiscal policies, stabilization funds, and options in Ecuador. It reviews existing schemes, describes fiscal trends and underlying vulnerabilities, and offers trends and prospects for the oil-related funds and fiscal accounts. Assessing the weaknesses of the fiscal stabilization framework, it offers suggestions for improving efficiency in the use of exceptional fiscal revenues. It calls for enforceable fiscal responsibility rules, an enhanced accountability for oil revenues and the budget process, market mechanisms to hedge against oil price volatility, and a strengthened planning and prioritization of public investment. |
author2 |
Simón Cueva Armijos |
author_facet |
Simón Cueva Armijos Inter-American Development Bank |
format |
Working Papers |
topic_facet |
Fiscal Policy Public Administration Petroleum Coal and Natural Gas E62 - Fiscal Policy E65 - Studies of Particular Policy Episodes L71 - Mining Extraction and Refining: Hydrocarbon Fuels L78 - Government Policy Q43 - Energy and the Macroeconomy |
author |
Inter-American Development Bank |
author_sort |
Inter-American Development Bank |
title |
Ecuador: Fiscal Stabilization Funds and Prospects |
title_short |
Ecuador: Fiscal Stabilization Funds and Prospects |
title_full |
Ecuador: Fiscal Stabilization Funds and Prospects |
title_fullStr |
Ecuador: Fiscal Stabilization Funds and Prospects |
title_full_unstemmed |
Ecuador: Fiscal Stabilization Funds and Prospects |
title_sort |
ecuador: fiscal stabilization funds and prospects |
publisher |
Inter-American Development Bank |
url |
http://dx.doi.org/10.18235/0011387 https://publications.iadb.org/en/ecuador-fiscal-stabilization-funds-and-prospects |
work_keys_str_mv |
AT interamericandevelopmentbank ecuadorfiscalstabilizationfundsandprospects |
_version_ |
1809106930982977536 |