Calculating Sustainable Non-mineral Balances as Benchmarks for Fiscal Policy : The Case of Botswana.

Assuming a social welfare function that smoothes expenditure, this paper calculates a sustainability benchmark for the non-mineral balance in Botswana that is based on a notion of a "permanent income" from non-renewable resources. It is derived by constructing a hypothetical annuity from r...

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Bibliographic Details
Main Author: Clausen, Jens R.
Format: eBook
Published: Washington : International Monetary Fund, 2008.
Series:IMF Working Papers
Online Access:Click to View
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