Oil Exporters’ Dilemma: How Much to Save and How Much to Invest
Oil Exporters’ Dilemma: How Much to Save and How Much to Invest / Reda Cherif & Fuad Hasanov, World development, Vol 52, December 2013
http://www.sciencedirect.com/science/article/pii/S0305750X13001617
Authors’s abstract :
Policymakers in oil-exporting countries confront the question of how to allocate oil revenues among consumption, saving, and investment in the face of high income
volatility. We study this allocation problem in a precautionary saving and investment model under uncertainty. Consistent with data in the 2000s, precautionary saving is sizable and the marginal propensity to consume out of permanent shocks is below one, in stark contrast to the predictions of the perfect foresight model. The optimal investment rate is high if productivity in the tradable sector is high enough.
Draft : http://www.imf.org/external/pubs/ft/wp/2012/wp1204.pdf
OpenEdition vous propose de citer ce billet de la manière suivante :
Danièle Revel (30 septembre 2013). Oil Exporters’ Dilemma: How Much to Save and How Much to Invest. Veille énergie climat. Consulté le 13 décembre 2024 à l’adresse https://doi.org/10.58079/oal3
