By Ahmed Mousa Jiyad.
Managing Volatility of Oil Export Revenues
This is part three of a research work commissioned by the Natural Resource Governance Institute (NRGI) (USA) as part of the preparation for NRGI’s strategic plan for interlinked and complementary interventions in Iraq during the upcoming three years.
The Executive Summary of the study was posted on this IBN website and accessible through the following link: http://www.iraq-businessnews.com/2015/05/26/expert-blog-iraqi-extractive-industry/;
Part One was posted on the IBN website and accessible through the following link: http://www.iraq-businessnews.com/2015/06/09/framework-governing-extractive-industries-in-iraq/; and,
Part Two was posted on the IBN website and accessible through the following link: http://www.iraq-businessnews.com/2015/06/29/oil-revenue-distribution-issues-in-iraq/.
This part aims to address the following four questions:
- Does government smooth’s domestic spending of revenues to account for revenue volatility?
- Resource revenue volatility: Is government spending stabilized relative to resource revenues?
- Savings fund: Does government use saving funds efficiently to limit the economic impact of large and volatile resource revenues?
- As a test of its volatility protections, how effectively has the government been able to manage the recent drop in oil prices?
The last part and list of consulted reference will be posted on this website after two weeks.