Publications

Resource-rich developing countries (RRDCs) face the challenges of transforming resource wealth into other assets that support sustained development, while also maintaining mechanisms to avoid the boom- bust cycles that stem from volatility in natural resource revenues. Their distinct characteristics—low per capita incomes, scarcity of domestic capital, and limited access to international capital markets—make advice based on traditional consumption-savings/investment theories inadequate. The objective of this paper is to develop new macrofiscal frameworks and policy analysis tools for RRDCs that could enhance Fund policy advice.