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Nonrenewable natural resources. --- 658.11 --- Nonrenewable natural resources --- Non-renewable natural resources --- Exhaustible resources --- Natural resources, Nonrenewable --- Natural resources --- Kinds and forms of enterprise --- Economic aspects --- 658.11 Kinds and forms of enterprise

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Nonrenewable natural resources --- Mines and mineral resources --- Geology --- Mathematics --- Ressources non-renouvelables --- Ressources minérales --- Géologie --- Périodiques. --- Mathématiques --- Geognosy --- Geoscience --- Non-renewable natural resources --- Exhaustible resources --- Natural resources, Nonrenewable --- Economic aspects --- Mines and mineral resources. --- Nonrenewable natural resources. --- Mathematics. --- Deposits, Mineral --- Mineral deposits --- Mineral resources --- Mines and mining --- Mining --- Geomathematics --- Mathematical geology --- Earth sciences --- Natural history --- Natural resources --- Geology, Economic --- Minerals --- Ressources non renouvelables

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petroleum --- geology --- tectonics --- exploration --- energy --- technology --- Power resources --- Renewable energy sources --- Nonrenewable natural resources --- Ressources énergétiques --- Énergies renouvelables --- Ressources non-renouvelables --- Alternate energy sources --- Alternative energy sources --- Energy sources, Renewable --- Sustainable energy sources --- Renewable natural resources --- Agriculture and energy --- Energy --- Energy resources --- Power supply --- Natural resources --- Energy harvesting --- Energy industries --- Exhaustible resources --- Natural resources, Nonrenewable --- Non-renewable natural resources --- Economic aspects --- Ressources non renouvelables

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This paper analyzes recent fiscal policies of nonrenewable resource exporting countries in Latin America and the Caribbean in the context of sharp swings in resource prices. Fiscal policies were predominantly procyclical during the boom period 2003-08 but to significantly differing degrees within the sample. Countries that pursued more conservative fiscal policies during the boom were then able to implement countercyclical fiscal policies during the downturn; moreover, they reduced or maintained their fiscal vulnerability to resource shocks, while their long-term fiscal sustainability positions improved or were broadly unchanged. However, these dimensions of fiscal policy did not seem to be linked to fiscal rules or resource funds, as countries with such institutions displayed a broad range of fiscal responses to the recent cycle.

Nonrenewable natural resources --- Fiscal policy --- Finance. --- Tax policy --- Taxation --- Economic policy --- Finance, Public --- Non-renewable natural resources --- Exhaustible resources --- Natural resources, Nonrenewable --- Natural resources --- Government policy --- Economic aspects --- Macroeconomics --- Public Finance --- Fiscal Policy --- National Government Expenditures and Related Policies: General --- Public finance & taxation --- Fiscal rules --- Fiscal stance --- Fiscal sustainability --- Expenditure --- Expenditures, Public --- Trinidad and Tobago

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Exporters of exhaustible resources have historically exhibited higher income volatility than other economies, suggesting a heightened role for precautionary savings. This paper uses a parameterized small open economy model to quantify the role of precautionary savings in economies with exhaustible resources, when the only source of uncertainty is the price of the exhaustible resource. Results show that the precautionary motive can generate sizable external sector savings. When aggregated over the sample countries, precautionary savings in 2006 add up to 3.2 percent of GDP. The quantitative importance of the precautionary motive varies considerably across the sample countries and is driven primarily by the weight of exhaustible resource revenues in future income. The parameterized model fares well at capturing current account balances in both cross-section and time-series data.

Business & Economics --- Economic History --- Saving and investment --- Nonrenewable natural resources --- Mathematical models. --- Econometric models. --- Non-renewable natural resources --- Exhaustible resources --- Natural resources, Nonrenewable --- Economic aspects --- Natural resources --- Exports and Imports --- Macroeconomics --- Natural Resources --- Nonrenewable Resources and Conservation: General --- Macroeconomics: Consumption --- Saving --- Wealth --- Current Account Adjustment --- Short-term Capital Movements --- Environmental management --- International economics --- Non-renewable resources --- Precautionary savings --- Current account --- Consumption --- Current account balance --- Balance of payments --- Economics --- Norway