TY - BOOK ID - 11263644 TI - Calculating sustainable non-mineral balances as benchmarks for fiscal policy : the case of Botswana AU - Clausen, Jens R. AU - Caramazza, Francesco. PY - 2008 VL - WP/08/117 SN - 1451914318 1462375987 1282840711 9786612840715 1451869770 145271780X PB - [Washington, District of Columbia] : International Monetary Fund, DB - UniCat KW - Fiscal policy KW - Revenue KW - Botswana KW - Economic conditions KW - Government revenue KW - Public revenue KW - Tax policy KW - Taxation KW - Government policy KW - Finance, Public KW - Economic policy KW - Macroeconomics KW - Public Finance KW - Natural Resources KW - Nonrenewable Resources and Conservation: General KW - Fiscal Policy KW - Personal Income, Wealth, and Their Distributions KW - Agricultural and Natural Resource Economics KW - Environmental and Ecological Economics: General KW - Environmental management KW - Non-renewable resources KW - Fiscal stance KW - Personal income KW - Natural resources KW - Income UR - https://www.unicat.be/uniCat?func=search&query=sysid:11263644 AB - 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 revenues from these resources, which is held constant in terms of GDP. Botswana is an interesting case because current projections suggest that diamond resources could be largely exhausted within a generation. ER -