| Titre : | Buoyant Capital Spending and Worries over Real Appreciation: Cold Facts from Algeria |
| Auteurs : | Kangni Kpodar ; Boileau Loko ; Oumar Diallo |
| Type de document : | Working Paper |
| Editeur : | Clermont-Ferrand : Centre d'études et de recherches sur le développement international (Cerdi), 2008 |
| Collection : | Études et Documents Cerdi, ISSN 2114-7957, num. 04 |
| Format : | 23 p. |
| Langues: | Anglais |
| Catégories : |
[Eurovoc] ÉNERGIE > industrie pétrolière [Eurovoc] FINANCES > budget > dépense budgétaire > dépense publique [Eurovoc] FINANCES > économie monétaire > politique des changes > taux de change [Eurovoc] FINANCES > fiscalité > politique fiscale |
| Tags : | government capital expenditure ; real exchange rate ; oil |
| Résumé : | The Government of Algeria has pursed a relatively expansionary fiscal policy in recent years, thanks to rising oil prices and revenues. The paper explores the potential effects of such a stance on real exchange rate and uncovers a relatively small appreciating effect of increased government capital expenditure. This is explained by the fact that a significant share of capital spending falls into tradable imported goods. However, the envisaged increase in capital spending, if well designed and implemented, might in the long-run translate into rising operations and maintenance expenditure—mostly nontradable goods—thereby causing a higher real appreciation. This implies that Algeria should carefully consider the implications of its public investment program on recurrent expenditure. |
| Axe de recherche : | Financement du développement |
| En ligne : | https://halshs.archives-ouvertes.fr/halshs-00556935 |
Documents numériques (1)
 https://halshs.archives-ouvertes.fr/halshs-00556935/file/2008.04.pdf URL |
