International reserve flows of OPEC states: a monetary approach
The modern monetary approach is used to analyze the balance-of-payments status and explore their long-term implications for selected nations in the Organization of Petroleum Exporting Countries (OPEC). The monetary approach differs from traditional projections by including incomes, interest rates, and domestic assets to give a broader view for analysis. Money supply in the OPEC states is determined by foreign reserves flowing in conjunction with budget decisions of the government. Equilibrium in the money market has been maintained in recent years by an inflow of foreign reserves to balance the sudden increases in real income due to rising oil prices. A program of rapid development and income growth will require continued reserve inflows. If development programs outpace inflow and budgetary deficits develop, these reserve inflows will slow and possibly reverse. (DCK)
- Research Organization:
- Univ. of Colorado, Boulder
- OSTI ID:
- 7209488
- Journal Information:
- J. Energy Dev.; (United States), Journal Name: J. Energy Dev.; (United States) Vol. 2:2; ISSN JENDD
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
020700 -- Petroleum-- Economics
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
290200* -- Energy Planning & Policy-- Economics & Sociology
BUDGETS
CHARGES
COST
ECONOMIC DEVELOPMENT
ECONOMIC IMPACT
ECONOMIC POLICY
INCOME
INTERNATIONAL ORGANIZATIONS
INVESTMENT
MATHEMATICAL MODELS
OPEC
SOCIAL IMPACT