• Focus Area Energy and Economic Vulnerability Energy and Economic Vulnerability
  • Type Commentary
  • Date 25 April 2021
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Abstract

Since the Great Recession of 2008, oil-exporting countries have had to adjust their fiscal policies to respond to larger oil price variations and increased unpredictability. This commentary provides insights into the relationship between oil prices and fiscal policies in emerging and developing (ED) oil-exporting countries. It also gives an overview of how fiscal rules and sovereign wealth funds (SWFs) can contribute to mitigating fluctuations in oil revenues and stabilizing economies. Last, it discusses the fiscal responses of oil-exporting countries to the COVID-19 crisis.

Authors

Olivier Durand-Lasserve

Fellow Olivier is a research fellow in the Energy Systems and Macroeconomics program. Previously, he was an economist at the Organisation…

Olivier is a research fellow in the Energy Systems and Macroeconomics program. Previously, he was an economist at the Organisation for Economic Co-operation and Development (OECD) and at the International Energy Agency (IEA) in Paris where his activities covered macroeconomic policy analysis and applied general equilibrium modeling. He contributed to various modeling studies on the assessment of the macroeconomic, environmental and distributional consequences of energy and environmental policies. He also worked on the land-water-energy nexus and on the economic consequences of air pollution. Before he joined the OECD, Olivier worked at ENGIE, in Paris, where he developed an in-house modeling framework for quantifying global long-term energy-economy scenarios. While completing his Ph.D., he was a research assistant at the Center for Operations Research and Econometrics (CORE) in Louvain-la-Neuve, Belgium.

Expertise

  • Macroeconomic consquences of energy policies

Publications See all Olivier Durand-Lasserve’s publications

Fatih Karanfil

Principal Fellow Fatih is an economist who is interested in energy and environment. Before joining KAPSARC in December 2017, he was an…

Fatih is an economist who is interested in energy and environment. Before joining KAPSARC in December 2017, he was an Associate Professor of Economics at the University of Paris Nanterre and was a Fellow at EconomiX-CNRS in France. During this period, he conducted research, taught courses in energy economics, environmental economics, and econometrics, and contributed to projects funded by organizations such as the European Renewable Energy Council, the French Energy Council, and Région Île-de-France.

Fatih’s work at KAPSARC mainly focuses on developing economic frameworks to provide insights into energy and economic policymaking in oil-producing countries, particularly Saudi Arabia. His research appears in leading journals in energy economics as well as general-interest economics journals.

He received his Ph.D. in Economics from the University of Paris 1 Panthéon-Sorbonne in 2008. Prior to that, he completed an M.A. in Economic Analysis and Modeling jointly offered by the University of Paris 1 Panthéon-Sorbonne and École Centrale Paris. Fatih also holds an HDR degree, which is a French accreditation to supervise doctoral research.

Expertise

  • Energy Economics
  • Environmental Economics
  • Applied Economics

Publications See all Fatih Karanfil’s publications

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