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Stabilization and savings funds to manage natural resource revenues: Kazakhstan and Azerbaijan versus Norway created by Matthias Luecke,

By: Material type: TextTextSeries: Comparative economic studies ; Volume 53, number 1Hampshire: Palgrave Macmillan, 2011Content type:
  • text
Media type:
  • unmediated
Carrier type:
  • volume
ISSN:
  • 08887233
Subject(s): LOC classification:
  • HB90 COM
Online resources: Abstract: Do the sovereign wealth funds of Kazakhstan and Azerbaijan promote the sustainable use of government oil revenues? We review the operational rules and performance of the two funds and compare them to Norway's Government Pension Fund – Global. The key challenges are to stabilize government expenditures despite volatile resource prices, build up a capital stock to draw on after the resource is depleted, and to save and spend resource revenues transparently. We conclude that the institutional framework of a resource fund may indeed enhance transparency and public scrutiny, limit discretionary control, and sustain public support for long-term savings of resource revenues.
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Holdings
Item type Current library Call number Vol info Copy number Status Notes Date due Barcode
Journal Article Journal Article Main Library - Special Collections HB90 COM (Browse shelf(Opens below)) Vol. 53, no. 1 (pages 35-56) SP11431 Not for loan For in house use

Do the sovereign wealth funds of Kazakhstan and Azerbaijan promote the sustainable use of government oil revenues? We review the operational rules and performance of the two funds and compare them to Norway's Government Pension Fund – Global. The key challenges are to stabilize government expenditures despite volatile resource prices, build up a capital stock to draw on after the resource is depleted, and to save and spend resource revenues transparently. We conclude that the institutional framework of a resource fund may indeed enhance transparency and public scrutiny, limit discretionary control, and sustain public support for long-term savings of resource revenues.

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