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

By:

Luecke, Matthias [author]

Material type: Text

TextSeries: Comparative economic studies ; Volume 53, number 1Hampshire: Palgrave Macmillan, 2011Content type:

text

Media type:

unmediated

Carrier type:

volume

ISSN:

08887233

Subject(s):

Stabilization -- Savings Funds -- Natural Resource Revenues -- Kazakhstan and Azerbaijan, Norway

LOC classification:

HB90 COM

Online resources:

Click here to access online

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	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

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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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