Abstract

http://ssrn.com/abstract=1768571
 
 

References (5)



 


 



Stabilization and Savings Funds to Manage Natural Resource Revenues: Kazakhstan and Azerbaijan Versus Norway


Matthias Luecke


The Kiel Institute for the World Economy; CASE - Center for Social and Economic Research


Comparative Economic Studies, Vol. 53, No. 1, pp. 35-56, 2011

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.

Number of Pages in PDF File: 22

Accepted Paper Series


Date posted: February 28, 2011  

Suggested Citation

Luecke, Matthias, Stabilization and Savings Funds to Manage Natural Resource Revenues: Kazakhstan and Azerbaijan Versus Norway. Comparative Economic Studies, Vol. 53, No. 1, pp. 35-56, 2011. Available at SSRN: http://ssrn.com/abstract=1768571 or http://dx.doi.org/10.1057/ces.2010.28

Contact Information

Matthias Lücke (Contact Author)
The Kiel Institute for the World Economy ( email )
P.O.Box 4309
Kiel, D-24100
Germany
+49-431-8814-497 (Phone)
HOME PAGE: http://www.ifw-members.ifw-kiel.de/Members/matthias_luecke_ifw_kiel_de/matthias_luecke_ifw_kiel_de/v
CASE - Center for Social and Economic Research ( email )
Sienkiewicza 12
Warsaw, 00-010
Poland
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