Sovereign Wealth Funds’ Role in Russia
AbstractSovereign wealth funds exist in Russia for eight years. The Stabilization Fund was established in 2004 and later divided into the Reserve Fund and the National Wealth Fund. During this period the funds’ assets and functions changed significantly. The paper compares the actual uses of the funds with the stated goals of their creation. We conclude that the original stabilization function was successfully implemented both by the Stabilization Fund and the Reserve Fund though the mechanism of fiscal stabilization was broadened in both cases. The National Wealth Fund, however, did not accumulate long-term savings to support the pension system as was originally intended.
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Bibliographic InfoArticle provided by N.P. Redaktsiya zhurnala "Voprosy Economiki" in its journal Voprosy Economiki.
Volume (Year): 3 (2012)
Issue (Month): ()
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Web page: http://www.vopreco.ru/eng/year.html
sovereign wealth funds; natural resources funds; fiscal policy; fiscal sustainability.;
Find related papers by JEL classification:
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
- H6 - Public Economics - - National Budget, Deficit, and Debt
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