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Budget Revenue Management

In: Economic Dependence of Mongolia on Minerals

Author

Listed:
  • Ragchaasuren Galindev

    (Economic Research Institute)

  • Tuvshintugs Batdelger

    (Economic Research Institute)

  • Esmedekh Lkhanaajav

    (Economic Research Institute)

  • Manlaibaatar Zagdbazar

    (Economic Research Institute)

  • Munkh-Ireedui Batjargal

    (Concordia University)

  • Dulguun Tuvshintugs

    (Economic Research Institute)

  • Oyunzul Tserendorj

    (Economic Research Institute)

  • Nyambaatar Batbayar

    (Concordia University)

  • Delgermaa Begz

    (Economic Research Institute)

  • Ankhbayar Delgerchuluun

    (Economic Research Institute)

Abstract

This chapter discusses the findings of the research carried out in the framework of the Budget Revenue Management project. Revenue Management is about setting up and managing Sovereign Wealth Funds (SWFs). In Mongolia, we have two such funds—the Fiscal Stability Fund (FSF) and the Future Heritage Fund (FHF). The idea of the FSF is that the country saves during good times when the mineral prices relatively high and uses the saving in bad times when the mineral prices are relatively low. In this way, the disposable budget revenue and expenditure would grow in a more stable fashion, which would promote stable economic growth in the long term. The FHF, on the other hand, would allocate the county's mineral wealth across the current and future generations. In addition to reviewing the international and local experiences with SWFs, we discuss the results derived from our computable general equilibrium (CGE) analyses examining the impact of the SWFs for Mongolia in different scenarios.

Suggested Citation

  • Ragchaasuren Galindev & Tuvshintugs Batdelger & Esmedekh Lkhanaajav & Manlaibaatar Zagdbazar & Munkh-Ireedui Batjargal & Dulguun Tuvshintugs & Oyunzul Tserendorj & Nyambaatar Batbayar & Delgermaa Begz, 2022. "Budget Revenue Management," Contributions to Economics, in: Yoshitaka Hosoi & Tuvshintugs Batdelger & Khashchuluun Chuluundorj (ed.), Economic Dependence of Mongolia on Minerals, pages 121-158, Springer.
    • Handle: RePEc:spr:conchp:978-981-19-5515-0_5
    DOI: 10.1007/978-981-19-5515-0_5
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