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Sovereign Wealth Funds’ Role in Russia

Author

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  • E. LEBEDINSKAYA.

Abstract

Sovereign 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.

Suggested Citation

  • E. Lebedinskaya., 2012. "Sovereign Wealth Funds’ Role in Russia," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 3.
  • Handle: RePEc:nos:voprec:2012-03-5
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    Cited by:

    1. Gurvich, E., 2016. "Evolution of Russian Macroeconomic Policy in Three Crises," Journal of the New Economic Association, New Economic Association, vol. 29(1), pages 174-181.

    More about this item

    Keywords

    sovereign wealth funds; natural resources funds; fiscal policy; fiscal sustainability.;

    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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