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Creating a Favourable Deployment Mechanism of Oil and Gas Revenues with Regard to Volatile Oil Prices: The Case of Azerbaijan

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  • Ilkin Sabiroglu

    ()

  • Samad Bashirli

    ()

  • Faiq Qasimli

    ()

Abstract

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Suggested Citation

  • Ilkin Sabiroglu & Samad Bashirli & Faiq Qasimli, 2011. "Creating a Favourable Deployment Mechanism of Oil and Gas Revenues with Regard to Volatile Oil Prices: The Case of Azerbaijan," Transition Studies Review, Springer;Central Eastern European University Network (CEEUN), vol. 18(1), pages 179-199, September.
  • Handle: RePEc:spr:trstrv:v:18:y:2011:i:1:p:179-199
    DOI: 10.1007/s11300-011-0183-5
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    References listed on IDEAS

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    1. Milton Friedman, 1957. "Introduction to "A Theory of the Consumption Function"," NBER Chapters,in: A Theory of the Consumption Function, pages 1-6 National Bureau of Economic Research, Inc.
    2. Jens R Clausen, 2008. "Calculating Sustainable Non-mineral Balances as Benchmarks for Fiscal Policy; The Case of Botswana," IMF Working Papers 08/117, International Monetary Fund.
    3. Rodrigo O. Valdes & Eduardo M Engel, 2000. "Optimal Fiscal Strategy for Oil Exporting Countries," IMF Working Papers 00/118, International Monetary Fund.
    4. International Monetary Fund, 2004. "Republic of Kazakhstan; Selected Issues," IMF Staff Country Reports 04/362, International Monetary Fund.
    5. Alonso A Segura Vasi, 2006. "Management of Oil Wealth Under the Permanent Income Hypothesis; The Case of São Tomé and Príncipe," IMF Working Papers 06/183, International Monetary Fund.
    6. Baland, Jean-Marie & Francois, Patrick, 2000. "Rent-seeking and resource booms," Journal of Development Economics, Elsevier, vol. 61(2), pages 527-542, April.
    7. Jan-Peter Olters & Daniel Leigh, 2006. "Natural-Resource Depletion, Habit Formation, and Sustainable Fiscal Policy; Lessons from Gabon," IMF Working Papers 06/193, International Monetary Fund.
    8. Thomas Baunsgaard, 2003. "Fiscal Policy in Nigeria; Any Role for Rules?," IMF Working Papers 03/155, International Monetary Fund.
    9. Christopher D. Carroll, 2001. "A Theory of the Consumption Function, with and without Liquidity Constraints," Journal of Economic Perspectives, American Economic Association, vol. 15(3), pages 23-45, Summer.
    10. Usui, Norio, 1997. "Dutch disease and policy adjustments to the oil boom: a comparative study of Indonesia and Mexico," Resources Policy, Elsevier, vol. 23(4), pages 151-162, December.
    11. Gunning, Jan Willem, 1991. "Oil windfalls: Blessing or curse? : Alan Gelb and associates, (Oxford University Press, for the World Bank, New York, etc.. 1988) pp. 357," Journal of Development Economics, Elsevier, vol. 35(2), pages 407-411, April.
    12. Steven A Barnett & Rolando Ossowski, 2002. "Operational Aspects of Fiscal Policy in Oil-Producing Countries," IMF Working Papers 02/177, International Monetary Fund.
    13. Reyes-Loya, Manuel Lorenzo & Blanco, Lorenzo, 2008. "Measuring the importance of oil-related revenues in total fiscal income for Mexico," Energy Economics, Elsevier, vol. 30(5), pages 2552-2568, September.
    14. International Monetary Fund, 2003. "Azerbaijan Republic; Selected Issues and Statistical Appendix," IMF Staff Country Reports 03/130, International Monetary Fund.
    15. Olivier Basdevant, 2008. "Are Diamonds Forever? Using the Permanent Income Hypothesis to Analyze Botswana’s Reliance on Diamond Revenue," IMF Working Papers 08/80, International Monetary Fund.
    16. Christoph B. Rosenberg & Tapio Saavalainen, 1998. "How to Deal with Azerbaijan’s Oil Boom? Policy Strategies in a Resource-Rich Transition Economy," IMF Working Papers 98/6, International Monetary Fund.
    17. Mikesell, Raymond F, 1997. "Explaining the resource curse, with special reference to mineral-exporting countries," Resources Policy, Elsevier, vol. 23(4), pages 191-199, December.
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    Cited by:

    1. Samad Bashirli & Ilkin Sabiroglu, 2013. "Testing Wagner’s Law in an Oil-Exporting Economy: the Case of Azerbaijan," Transition Studies Review, Springer;Central Eastern European University Network (CEEUN), vol. 20(3), pages 295-307, November.

    More about this item

    Keywords

    Sustainable fiscal policy; Permanent income hypothesis; Oil price uncertainty; Oil reference price; Azerbaijan; E6; H5; Q3; D81;

    JEL classification:

    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • H5 - Public Economics - - National Government Expenditures and Related Policies
    • Q3 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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