Stabilization and Savings Funds to Manage Natural Resource Revenues: Kazakhstan and Azerbaijan vs. Norway
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
|Date of creation:||Oct 2010|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +49 431 8814-1
Fax: +49 431 85853
Web page: http://www.ifw-kiel.de
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:kie:kieliw:1652. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dieter Stribny)
If references are entirely missing, you can add them using this form.