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http://hdl.handle.net/10419/41454
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| Title: | | Stabilization and savings funds to manage natural resource revenues: Kazakhstan and Azerbaijan vs. Norway  |
| Authors: | | Lücke, Matthias |
| Issue Date: | | 2010 |
| Series/Report no.: | | Kiel working paper 1652 |
| Abstract: | | 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. |
| Subjects: | | resource-based development sovereign wealth fund |
| JEL: | | O13 Q32 L71 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des IfW Economists Online Kieler Arbeitspapiere, IfW
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