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Title: The Effect of Fiscal Policy on Oil Revenue Fund: the Case of Kazakhstan
Keywords: Sovereign Wealth Fund
Natural resource revenue
Oil-producing country
Stabilization fund
Issue Date: 1-Jul-2014
Publisher: SAGE journals
Citation: DINA AZHGALIYEVA (2014-07-01). The Effect of Fiscal Policy on Oil Revenue Fund: the Case of Kazakhstan. Journal of Eurasian Studies 5 : 157-183. ScholarBank@NUS Repository.
Rights: Attribution-NonCommercial 4.0 International
Abstract: Setting an optimal fiscal policy in oil-producing countries is challenging, due to the exhaustibility of oil resources and unpredictability of oil prices. Recently it has become popular among oil-producing countries to establish oil revenue funds, which are believed to stabilize the economy and provide inter-generational redistribution of oil wealth. The effectiveness of oil revenue funds and their design have received considerable attention from researchers and policymakers recently. Using empirical model, it is found that an oil revenue fund in Kazakhstan stabilized the government expenditure, but did not stabilize real effective exchange rates.
Source Title: Journal of Eurasian Studies
ISSN: 1879-3665
DOI: 10.1016/j.euras.2014.05.001
Rights: Attribution-NonCommercial 4.0 International
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