The effect of fiscal policy on oil revenue fund: the case of Kazakhstan

Azhgaliyeva, D. (2014) The effect of fiscal policy on oil revenue fund: the case of Kazakhstan. Journal of Eurasian Studies, 5 (2). pp. 157-183. ISSN 1879-3665 doi: 10.1016/j.euras.2014.05.001

Abstract/Summary

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.

Item Type	Article
URI	https://reading-clone.eprints-hosting.org/id/eprint/67646
Identification Number/DOI	10.1016/j.euras.2014.05.001
Refereed	Yes
Divisions	Henley Business School > Leadership, Organisations and Behaviour
Publisher	Elsevier
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