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How Effective are Oil Funds? Managing Resource Windfalls in Azerbaijan and Kazakhstan

dc.contributor.authorNorio Usui
dc.date.accessioned2015-01-24T13:13:46Z
dc.date.available2015-01-24T13:13:46Z
dc.date.issued2007-12-01
dc.identifier.issn1655-5260
dc.identifier.urihttp://hdl.handle.net/11540/1456
dc.description.abstractNorio Usui writes that the recent surge in global commodity prices has brought large windfall revenues to resource-rich economies in Asia. Booming economies have, however, faced challenges of macroeconomic stabilization and intergenerational income distribution, and sought a solution to setting up a separate fund outside the budget. This brief assesses the experiences of Azerbaijan and Kazakhstan in their oil revenue management, and concludes that if there is insufficient control of expenditure or deficits, setting up an oil fund by itself does not guarantee either a prudent stance on overall fiscal management or commitment to savings for future generations.
dc.languageEnglish
dc.publisherAsian Development Bank
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.titleHow Effective are Oil Funds? Managing Resource Windfalls in Azerbaijan and Kazakhstan
dc.typeBriefs
dc.subject.expertMacroeconomic
dc.subject.expertMacroeconomic Analysis
dc.subject.expertMacroeconomic Framework
dc.subject.expertMacroeconomic Models
dc.subject.expertMacroeconomic Performance
dc.subject.expertMacroeconomic Planning
dc.subject.expertMacroeconomic Policies
dc.subject.expertMacroeconomic Reform
dc.subject.expertMacroeconomic Stabilization
dc.subject.adbSocial condition
dc.subject.adbEconomic dependence
dc.subject.adbEconomic assistance
dc.subject.adbInternational monetary relations
dc.subject.adbInternational monetary relations
dc.subject.adbInternational trade
dc.subject.adbNational accounting
dc.subject.adbMarket
dc.subject.naturalExchange
dc.subject.naturalComparative economics
dc.subject.naturalIndex number
dc.subject.naturalMonetary policy
dc.subject.naturalValue analysis
dc.subject.naturalAdjustment cost
dc.subject.naturalTransaction cost
dc.subject.naturalConditionality
dc.subject.naturalInternational relations
dc.title.seriesERD Policy Briefs
dc.title.volumeno 50
dc.contributor.imprintAsian Development Bank
oar.themeEconomics
oar.adminregionCentral West Asia Region
oar.countryAzerbaijan
oar.countryKazakhstan
oar.identifierOAR-002015
oar.authorUsui, Norio
oar.importtrue
oar.googlescholar.linkpresenttrue


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  • Project, Partnership, Policy and Sector Briefs
    The Asian Development Bank publishes various briefs about its projects, partnerships, and policies in different sectors in different countries. The aim of these briefs is to inform readers about developments, thematic and sector research, economic reports, partnership updates, or policy and strategy issues in a quick-disseminating format.

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