The effect of fiscal policy on oil revenue fund: the case of KazakhstanAzhgaliyeva, 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
It is advisable to refer to the publisher's version if you intend to cite from this work. See Guidance on citing. To link to this item DOI: 10.1016/j.euras.2014.05.001 Abstract/SummarySetting 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.
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