The risks of fiscal policy in countries rich in natural resources

Alexander Knobel

Ekonomicheskaya Politika / Economic Policy, 2013, 29-38

Abstract: The article examines the risks of fiscal policy in resource-rich countries, which include Russia. It is showing what the consequences for the Russian federal budget may have a decrease in oil prices. In the context of consideration of the phenomena typical of resource-dependent economies, demonstrate lower rates of long-term economic growth. We discuss the macroeconomic and institutional aspects of the resource curse, the role of sovereign funds in the formation of the budget policy, separately demonstrated their institutional value.

Keywords: resource curse; fiscal policies; institutions; economic growth; sovereign wealth funds (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (2)

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Related works:
Working Paper: The Risks of Fiscal Policy in Countries Rich in Natural Resource (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:rnp:ecopol:ep1355

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