Soverign Wealth Fund Issues and the National Fund(s) of Kazakhstan

David Kemme ()

No wp1036, William Davidson Institute Working Papers Series from William Davidson Institute at the University of Michigan

Abstract: This paper first describes the major concerns associated with SWFs, mainly revolving around state ownership and lack of transparency. It then focuses on the National Fund for the Future of Kazakhstan (the “oil fund”, or NOF) and Samruk Kazyna (SK), the holding company for state owned enterprises. The NOF is funded predominately by corporate income taxes and royalties on natural resource production and is an instrument to provide financial stability and intergenerational equity. SK includes most large public monopolies and state owned enterprises not privatized in the 1990s with all of the accompanying issues related to state ownership and control of productive activities.

Keywords: Sovereign Wealth Funds; Kazakhstan; Oil Fund (search for similar items in EconPapers)
JEL-codes: F33 G20 O53 P33 (search for similar items in EconPapers)
Pages: pages
Date: 2012-08-01
New Economics Papers: this item is included in nep-cwa and nep-ene
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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