|Generate QR code
Open Access
Subscription Access
The Instruments of the Stabilization Fund: The Experience and Prospects
https://doi.org/10.32609/0042-8736-2004-3-65-75
Abstract
Сreation of the stabilization fund has become the main feature of the Russian federal budget for 2004. This instrument provides the opportunity to reduce the dependence of budget incomes on the fluctuations of oil prices. The accepted model does not consider the world experience in building of such funds as the "funds for future generations", and the increase of other revenues from the growing oil prices as well. That can lead to shortening and immobilization of the financial basis of economic growth.
References
1. О стратегии роста и основных требованиях к макроэкономической политике. Информационно-аналитический бюллетень Фонда "Бюро экономического анализа", июнь 2001, № 28.
2. Claessens S., Varangis P. Oil Price Instability, Hedging and Oil Stabilization Fund: The Case of Venezuela. World Bank Working Paper 1290, 2002.
3. Diamond J. The New Russian Budget System: An Assessment and Future Reform Agenda. Washington, DC: IMF, 2003.
4. Hausman R., Stein E. Searching for the Right Budgetary Institutions for a Volatile Region. In: Securing Stability and Growth in Latin America. Paris: OECD, 1997.
5. Strauss T. Growth and Government: Is There a Difference between Developed and Developing Countries. Stockholm School of Economics Working Paper in Economics and Finance, No 275, 1998.
Review
For citations:
Afanasiev M. The Instruments of the Stabilization Fund: The Experience and Prospects. Voprosy Ekonomiki. 2004;(3):65-75. (In Russ.) https://doi.org/10.32609/0042-8736-2004-3-65-75
Views:
497
Email this article 
