In a New York Times op-ed earlier this year (April 9, 2003), Steve Clemons of the New America Foundation has proposed that Iraq establish an Alaska-style oil fund that would pay annual dividends to the citizens of Iraq.ii In Alaska, revenues from oil leases have been invested in a permanent fund, which has grown to $23.5 billion in 2002; part of the fund’s income is now distributed directly to ...

Energy-producing states confront numerous challenges related to the boom-and-bust of resource extraction, including substantial fluctuation in revenue produced by severance taxes. Revenues surge as drilling expands during booms, creating many pressures for immediate expenditure. This often sets up enormous strain during bust periods when revenues plunge as longer-term needs emerge. This paper, ...

according to resource curse theory, not only the revenues from selling natural resources do not result in economic growth, but also have some unpleasant effects on economy. this study shows that natural resources cannot be considered curse by itself , but it is the management of revenues which is important. the foreign reserves fund was established to control the effects of oil price volatiliti...

a r t i c l e i n f o A large part of government revenues in Russia comes from royalties and export taxes on crude oil, oil products, and gas. Recently, the Russian government has considered reducing export taxes on crude oil and oil products compensated by an increase in the royalty on crude oil. The objective of the paper is to analyse the economy-wide effects of this proposal. Moreover, a hy...

this paper extends endogenous growth models through augmenting it with government budget and oil revenues as well as the effect of public investment efficiency on long run growth of private and government consumption and import for an oil producing economy. based on the extracted model, the optimal growth rate of government current expenditure (or consumption) has a positive relation with the e...

We analyse the size and potential determinants of governments' revenues windfall in the European Union. Using information about fiscal plans taken from the Stability and Convergence Programmes (SCP) submitted between 1998 and 2006, revenue windfalls are found to have represented on average 0.23% of GDP in the euro-area during the period 19992007, hiding substantial variations both across time (...

within the framework of international political economy, this article discusses the situation of energy resources, including oil and gas, in central asia and argues that due to abundance of oil and gas resources in such countries as kazakhstan, turkmenistan and uzbekistan, and hefty revenues generated by those resources, statesmen in these countries are planning to turn central asia into a majo...

iran is one f the biggest oil producer and exporter of the world. due to the special administrative and constitutional structure of the country, i.e. economic, social and political reasons, the government budget and revenues depend heavily on oil exports. the aim of this article is to suggest a theoretical proposal on the optimum level of non-oil exports such that it will clear up the idea of e...