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SWFs: New Challenges for the Caspian Countries

29 May 2012
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Sovereign Wealth Funds: New Challenges for the Caspian Countries (PDF 2.76 MB)
Topics
Commodity prices, Revenue management, Sovereign wealth funds
Countries
Azerbaijan, Kazakhstan, Russia
Stakeholders
Civil society actors, Government officials
Precepts
P2 P7 P8 What are Natural Resource Charter precepts?
Social Sharing
Over the past decade, the boom in commodity prices and the growth of foreign exchange reserves have made Sovereign Wealth Funds (SWF) major forces in the global economy, with the largest funds managing well over $4 trillion in assets.

Their influence has had far-reaching consequences for both host and sponsoring countries. SWFs can finance development projects and shield economies from volatility. But they can also hamper the effectiveness of macroeconomic policies and create opportunities for corruption.

This report from Azerbaijan's Public Finance Monitoring Center, Khazar University and RWI presents a critical analysis of resource-based SWFs in three Caspian countries: Azerbaijan, Kazakhstan and Russia. While SWFs enabled them to weather the global financial crisis, the funds’ investment choices have failed to promote long-term development at home, highlighting the need for transparency and accountability as well as new methods to assess SWF performance.

Related content

The $3.5 Trillion Question: How to Make Natural Resource Funds Work for Citizens

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Natural Resource Funds: Fund Profiles and Policy Briefs

27 March 2014

Paradox of Plenty, Redux: Azerbaijan Grapples with Low Oil Prices

Farid Guliyev
18 May 2016

Countries Struggling with Governance Manage $1.2 Trillion in Resource Wealth

David Mihalyi, Anna Fleming
8 September 2017

How Do Resource-Rich Countries Adjust to Low Commodity Prices?

Event type: 
Discussion
Tuesday, May 24, 2016 -
09:00 to 13:00
Baku, Azerbaijan

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  • Topics
    Beneficial ownership
    Civic space
    Commodity prices
    Contract transparency and monitoring
    Coronavirus
    Corruption
    Economic diversification
    Energy transition
    Global initiatives
    Legislation and regulation
    Licensing and negotiation
    Mandatory payment disclosure
    Measurement of environmental and social impacts
    Measurement of governance
    Open data
    Revenue management
    Revenue sharing
    Sovereign wealth funds
    State-owned enterprises
    Subnational governance
    Tax policy and revenue collection
  • Approach
    • Stakeholders
    • Natural Resource Charter
    • Regional knowledge hubs
  • Priority
    Countries
    • Colombia
    • Dem. Rep. of Congo
    • Ghana
    • Guinea
    • Mexico
    • Mongolia
    • Myanmar
    • Nigeria
    • Peru
    • Tanzania
    • Tunisia
    • Uganda
  • Learning
    • Training
    • Primers
  • Analysis & Tools
    • Publications
    • Tools
    • Economic models
  • About Us
    • What we do
    • NRGI impact
    • Board of Directors
    • Advisory Council
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