文档介绍：Implementer:
Kenan Aslanli
(Public Finance Monitoring Centre, Baku)
Research topic:
Adjustment of the optimal ratio of spending to accumulation with regard to oil & gas es in Azerbaijan (with parative analysis and unifications between Kazakhstan and Russia)
Baku 2008-2009
Introduction
The special nature of “raw material revenues” requires a special managerial approach, one that is geared towards ensuring medium- and long-term macro-economic stability. The key is to keep state expenditures and private consumption stable over the long term, as well as to prevent the oscillation of macro-economic indicators such as inflation, the exchange rate, national debt and interest rates in financial markets. This research reveals the adjustment of the optimal ratio of spending to accumulation with regard to oil & gas es in Azerbaijan with parative analysis and unifications together with Kazakhstan and Russia. Additionally, it touches prehensive economic impact of oil revenues and the necessity for managing them effectively in terms of both ultimate objectives and incremental improvements. The author has conducted parative analysis of Russia, Azerbaijan and Kazakhstan, which are all both transition and oil economies. Similarities between these three countries are (i) post-soviet ballast (in economy, institutional field and social life); (ii) high growth rates; (iii) economies generally focused on mineral resources; (iv) inflation and (v) resource misapplication. New challenges for the Caspian countries are following utilize beneficially the attractiveness of the world oil market, to strengthen development potential of the national oil-panies as well as to convert it to a world market player, through utilizing revenues from oil & gas to increase investments in renewable energy, having petitiveness in domestic economy to decrease oil dependency growth rate.
Macroeconomic impacts of oil revenues
Strong economic and budgetary dependence on raw material exports presents s