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dc.contributor.authorTorvik, Ragnar
dc.date.accessioned2017-04-21T07:35:57Z
dc.date.available2017-04-21T07:35:57Z
dc.date.issued2017
dc.identifier.issn1892-2198
dc.identifier.urihttp://hdl.handle.net/11250/2440211
dc.description.abstractMany natural-resource-abundant countries have established petroleum funds as part of their strategy to manage their resource wealth. This paper examines reasons that such funds may be established, discusses how these funds are organized, and draws some policy lessons. The paper then develops a theory of how petroleum funds may affect the economic and political equilibrium of an economy, and how this depends on the initial institutions. A challenge with petroleum funds is that they may produce economic and political incentives that undermine their potential benefits. An alternative to establishing petroleum funds is to use revenues to invest domestically in sectors such as infrastructure, education, and health. Such investments have the potential to produce a better economic, as well as institutional, development. This is particularly the case if the initial institutions are weak.nb_NO
dc.language.isoengnb_NO
dc.publisherBI Norwegian Business Schoolnb_NO
dc.relation.ispartofseriesCAMP Working Paper Series;3/2017
dc.subjectFiscal policynb_NO
dc.subjectExtractive industriesnb_NO
dc.subjectResource cursenb_NO
dc.subjectSovereign wealth fundnb_NO
dc.titleShould Developing Countries Establish Petroleum Funds?nb_NO
dc.typeWorking papernb_NO
dc.source.pagenumber35 sidernb_NO


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