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Russian Federation: Selected Issues

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  • International Monetary Fund

Abstract

Russia’s large oil and gas reserves play a key role in its economic development. As with many other large oil exporters, Russia’s energy wealth is also posing numerous challenges to macroeconomic management. Although fiscal policy has saved a large part of the oil windfall in the Oil Stabilization Fund (OSF), this has not been guided by a consistent long-term framework. The framework is illustrated with numerical simulations of different fiscal spending rules that are consistent with sustainable paths of consumption out of oil and gas wealth over time.

Suggested Citation

  • International Monetary Fund, 2006. "Russian Federation: Selected Issues," IMF Staff Country Reports 2006/430, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2006/430
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=20160
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    Citations

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    Cited by:

    1. Ms. Corinne C Delechat & Matthew Gaertner, 2008. "Exchange Rate Assessment in a Resource-Dependent Economy: The Case of Botswana," IMF Working Papers 2008/083, International Monetary Fund.
    2. Bazhanov, A., 2011. "The Dependence of the Potential Sustainability of a Resource Economy on the Initial State: a Comparison of Models Using the Example of Russian Oil Extraction," Journal of the New Economic Association, New Economic Association, issue 12, pages 77-100.
    3. World Bank, 2014. "Kyrgyz Republic - The Garment Sector : Impact of Joining the Customs Union and Options to Increase Competitiveness," World Bank Publications - Reports 21103, The World Bank Group.
    4. Bazhanov, Andrei, 2012. "Disregarded inefficiency may dominate sustainability policies," MPRA Paper 43621, University Library of Munich, Germany.
    5. Mr. Evan C Tanner, 2013. "Fiscal Sustainability: A 21st Century Guide for the Perplexed," IMF Working Papers 2013/089, International Monetary Fund.

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