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Fiscal Management of Oil Revenues: Challenges and Issues. The Case Study of Kazakhstan
Niyazova, Zarina ; Šír, Jan (advisor) ; Horák, Slavomír (referee)
Bc. Thesis: Fiscal Management of Oil Revenues: Challenges and Issues. Case Study of Kazakhstan Author: Zarina Niyazova (IMS FSV UK) Date: May 2011 Abstract This thesis deals with the most striking and debatable of resources: oil. The primary aim of the thesis is to identify importance of oil revenues for economic development, provide a description and analysis of fiscal management of oil revenues, and examine specific challenges and issues posed by oil wealth to the governments and national economies. In order to analyze these challenges, it is crucial to define what oil revenues are, how are they collected, and what is their significance for country's political, economic, and social development. After providing detailed framework for oil revenue management in the first chapter, the thesis presents a practical example of oil revenue management on the example of Kazakhstan since the post-privatization period beginning in 1997 till present. The study comes to a conclusion, that Kazakhstan presents a very specific example, where the already difficult task of revenue management is further complicated by other factors. First, oil boom management took place simultaneously with a process of state-building and transition from Soviet command model to free market economy. Second, there were other demographic,...
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