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Ramil Kazimov

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How can we effectively manage the oil revenues? Should we spend or save? Or Both?

I am going to write a policy paper on management of oil revenues in Azerbaijan, oil rich country located in South Caucasus. This is very hot topic and at the same time difficult one that requires challenging approaches. I will address the transparency and effective management issues of oil revenues in Azerbaijan paying attention specifically fiscal policies that are proposed by most scholars and government-society mutual collaboration. What are you ideas on this? I would highly appreciate for your recommendations and ideas.

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    Apr 29 2013: how it is possible that you did not even mention anything like investment, capital, infrastructure. you know, preparing for the time when oil will be obsolete, or depleted, or you just simply want to move on. you know, the thing we commonly refer to as "future".
  • Apr 29 2013: It depends on your leaders, but most oil rich countries have only benefited short-term.
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    Apr 29 2013: I think spending and saving can be done in one policy direction: oil revenue should be channelled towards the development of infastructure, the development of other non-oil sector (Agriculture, manufacturing, tourism, r&d). Investments in industrialisation, research and education is as good as saving.