IMF Staff Country Reports

Republic of Kazakhstan: Selected Issues

Publication Date:

November 15, 2004

Electronic Access:

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Summary:

This Selected Issues paper analyzes the optimal policy response on the part of the Kazakhstan authorities to the prospective oil inflows. It surveys the literature on the so-called natural resource curse and offers an analysis of Kazakhstan’s petroleum potential. The paper analyzes the impact of the oil boom on the non-oil sector, based on a general equilibrium model. It provides an analysis of fiscal rules and fiscal sustainability and assesses the possible role of fiscal policies in addressing the “natural resource curse.”

Series:

Country Report No. 2004/362

Subject:

Commodities Commodity booms Environment Expenditure Foreign exchange Natural resources Oil Oil, gas and mining taxes Real exchange rates Taxes