We empirically model the causes of corruption and test the economic development–corruption link in energy-rich economies, using data from 48 countries with energy resources. The results indicate that energy abundance may not necessarily hurt economic development in energy-rich countries,...

This paper discusses the contribution that oil funds can make to the policy challenges facing resource-rich countries. To set the stage, it reviews the potential role of such funds in the broader context of macroeconomic and energy policies – taking into account uncertainty about oil prices,...

The paper analyses data from the survey of 701 Kazakhstani firms over a nearly 2-year period from the second quarter of 1998 through the fourth quarter 1999, making it possible to examine employment changes for period prior to, during and following the Russian financial crisis of August 1998....

This paper analyses the interlink between resource revenues and financial sector management in Russia and Kazakhstan. In the absence of a well functioning private financial sector the governments can substitute for the actions of the private actors by introducing dedicated financial vehicles....