ASSESSMENT OF NATIONAL REVENUE FUND FROM THE SALE OF NON-RENEWABLE NATURAL RESOURCES; WITH EMPHASIS ON IRAN’S NATIONAL DEVELOPMENT FUND

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KARIMIFARD HASSAN

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Journal: MAJLIS & RAHBORD Year:2012 | Volume:18 | Issue:68 Page(s): 147-184

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Title

ASSESSMENT OF NATIONAL REVENUE FUND FROM THE SALE OF NON-RENEWABLE NATURAL RESOURCES; WITH EMPHASIS ON IRAN’S NATIONAL DEVELOPMENT FUND

Author(s)

KARIMIFARD HASSAN | Issue Writer Certificate

Keywords

OILQ2

DEVELOPMENTQ2

FOREIGN EXCHANGE RESERVES ACCOUNTQ2

NATIONAL DEVELOPMENT FUNDQ2

Abstract

Some of the economists of the twentieth century believed that national resources is a key factor of economic growth, but slowly economic growth in developing countries which had natural resources was an unexpected phenomenon in the literature of economic growth. It is worth noting that natural resources are neither curse nor blessing, however they are determinant factors to manage and use of these revenues. In order to avoid the curse phenomenon of resources, developing countries have used policies such as privatization, diversifying exports, direct distribution of OIL revenues and national revenues fund. Since 2000, Iran’s FOREIGN EXCHANGE RESERVES ACCOUNT has been established to manage revenues during the OIL boom and bust. This paper reviews the experiences of different countries in responding to the question, which in some cases concluded to success while in the others to failing management of the resources. Based on the DEVELOPMENT theories and the experiences of developing countries at the macro-level institutional arrangements, our propose is that the only way to manage the fund performance is reducing the government's role and at the same time making a network of relationships among the state, society and industry. This network will play an equal and active role in managing the fund. At the micro-level there is an emphasized on such a factors as transparency, accountability, clear measures for saving and spending, prevent arbitrary changes to the law, and providing regular and detailed reports on all completed tasks (including cash flows and credit allocation) and holding public meetings with the presence of media.

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APA: Copy

KARIMIFARD, HASSAN. (2012). ASSESSMENT OF NATIONAL REVENUE FUND FROM THE SALE OF NON-RENEWABLE NATURAL RESOURCES; WITH EMPHASIS ON IRAN’S NATIONAL DEVELOPMENT FUND. MAJLIS & RAHBORD, 18(68), 147-184. SID. https://sid.ir/paper/224725/en

Vancouver: Copy

KARIMIFARD HASSAN. ASSESSMENT OF NATIONAL REVENUE FUND FROM THE SALE OF NON-RENEWABLE NATURAL RESOURCES; WITH EMPHASIS ON IRAN’S NATIONAL DEVELOPMENT FUND. MAJLIS & RAHBORD[Internet]. 2012;18(68):147-184. Available from: https://sid.ir/paper/224725/en

IEEE: Copy

HASSAN KARIMIFARD, “ASSESSMENT OF NATIONAL REVENUE FUND FROM THE SALE OF NON-RENEWABLE NATURAL RESOURCES; WITH EMPHASIS ON IRAN’S NATIONAL DEVELOPMENT FUND,” MAJLIS & RAHBORD, vol. 18, no. 68, pp. 147–184, 2012, [Online]. Available: https://sid.ir/paper/224725/en

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