Design of Governance and Resource Allocation in National Development Fund of Iran(NDFI)

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MAHMOUDI VAHID; Abdoh Tabrizi Hossein; Shirkavand Saeed; Ghahremani Reza

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Journal: Financial Economics Year:2020 | Volume:13 | Issue:49 Page(s): 47-100

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Information Journal Paper

Title

Design of Governance and Resource Allocation in National Development Fund of Iran(NDFI)

Author(s)

MAHMOUDI VAHID | Abdoh Tabrizi Hossein | Shirkavand Saeed | Ghahremani Reza | Issue Writer Certificate

Keywords

The National Development Fund of Iran (NDFI)Q1

Sovereign Wealth Fund (SWF)Q1

GovernanceQ1

Resource AllocationQ2

Abstract

The National Development Fund of Iran (NDFI) is established to replace a portion of the revenue originated from selling oil and gas to durable wealth and productive economic investments as well as preserving the share of future generations. The initial review of the fund identifies the problems and deficiencies in various areas of its structure which have made the fund fail to preserve wealth for current and future generations. In this article, by comparative research of similar Sovereign Wealth Funds (SWF) including Azerbaijan, Alaska, Alberta, Abu Dhabi, Norway, Qatar, Kuwait funds and considering requirements and objectives of the NDFI, appropriate solutions about Governance and Resource Allocation have been provided. We first identify the nature of these funds by studying the various features of the SWFs. Then dimensions and components of Governance and Resource Allocation have extracted from comparative studies and text mining. Due to the SWFs comparative research, primary guidelines have been extracted. The final modified solutions have been presented, after interviewing the experts. Suggested solutions are presented in four categories, including the legal framework and corporate Governance structure, financial rules of resources and withdrawal, investment and monitoring, transparency and accountability in the last section of the present study. The present guidelines accord with the results of similar previous studies and the experts’ approval in addition to approved evaluation based on questionnaire with 63 statements. The statistical tests confirmed all the above categories and the ranking of suggestions are also determined.

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APA: Copy

MAHMOUDI, VAHID, Abdoh Tabrizi, Hossein, Shirkavand, Saeed, & Ghahremani, Reza. (2020). Design of Governance and Resource Allocation in National Development Fund of Iran(NDFI). JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT), 13(49 ), 47-100. SID. https://sid.ir/paper/229284/en

Vancouver: Copy

MAHMOUDI VAHID, Abdoh Tabrizi Hossein, Shirkavand Saeed, Ghahremani Reza. Design of Governance and Resource Allocation in National Development Fund of Iran(NDFI). JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT)[Internet]. 2020;13(49 ):47-100. Available from: https://sid.ir/paper/229284/en

IEEE: Copy

VAHID MAHMOUDI, Hossein Abdoh Tabrizi, Saeed Shirkavand, and Reza Ghahremani, “Design of Governance and Resource Allocation in National Development Fund of Iran(NDFI),” JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT), vol. 13, no. 49 , pp. 47–100, 2020, [Online]. Available: https://sid.ir/paper/229284/en

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