TY - BOOK ID - 84659293 TI - From Volatility to Stability in Expenditure : Stabilization Funds in Resource-Rich Countries AU - Sugawara, Naotaka. AU - International Monetary Fund. PY - 2014 SN - 1484334914 1484334566 1475527659 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Economic stabilization KW - Expenditures, Public KW - Economic policy KW - International finance KW - International monetary system KW - International money KW - Finance KW - International economic relations KW - Economic nationalism KW - Economic planning KW - National planning KW - State planning KW - Economics KW - Planning KW - National security KW - Social policy KW - Appropriations and expenditures KW - Government appropriations KW - Government expenditures KW - Government spending KW - Public expenditures KW - Public spending KW - Spending, Government KW - Finance, Public KW - Public administration KW - Government spending policy KW - Macroeconomics KW - Public Finance KW - Natural Resources KW - Fiscal Policy KW - Comparative or Joint Analysis of Fiscal and Monetary Policy KW - Stabilization KW - Treasury Policy KW - Structure and Scope of Government: General KW - National Government Expenditures and Related Policies: General KW - Nonrenewable Resources and Conservation: Government Policy KW - Agricultural and Natural Resource Economics KW - Environmental and Ecological Economics: General KW - Public finance & taxation KW - Environmental management KW - Expenditure KW - Fiscal rules KW - Natural resources KW - Fiscal policy KW - Fiscal stance KW - Environment KW - Norway UR - https://www.unicat.be/uniCat?func=search&query=sysid:84659293 AB - This paper examines the effect of stabilization funds on the volatility of government expenditure in resource-rich countries. Using a panel data set of 68 resource-rich countries over 1988–2012, the results find that the existence of stabilization funds contributes to smoothing government expenditure. The spending volatility in countries that have established such funds is found to be 13 percent lower in the main estimation, and similar impacts are found in robustness tests. The analysis also shows that political institutions and fiscal rules are significant factors in reducing the expenditure volatility, while highlighting the roles of the size of economy, diversified exports, real sector management, and financial markets. ER -