- Chapter 1. Introduction
- Chapter 2. Economic Theory and Natural Resource Booms
- Chapter 3. Country Experiences with Managing Natural Resource Windfalls
- Chapter 4. The Oil Sector in Azerbaijan
- Chapter 5. Strategy for Managing Oil Wealth
- Chapter 6. Conclusion
- Appendix 1. Oil and Economic Development in Indonesia14
- Appendix 2. Oil and Economic Development in Nigeria15
- Appendix 3. Oil and Economic Development in Mexico16
- Appendix 4. Calculation of the Sustainable Non-Oil Deficit
Front Matter
- Niko Hobdari, Eric Le Borgne, Chonira Aturupane, Koba Gvenetadze, John Wakeman-Linn, and Stephan Danninger
- Published Date:
- April 2004

© 2004 International Monetary Fund
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Cataloging-in-Publication Data
Managing oil wealth: the case of Azerbaijan / prepared by John Wakeman-Linn … [et al.].
—[Washington, D.C.: International Monetary Fund, 2004]
p. cm.
ISBN 9781589063082
Includes bibliographical references.
1. Petroleum industry and trade—Azerbaijan. 2. Natural resources—Azerbaijan—Management. 3. Natural resources. I. Wakeman-Linn, John.
HD9576.A982 M26 2004
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Contents
Chapter 3. Country Experiences with Managing Natural Resource Windfalls
Boxes
Figures
Azerbaijan Oil and Gas Revenues Under Conservative Price Assumptions, 2000-25
Azerbaijan: Sustainable Non-Oil Deficit Ceiling—Constant Expenditures, 2000-24
Azerbaijan: Sustainable Non-Oil Deficit—Constant Wealth, 2000-24
Azerbaijan: Sensitivity Analysis of the Medium-Term Sustainable Non-Oil Deficit Ceiling, 2003-24
Tables
Acknowledgments
This paper has benefited from comments by Julian Berengaut, Oleh Havrylyshyn, Juha Kähkönen, Rolando Ossowski, Mark Flanagan, Michael Mered, Basil Zavoico, Christian Petersen, and Peter Thomson. The authors would like to thank Malina Savova for research assistance; Grace Moss for assistance in putting the manuscript together; and Maria Cecilia Pineda for document preparation.
The authors would also like to thank the Azerbaijan International Operating Company (AIOC) for providing us with valuable data. Sean Culhane perfomed an editorial review and coordinated the production of this volume.