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DOI: 10.15862/21ECOR422 (https://doi.org/10.15862/21ECOR422)

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Burygin I.E. Sovereign funds: features of their formation and use in the Russian Federation and foreign countries. Russian journal of resources, conservation and recycling. 2022; 9(4). Available at: https://resources.today/PDF/21ECOR422.pdf (in Russian). DOI: 10.15862/21ECOR422

Sovereign funds: features of their formation and use in the Russian Federation and foreign countries

Burygin Ilya Evgenievich
Financial University under the Government of the Russian Federation, Moscow, Russia
E-mail: Byrigin@yandex.ru

Abstract. In this article, the author analyzes the features of several types of sovereign funds in different countries. SWF management acts as the main income of the countries. Since the National Wealth Fund is the main sovereign fund in Russia, the author considers it appropriate to analyze the formation of the fund through the management of sovereign wealth funds in other countries. The article provides a classification of sovereign wealth, according to the theoretical provisions developed by E.A. Levchenko. The author notes that often sovereign funds can perform several functions at once. This is typical for funds in countries such as Kuwait, Norway, and also for the state of Alaska. Further, the author proceeds to consider the State Oil Fund of Norway, the Pension Fund of Norway, highlights their functions and areas of use of their funds. The article emphasizes that the funds of the Pension Fund for the most part can be used to achieve such goals as compensating for a budget deficit or adjusting budget revenues from generation to generation. The author then proceeds to consider the funds of Alaska: the Alaska Permanent Fund and the Constitutional Reserve Budget. It is noted that the directions of use of the funds are determined annually by the governor and the legislature of the state. Also in the article, special attention is paid to the Kuwait Oil Fund. In the final part of the article, the author provides statistical data on the return on the use of the Norwegian Pension Fund, on the shares of return on types of assets, as well as on the distribution of investments from the Alaska Permanent Fund.

Keywords: budget; budget process; sources of fund formation; macroeconomic indicators; oil; Pension Fund; sovereign wealth; sovereign fund; National Wealth Fund; stock assets; economy

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