Using its oil wealth to speed up development and diversification is a key long term goal for the Kazakhstani authorities. Ambitious public investment programs may help to boost growth but the cost may be high in terms of adverse macroeconomic outcomes. This report reviews the record of management of oil wealth in Kazakhstan and utilizes a structural model to analyze macroeconomic implications of alternative scenarios for scaling up public investment.
Gohar Minasyan; Yang, S. IMF Country Report: Republic of Kazakhstan. International Monetary Fund, Washington, D.C., USA (2013) 20 pp. [IMF Country Report No. 13/291]