Abstract
Abstract. National asset funds are introduced to use the current transaction surplus, except the official reserves, in the most effective way possible. It is possible to cite the sources of these funds as commodity and non-commodity sources. The initial practices have been seen in oil-rich Gulf countries as well as Asian nations which have been successful in export activities. There are different national asset funds in a number of countries in the world exhibiting different management styles. The primary goals include ensuring sustainable development, creating sources, conducting development projects and accumulating savings for future generations. In addition, they are also used to deal with possible economic crises. But these funds are being criticized because they are allegedly not transparent and they can be used as independent budget by governments. Currently, the impacts of these funds upon economic growth have been a matter of academic curiosity. The purpsose of this paper is to analyze the impact of the size of the national asset funds upon economic growth by reliance on a panel analysis of six nations employing asset funds. The findings in the analysis show that increase in the size of the national asset funds has a positive impact upon economic growth of the nations.
Keywords. National asset fund, Economic growth, Panel data analysis.
JEL. C10, C20, G23, O40.
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