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Currency Undervaluation and Sovereign Wealth Funds : A New Role for the World Trade Organization

Mattoo, Aaditya; Subramanian, Arvind - 2012

dealing with undervalued exchange rates. This paper proposes new rules in the World Trade Organization to discipline cases of … WTO's enforcement mechanism is credible and effective. The World Trade Organization would not be involved in exchange rate … advantage of the two institutions, with the International Monetary Fund providing the essential technical expertise in the World …

Persistent link: https://www.econbiz.de/10012552459

On the International Transmission of Shocks : Micro-Evidence from Mutual Fund Portfolios

Raddatz, Claudio E.; Schmukler, Sergio L. - 2012

Using micro-level data on mutual funds from different financial centers investing in equity and bonds, this paper analyzes how investors and managers behave and transmit shocks across countries. The paper shows that the volatility of mutual fund investments is quantitatively driven by investors...

Persistent link: https://www.econbiz.de/10012554504

Do Capital Flows Respond to Risk and Return?

Calderón, César A.; Loayza, Norman; Servén, Luis - 2003

This paper explores empirically the role of risk and return in the observed evolution of net foreign asset positions of industrial and developing economies. The paper adopts a dynamic approach in which investors' portfolios adjust gradually to their long-run equilibrium, defined by a standard...

Persistent link: https://www.econbiz.de/10012573320

Country Portfolios

Kraay, Aart; Loayza, Norman; Serv??n, Luis - 2013

, production risk and sovereign risk. This model generates a set of country portfolios and a world distribution of capital stocks …

Persistent link: https://www.econbiz.de/10012559769

Sovereign Wealth Funds and Long-Term Investments in Sub-Saharan Africa

Diallo, Boubacar; Tchana Tchana, Fulbert; Zeufack, Albert G. - 2016

This paper explores the landscape, contributions, and determinants of sovereign wealth funds' long-term investments in Sub-Saharan Africa. The study finds that of all regions, Africa receives the lowest share of investment from sovereign wealth funds, and the landscape is dominated by Asian...

Persistent link: https://www.econbiz.de/10012570682

Insuring Growth : The Impact of Disaster Funds on Economic Reconstruction in Mexico

Sadoulet, Elisabeth; De Janvry, Alain; Del Valle, Alejandro - 2016

Climate change has considerably increased the likelihood of experiencing extreme weather events. Governments in developing countries have a limited capacity to smooth the losses created by extreme weather, and could potentially benefit from the introduction of disaster funds, that is, ex-ante...

Persistent link: https://www.econbiz.de/10012571036

Consumption Smoothing and Shock Persistence : Optimal Simple Fiscal Rules for Commodity Exporters

Mendes, Arthur; Pennings, Steven - 2017

A common criticism of balanced budget fiscal rules is that they increase the consumption volatility of financially constrained households who are unable to smooth consumption. This paper evaluates the welfare consequences of simple fiscal rules in a model of a small commodity-exporting country...

Persistent link: https://www.econbiz.de/10012570378

Sovereign Wealth Funds and Long-Term Development Finance : Risks and Opportunities

Arfaa, Noora; Gelb, Alan; Halland, Havard; Smith, Gregory; … - 2014

Sovereign wealth funds represent a large and growing pool of savings. An increasing number of these funds are owned by natural resource exporting countries and have a variety of objectives, including intergenerational equity and macroeconomic stabilization. Traditionally, these funds have...

Persistent link: https://www.econbiz.de/10012573878

Mapping Returns of Private Equity Investments in Emerging Markets

Mölders, Florian; Salgado, Edgar - 2025

This paper fills a gap in research on private equity investments in emerging markets and developing economies. It provides descriptive evidence and examines the distribution of returns across sectors such as finance, technology, and resource-intensive industries like mining, where significant...

Persistent link: https://www.econbiz.de/10015198170

Building Long-Term Portfolio Benchmarks for Pension Funds in Emerging Economies

Rudolph, Heinz; Sabat, Jorge - 2016

The movement from a defined benefit to a defined contribution pension system has important implications in the area of portfolio allocation. While the focus of defined benefit pension funds is essentially in the long term, some defined contribution funds might have incentives to invest with...

Persistent link: https://www.econbiz.de/10012570928