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Developing Asia's Sovereign Wealth Funds and Outward Foreign Direct Investment

Park, Donghyun; Estrada, Gemma - 2009

Sovereign wealth funds (SWFs) have emerged in developing Asia as a policy response to an unprecedented accumulation of foreign exchange (FX) reserves since 2000. At the same time, developing countries have become an increasingly important source of outward foreign direct investment (FDI). The...

Persistent link: https://www.econbiz.de/10010507256

Harnessing windfall revenues: optimal policies for resource-rich developing economies

van der Ploeg, Frederick; Venables, Anthony J. - 2009

A windfall of natural resource revenue (or foreign aid) faces government with choices of how to manage public debt, investment, and the distribution of funds for consumption, particularly if the windfall is both anticipated and temporary. We show that the permanent income hypothesis prescription...

Persistent link: https://www.econbiz.de/10010276227

Is Norway's bird-in-hand stabilization fund prudent enough? : fiscal reactions to hydrocarbon windfalls and graying populations

Harding, Torfinn; van der Ploeg, Frederick - 2009

We estimate fiscal reaction functions for non-hydrocarbon tax and public spending shares of national income and for debt management strategies adopted by Norway and compare these with rules that would prevail under the permanent income hypothesis and bird-in-hand rule. We conclude that the...

Persistent link: https://www.econbiz.de/10010276231

Raising utility and lowering risk through adaptive sustainability: Society and the risk of wealth inequity in Western Australia

Andrich, Mark A.; Oxburgh, E. Ronald; Imberger, Jorg - 2009

The Index of Sustainable Functionality (ISF) makes it possible to analyse domains and the sustainability of multiple systems from various perspectives. This paper uses available household wealth and income data to calculate the resource rich state of Western Australia's ISF from different wealth...

Persistent link: https://www.econbiz.de/10010335503

Stabilization and savings funds to manage natural resource revenues: Kazakhstan and Azerbaijan vs. Norway

Lücke, Matthias - 2010

Do the sovereign wealth funds of Kazakhstan and Azerbaijan promote the sustainable use of government oil revenues? We review the operational rules and performance of the two funds and compare them to Norway's Government Pension Fund Global. The key challenges are to stabilize government...

Persistent link: https://www.econbiz.de/10010285363

Müssen wir uns vor Staatsfonds schützen?

Klodt, Henning - In: Wirtschaftsdienst 88 (2008) 3, pp. 175-180

Billionen US-Dollar, und die Fondsvolumina wachsen rasant. Wie wirkt sich das Engagement von Staatsfonds auf die inländische …, Staatsfonds durch neue gesetzliche Regeln besser kontrollieren zu können, ökonomisch gerechtfertigt? Gibt es konkrete Hinweise … darauf, welche Anlagestrategien die Staatsfonds tatsächlich verfolgen? …

Persistent link: https://www.econbiz.de/10010313714

The impact of sovereign wealth funds on global financial markets

Beck, Roland; Fidora, Michael - In: Intereconomics 43 (2008) 6, pp. 349-358

Persistent link: https://www.econbiz.de/10010272205

A tractable model of precautionary reserves, net foreign assets, or sovereign wealth funds

Carroll, Christopher D.; Jeanne, Olivier - 2009

We model the motives for residents of a country to hold foreign assets, including the precautionary motive that has been omitted from much previous literature as intractable. Our model captures many of the principal insights from the existing specialized literature on the precautionary motive,...

Persistent link: https://www.econbiz.de/10010303728

Commodities, Energy and Finance

Gnan, Ernest; Gudmundsson, Mar; Liebscher, Klaus; … - 2008

Persistent link: https://www.econbiz.de/10011689933

Sovereign wealth funds: Stylized facts about their determinants and governance

Aizenman, Joshua; Glick, Reuven - 2008

This paper presents statistical analysis supporting stylized facts about sovereign wealth funds (SWFs). It discusses the forces leading to the growth of SWFs, including the role of fuel exports and ongoing current account surpluses, and large hoarding of international reserves. It analyzes the...

Persistent link: https://www.econbiz.de/10010285299