Oil exporters typically do not consider below-ground assets when allocating their sovereign wealth fund portfolios, and ignore above-ground assets when extracting oil. We present a unified framework for considering both. Subsoil oil should alter a fund's portfolio through additional leverage and...

Faced with income fluctuations, countries smooth their consumption by raising savings when income is high, and vice versa. How much of these savings do countries invest at home and abroad? In other words, what are the effects of fluctuations in savings on domestic investment and the current...

At the beginning of 2013 the economic activity continued to slow down – the process that started in 2012. In February 2013 the investments in fixed assets growth rates made only 100.3% in annual Terms

On December 14, 2012 Federal State Statistics Service published updated data on volumes and dynamics of investment in fixed assets in Q2 and Q3 2012. As a result, the figure for the investment in fixed assets growth rates in January-September 2012 against the corresponding period of the previous...