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Sovereign wealth funds and the exchange rate: comparing resource booms in Australia, Chile and Norway

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  • Phil Garton

    (Treasury, Government of Australia)

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    Abstract

    The idea of Australia establishing a sovereign wealth as a response to the challenges posed by the resource boom has attracted considerable interest. Some argue that a fund investing in foreign assets, as is done in Chile and Norway, could ease pressures on trade-exposed industries resulting from the high Australian dollar. This article examines how effective this might be, drawing on comparative experience in recent resource booms in the three economies.

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    File URL: http://www.treasury.gov.au/~/media/Treasury/Publications%20and%20Media/Publications/2012/Economic%20Roundup%20Issue%202/Downloads/02_Sovereign_wealth_fund.ashx
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    Bibliographic Info

    Article provided by Treasury, Australian Government in its journal Economic Roundup.

    Volume (Year): (2012)
    Issue (Month): 2 (August)
    Pages: 19-38

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    Handle: RePEc:tsy:journl:journl_tsy_er_2012_2_2

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    Related research

    Keywords: foreign direct investment; resources boom; sovereign wealth funds;

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    Cited by:
    1. Phil Garton & Danial Gaudry & Rhett Wilcox, 2012. "Understanding the appreciation of the Australian dollar and its policy implications," Economic Roundup, Treasury, Australian Government, issue 2, pages 39-61, August.

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