Sovereign wealth funds and the exchange rate: comparing resource booms in Australia, Chile and Norway
AbstractThe 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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Bibliographic InfoArticle provided by Treasury, Australian Government in its journal Economic Roundup.
Volume (Year): (2012)
Issue (Month): 2 (August)
foreign direct investment; resources boom; sovereign wealth funds;
Find related papers by JEL classification:
- F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
- Q33 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Resource Booms (Dutch Disease)
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- 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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