The macroeconomics of sovereign wealth funds

McKenzie, Margaret 2009, The macroeconomics of sovereign wealth funds, in Proceedings of the 2009 Financial Crises : Causes, Charateristics & Effects, Edith Cowan University, Perth, W.A., pp. 1-27.

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Title The macroeconomics of sovereign wealth funds
Author(s) McKenzie, Margaret
Conference name Financial Crises : Causes, Charateristics & Effects (2009 : Perth, Western Australia)
Conference location Perth, Western Australia
Conference dates 23-25 November 2009
Title of proceedings Proceedings of the 2009 Financial Crises : Causes, Charateristics & Effects
Editor(s) [Unknown]
Publication date 2009
Conference series Financial Crises: Causes, Characteristics and Effects Conference
Start page 1
End page 27
Total pages 27
Publisher Edith Cowan University
Place of publication Perth, W.A.
Summary The dramatic growth in sovereign wealth funds (SWFs) has implications which are still emerging for national economies and globally. This paper considers why SWFs have become key international financial institutions for some countries, particularly developing ones. This adds to the literature on second best development strategies (Hausmann and Rodrik 2003), here applying it to SWFs. A macroeconomic approach is taken towards the phenomenon of reserves accumulation and motives for SWFs. These are evaluated in terms of the pattern of balance of payments and inferred trade and exchange policies. The role of SWFs in promoting country growth and international stability is considered in view of the global financial crisis (GFC).
Language eng
Field of Research 140210 International Economics and International Finance
Socio Economic Objective 910101 Balance of Payments
HERDC Research category E1 Full written paper - refereed
Persistent URL http://hdl.handle.net/10536/DRO/DU:30023883

Document type: Conference Paper
Collections: Faculty of Business and Law
School of Accounting, Economics and Finance
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