| Description |
1 online resource (36 pages) |
| Series |
IMF Working Paper ; WP/18/26 |
|
IMF working paper ; WP/18/26.
|
| Contents |
Cover; Contents; Abstract; I. Introduction; II. Macroeconomic and Financial Linkages; III. Sovereign Wealth Fund Strategy and Sovereign Asset and Liability Management; IV. Asset and Debt Management with a Growing SWF; V. Asset and Debt Management with a Financing Gap; VI. Conclusion; Tables; 1. Stylized Sovereign Balance Sheet; 2. Formulation of Investment Strategy; Figures; 1. Combinations of Liquidity Access and Liquidity Exposure; 2. A Stylized Illustration of the Accumulation of Resources in the SWF; 3. Linkages between Closing Financing Gap and Sovereign Asset; Box |
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1. Saving and Investment Decision in the Context of Natural Resource Wealth2. Financing Funds; 3. The Role of SWFs in Closing Financing Gaps; Appendices; I. SWF Asset Accumulation and Revenue Projection Models; II. Inflow and Outflow Rules of Selected Sovereign Wealth Funds; III. Considerations in Investment and Risk Management |
| Summary |
Commodity-based sovereign wealth funds (SWFs) have been at a crossroads following the recent fall in commodity prices. This paper provides a framework for commodity-based SWF management, focusing on stabilization and savings funds, by (i) examining macrofiscal linkages for SWFs; (ii) presenting an integrated sovereign asset and liability management (SALM) approach to SWF management; and (iii) applying this framework to a scenario where assets are being accumulated and to a scenario where the SWF is drawn on to cover a financing gap due to lower commodity prices |
| Notes |
Print version record |
| Subject |
Acquisitions.
|
|
Portfolio Choice.
|
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Pension Funds.
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International Financial Markets.
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Financing Policy.
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| Form |
Electronic book
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| Author |
Brake, Sue, author
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Papaioannou, Michael G., author.
|
| ISBN |
9781484341049 |
|
148434104X |
|
1484340965 |
|
9781484340967 |
|
