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

Phil Garton
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Phil Garton: Treasury, Government of Australia

Economic Roundup, 2012, issue 2, 19-38

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.

Keywords: foreign direct investment; resources boom; sovereign wealth funds (search for similar items in EconPapers)
JEL-codes: F21 Q33 (search for similar items in EconPapers)
Date: 2012
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