Sovereign wealth funds in the Pacific Island countries : macro-fiscal linkages /

This paper looks at the role Sovereign Wealth Funds have played in the Pacific Island Countries in achieving key macro-fiscal policy objectives, namely, protecting the budget from high revenue volatility and strengthening fiscal prospects. Evidence shows that the funds' effectiveness has been h...

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Bibliographic Details
Author / Creator:Le Borgne, Eric, author.
Imprint:[Washington, D.C.?] : International Monetary Fund, 2007.
Description:1 online resource (29 pages) : illustrations.
Language:English
Series:IMF working paper ; WP/07/297
IMF working paper ; WP/07/297.
Subject:Wealth -- Islands of the Pacific -- Management.
Fiscal policy -- Islands of the Pacific.
Finance, Public -- Islands of the Pacific.
Richesse -- Pacifique, Îles du -- Gestion.
Politique fiscale -- Pacifique, Îles du.
Finances publiques -- Pacifique, Îles du.
Finance, Public.
Fiscal policy.
Pacific Ocean -- Islands of the Pacific.
Electronic books.
Electronic books.
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12495496
Hidden Bibliographic Details
Other authors / contributors:Medas, Paulo A., author.
International Monetary Fund. Fiscal Affairs Department, Issuing body.
ISBN:1283513285
9781283513289
Digital file characteristics:text file
Notes:Includes bibliographical references (pages 24-25).
Restrictions unspecified
Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
Summary:This paper looks at the role Sovereign Wealth Funds have played in the Pacific Island Countries in achieving key macro-fiscal policy objectives, namely, protecting the budget from high revenue volatility and strengthening fiscal prospects. Evidence shows that the funds' effectiveness has been hampered by lack of integration with the budget, institutional weaknesses, and inadequate controls. These factors, together with weak asset management, have sometimes led to substantial financial losses and undermined fiscal policy. Funds, if well designed, could be used as a tool to support a sound fiscal framework, but should not be seen as a substitute for fiscal reforms.
Other form:Print version: Le Borgne, Eric. Sovereign wealth funds in the Pacific Island countries. [Washington, D.C.?] : International Monetary Fund, 2007