scholarly journals What Explains the Size of Sovereign Wealth Funds?

2014 ◽  
Vol 4 (1) ◽  
Author(s):  
Antonia Ficova ◽  
Juraj Sipko
Keyword(s):  
Inflation Rate ◽  
Least Squares Method ◽  
Mean Value ◽  
Balance Of Payments ◽  
Gdp Growth ◽  
Foreign Exchange Reserves ◽  
Sovereign Wealth Funds ◽  
The Public ◽  
Rate Of Growth ◽  
Rapid Appearance

Abstract Reasons for the rapid appearance and growth of SWFs is contributed by increase in oil prices and the accumulation of large balance-of-payments surpluses. Purpose of the article is to investigate size of observed Sovereign Wealth Funds in 2013. Moreover, to describe what explain differences in the size of SWFs, on the other hand what determines the amount of foreign exchange reserves. Is the size of observed funds closely related to rate of growth of the countries? Is return of observed funds is closely related to fund value bn USD, GDP growth (annual %) and inflation rate of the country? Methodology/methods deployed in this paper has been done illustrations by using available data from official websites of funds, Sovereign Wealth Fund Institute, International Monetary Fund, CIA The World Factbook and author’s calculations due the fact that most of funds do not provide data to the public. In addition to this, we present the estimations by using regression analysis, transferring observed data using the least squares method, The two-sample t-test for mean value, ANOVA, TINV. Scientific aim is to examine whether AUM of SWFs, moreover the size of 14 observed funds is closely related to rate of growth of the countries at 90 percent of probability. Second, if return of 14 observed funds is closely related to fund value bn USD, GDP growth (annual %) and inflation rate of the country at 95 percent of probability. Third, if there are significant differences between return in 2010 and 2013. Findings indicates that paper came to the conclusion that the return of 14 observed funds is closely related to fund value bn USD, GDP growth (annual %) and inflation rate of the country at 95 percent of probability. Furthermore, there are significant differences between return in 2010 and 2013. Conclusions (limits, implications etc) pointed out that the influence of SWFs has become undeniable, with total assets topping 6,585tn USD in June 2014, these investors have reached a size comparable to that of the entire alternative assets industry.

ANALISIS INFLASI, CADANGAN DEVISA, DAN NERACA PEMBAYARAN TERHADAP PERUBAHAN KURS DAN PERTUMBUHAN EKONOMI PADA 10 NEGARA BERKEMBANG

2020 ◽  
Vol 22 (2) ◽  
pp. 238-254
Author(s):  
Sindu Bagas Kurniawan ◽  
Tri Ratnawati ◽  
Nekky Rahmiyati
Keyword(s):  
Economic Growth ◽  
Exchange Rate ◽  
Foreign Exchange ◽  
Inflation Rate ◽  
Measurement Model ◽  
Balance Of Payments ◽  
Partial Least Square ◽  
Least Square ◽  
Foreign Exchange Reserves ◽  
The Exchange Rate

Abstract: In developing countries there are several ways to grow theireconomy, many factors influence. One of them is the inflation rate, foreignexchange reserves and balance of payments. In addition, the inflation rate,foreign exchange reserves and balance of payments can affect theexchange rate of a country's currency. So from that the researcher wants toknow how much influence the inflation rate, foreign exchange reserves andbalance of payments on currency exchange rates and economic growth indeveloping countries. This study will use a sample of 10 developingcountries in the Asian region, and this study will use quantitative descriptivemethods. This study will use secondary data which is then processed usingthe Partial Least Square (PLS) measurement model. The results of this studyare the inflation rate and balance of payments have a positive effect onchanges in the exchange rate of a country's currency, while the position offoreign exchange reserves has a negative effect. Then the inflation rate,foreign exchange reserves and balance of payments have a positive effecton a country's economic growth, while the exchange rate of a country'scurrency negatively affects a country's economic growth.Keyword : Inflation rate, Foreign Exchange, Balance of Payment, Exchangerate, Economic Growt

scholarly journals Minnesota—too late for a Sovereign Wealth Fund?

2021 ◽  
Author(s):  
Christopher R. McIntosh ◽  
Neil A. Wilmot ◽  
Adrienne Dinneen ◽  
Jason F. Shogren
Keyword(s):  
Renewable Resources ◽  
Iron Ore ◽  
Inflation Rate ◽  
Supply And Demand ◽  
Sovereign Wealth Funds ◽  
Funding Mechanism ◽  
Investment Return ◽  
Investment Returns ◽  
Fund Size ◽  
Forward Looking

AbstractTen states have created natural-resource-based Sovereign Wealth Funds (SWF) to allow a fraction of the wealth derived from the extraction of non-renewable resources to be available for future use. Minnesota does not have a SWF, even though companies have been mining in the state for over 100 years. Herein, we present backward and forward-looking scenarios to estimate the potential magnitude of a “what-if” extraction-based fund. A 1.5% of value tax is suggested as an SWF funding mechanism. Based on historical extraction, prices, and investment returns, a large SWF could already exist. In the forward-looking section, we begin by econometrically estimating the supply and demand of US iron ore production to better understand how an increase in mining taxes would likely effect mining output (i.e., the production effect). After accounting for an estimated 4% production loss, results suggest enough minerals could still be extracted to create a permanent fund with between $930 million (US) and $1.6 billion dollars (US) in direct contributions by 2050 (depending on price). Using reasonable assumptions of a 2% inflation rate and a 5% annual investment return, the fund size could range from $3 billion to $5 billion by 2050.

A revisit of the unemployment rate, interest rate, GDP growth and Inflation of Pakistan: Whether Structural break or unit root?

2021 ◽  
Vol 3 (2) ◽  
pp. 80-92
Author(s):  
Sara Muhammadullah ◽  
Amena Urooj ◽  
Faridoon Khan
Keyword(s):  
Interest Rate ◽  
Unemployment Rate ◽  
Unit Root ◽  
Structural Breaks ◽  
Inflation Rate ◽  
Structural Break ◽  
Unit Root Test ◽  
Unit Root Tests ◽  
Gdp Growth ◽  
Macroeconomic Indicators

The study investigates the query of structural break or unit root considering four macroeconomic indicators; unemployment rate, interest rate, GDP growth, and inflation rate of Pakistan. The previous studies create ambiguity regarding the stationarity and non-stationarity of these variables. We employ Zivot & Andrews (1992) unit root test and Step Indicator Saturation (SIS) method for multiple break detection in mean. GDP growth and inflation rate are stationary at level whereas unit root tests fail to reject the null hypothesis of the unemployment rate and interest rate at level. However, Zivot and Andrew unit root test with a single endogenous break indicates that the unemployment rate and interest rate are stationary at level with a single endogenous break. On the other hand, the SIS method reveals that the series are stationary with multiple structural breaks. It is inferred that it is inappropriate to take the first difference of the unemployment rate and interest rate to attain stationarity. The results of this study confirmed that there exist multiple breaks in the macroeconomic variables considered in the context of Pakistan.

The Portuguese Road to Neoliberalism (1976–1989)

2021 ◽  
pp. 1-16
Author(s):  
Ricardo Noronha
Keyword(s):  
Public Sphere ◽  
Balance Of Payments ◽  
Political Debate ◽  
State Planning ◽  
The Public ◽  
Development Models ◽  
Market Order ◽  
Privatisation Programme ◽  
Market Approach ◽  
The Public Sphere

The Portuguese constitution, passed in April 1976, considered the nationalisations undertaken after the Carnation Revolution to be ‘irreversible’, prescribing a development model based on state planning. Changes made to the constitutional text, in 1989, allowed for a privatisation programme that curtailed government intervention and reinforced market provision. This mirrored a previous shift in the public sphere. Whereas political debate in 1976 was mostly centred on state-led development models, the next decade witnessed the rise of a pro-market approach. Two crises of the balance of payments encouraged a growing number of economists, businessmen, journalists and politicians to argue for the need to revise the constitution, enhancing the role and scope of markets. This article focuses on the rise of a neoliberal intellectual field in Portugal between 1976 and 1989, analysing its efforts to overcome the legacy of the Carnation Revolution and build a competitive market order in a semiperipheral context.

MÜASİR ŞƏRAİTDƏ AZƏRBAYCANIN VALYUTA SİYASƏTİNİN TƏKMİLLƏŞDİRİLMƏSİ VƏZİFƏLƏRİ VƏ İSTİQAMƏTLƏRİ

2020 ◽  
Vol 54 (05) ◽  
pp. 122-125
Author(s):  
Kamil Sayavush Demirli ◽  
Keyword(s):  
Monetary Policy ◽  
Key Words ◽  
Foreign Exchange ◽  
Oil And Gas ◽  
Balance Of Payments ◽  
International Capital ◽  
Foreign Exchange Reserves ◽  
Commodity Trade ◽  
Transit Service ◽  
Gas Balance

Key words: monetary policy, commodity trade foreign exchange reserves, balance of payments, oil and gas, balance, transportation, transit service, international, capital, perspective

scholarly journals Assessment of Solid Mineral to Soil Radioactivity Contamination Index in Selected Mining Sites and their Radiological Risk Indices to the Public

2021 ◽  
Author(s):  
Ezekiel Oghenenyerhovwo Agbalagba ◽  
Mohammed S. Chaanda ◽  
Stephen Uloho U. Egarievwe
Keyword(s):  
Mean Value ◽  
Soil Samples ◽  
Permissible Limit ◽  
Radiation Hazard ◽  
Hazard Indices ◽  
Mean Values ◽  
Mining Sites ◽  
The Public ◽  
Risk Indices ◽  
Gamma Index

Abstract This study examined the radioactivity levels of soil samples within selected solid mining sites in Nigeria using high purity germanium (HpGe) detector. Sixty soil samples in all were collected from the ten solid mineral mining sites investigated and six samples were collected as control samples from non-mining environment for analyses. The results of the activity concentration values obtained for 40K, 226Ra and 232Th are 100.22 Bq kg-1, 33.15 Bq kg-1 and 77.31 Bq kg-1 respectively. The 226Ra and 40K activities were found to be within the United Nation Scientific Committee on the Effects of Atomic Radiation (UNSCEAR) acceptable permissible limit, but the 232Th mean value was above the permissible limit of 30 Bq kg-1 for the public. In comparison, 40K, 226Ra and 232Th soil samples mean activity concentrations were higher than the control soil samples values by 48.6%, 43.7% and 62.3% respectively. The results of estimated radiation hazard indices indicate average values of 150.72 Bq kg-1, 68.40T, 83.65µSvy-1 and 454.70µSvy-1 for the Radium Equivalent (h), iDose Equivalent (AEDE) and Annual Gonadal Equivalent Dose (AGED) respectively. The mean values for External Hazard Indices (Hex, Hin), Representative Gamma index (s) and Excess Life Cancer Risk (ELCR) were 0.41, 0.50, 1.06 and 0.29 x10-3 respectively. The statistical analysis shows positive skewness.

Prospects for the UK Economy

2007 ◽  
Vol 202 ◽  
pp. 42-60
Author(s):  
Ehsan Khoman ◽  
Simon Kirby
Keyword(s):  
Economic Growth ◽  
Gdp Growth ◽  
Preliminary Estimate ◽  
The Third ◽  
Rate Of Growth ◽  
The Uk ◽  
Domestic Impact

GDP growth in the second quarter of this year remained robust at a quarterly rate of growth of 0.8 per cent. With revisions to previous quarters, economic growth has been maintained at this rate since the end of 2006. NIESR's monthly estimate of GDP showed this robust growth continuing into the third quarter of this year. The official preliminary estimate confirms the pattern of robust growth continuing into the third quarter of this year (figure 1). In light of this we have revised our forecast for GDP growth this year up from 2.8 per cent to 3.1 per cent. We have revised down our forecast for GDP growth in 2008 from 2.6 to 2.2 per cent. This reflects weaker net trade, with the recent financial turmoil having only a small domestic impact.

Guidance Note for Surveillance Under Article IV Consultations

Policy Papers ◽  
2015 ◽  
Vol 09 ◽  
Author(s):  
Keyword(s):  
Financial Stability ◽  
Balance Of Payments ◽  
Policy Options ◽  
Executive Board ◽  
Financial Policies ◽  
The Public ◽  
Guidance Note ◽  
Formal Requirements ◽  
Policy Adjustments ◽  
Operational Guidance

This note provides country teams with guidance on bilateral and multilateral surveillance in the context of Article IV consultations. It covers the following issues: Focus on stability. Stability is the organizing principle of surveillance. Article IV consultations should focus on the conduct of economic and financial policies pursued by members to promote present and prospective domestic and balance of payments stability, as well as global economic and financial stability. For the latter, Article IV consultations should discuss spillovers from members’ economic and financial policies that may significantly affect global stability, including alternative policy options that would minimize their adverse impact. Operational guidance. The note provides detailed guidance, suggestions and references in areas covered in surveillance including risks and spillovers, fiscal policy, macrofinancial and monetary policy, BOP stability, structural policies and data issues. Communication and Engagement. Effective two-way communication is key to surveillance, including with the authorities (to help staff’s advice get traction), the Executive Board (to support effective peer review), and the public and other stakeholders (to gain support for necessary policy adjustments). Surveillance messages need to be clear, concise, and focused. The Fund needs to be evenhanded, in line with the principle of uniformity of treatment, for surveillance to command the confidence of the membership. Process and formal requirements. A number of procedures, rules, and requirements are summarized in this note.

Peruvian growth will again disappoint this year

2019 ◽  
Keyword(s):  
Foreign Investment ◽  
Public Investment ◽  
Domestic Demand ◽  
Balance Of Payments ◽  
Export Market ◽  
Gdp Growth ◽  
Content Type ◽  
High Level ◽  
Poverty Levels ◽  
Roll Back

Subject Outlook for Peruvian growth. Significance With both external and domestic demand ebbing in the first few months of 2019, forecasters are reducing their estimates for GDP growth in 2019. Peru is exposed to a slowdown in growth in China, since it is by far its biggest export market and the main source of foreign investment. Public investment also appears to be slower than in previous years. Impacts Slower growth will impact negatively on employment and risk pushing up poverty levels. Business groups will increase their pressure on government to roll back social legislation on matters like labour stability. The relatively high level of reserves will cushion Peru from balance of payments pressures.

scholarly journals Determination of DNA Content of Aquatic Bacteria by Flow Cytometry

2001 ◽  
Vol 67 (4) ◽  
pp. 1636-1645 ◽  
Author(s):  
D. K. Button ◽  
Betsy R. Robertson
Keyword(s):  
Flow Cytometry ◽  
Dna Content ◽  
Mean Value ◽  
Seawater Sample ◽  
Cell Permeability ◽  
Bacterial Isolates ◽  
Mean Values ◽  
Rate Of Growth ◽  
Pure Cultures ◽  
Specific Affinity

ABSTRACT The distribution of DNA among bacterioplankton and bacterial isolates was determined by flow cytometry of DAPI (4′,6′-diamidino-2-phenylindole)-stained organisms. Conditions were optimized to minimize error from nonspecific staining, AT bias, DNA packing, changes in ionic strength, and differences in cell permeability. The sensitivity was sufficient to characterize the small 1- to 2-Mb-genome organisms in freshwater and seawater, as well as low-DNA cells (“dims”). The dims could be formed from laboratory cultivars; their apparent DNA content was 0.1 Mb and similar to that of many particles in seawater. Preservation with formaldehyde stabilized samples until analysis. Further permeabilization with Triton X-100 facilitated the penetration of stain into stain-resistant lithotrophs. The amount of DNA per cell determined by flow cytometry agreed with mean values obtained from spectrophotometric analyses of cultures. Correction for the DNA AT bias of the stain was made for bacterial isolates with known G+C contents. The number of chromosome copies per cell was determined with pure cultures, which allowed growth rate analyses based on cell cycle theory. The chromosome ratio was empirically related to the rate of growth, and the rate of growth was related to nutrient concentration through specific affinity theory to obtain a probe for nutrient kinetics. The chromosome size of aMarinobacter arcticus isolate was determined to be 3.0 Mb by this method. In a typical seawater sample the distribution of bacterial DNA revealed two major populations based on DNA content that were not necessarily similar to populations determined by using other stains or protocols. A mean value of 2.5 fg of DNA cell−1was obtained for a typical seawater sample, and 90% of the population contained more than 1.1 fg of DNA cell−1.

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