Working paper
The elephant in the ground: managing oil and sovereign wealth
- Abstract:
-
One of the most important developments in international finance and resource economics in the past twenty years is the rapid and widespread emergence of the $6 trillion sovereign wealth fund industry. Oil exporters typically ignore below-ground assets when allocating these funds, and ignore above-ground assets when extracting oil. We present a unified stylized framework for considering both. Subsoil oil should alter a fund's portfolio through additional leverage and hedging. First-best spendi...
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- Publication status:
- Published
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Bibliographic Details
- Publisher:
- University of Oxford Publisher's website
- Series:
- OxCarre Papers
- Publication date:
- 2013-12-31
- Paper number:
- 129
Item Description
- Keywords:
- Pubs id:
-
1143721
- Local pid:
- pubs:1143721
- Deposit date:
- 2020-12-15
Terms of use
- Copyright date:
- 2013
- Rights statement:
- Copyright 2013 The Author(s)
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