53 Results for:

June 29, 2007

Monetary Policy
Where is China? The puzzling q1 COFER data on global reserve growth

China reported a $135.7b increase in its reserves in q1.    China doesn’t report the currency composition of its reserves to the IMF.  Its reserve total consequently usually appears in the “unalloc…

china_v_cofer

November 28, 2007

Financial Markets
What should replace the Gulf’s peg to the dollar? More on my Peterson institute policy brief

Oil and the dollar have not consistently moved in the same direction over the past ten years.     In 1997/1998, oil tanked and the dollar soared.In 2000, oil and the dollar both rose – in large par…

December 9, 2007

Financial Markets
The GCC revaluation watch continues …

The GCC leaders didn't agree to change the GCC's peg to the dollar, but the issue is not dead.  Ahmet Akarli of Goldman writes: Bahrain Foreign Minister Al-Khalifa told Reuters on Sunday that the GC…

April 24, 2008

Capital Flows
Adapting to the state’s growing role in global equity markets

Central bank purchases of traditional reserve assets still dwarf sovereign wealth fund purchases of riskier assets -- as well as central bank purchases of equities. But over time, it is reasonable …

May 12, 2008

Capital Flows
Sovereign Economic Development Funds ….

Sovereign funds argue that they are only interested in financial returns. And to be sure, they do care about financial returns. Losing money generally isn’t good for a sovereign fund’s long-term h…