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Australia: Selected Issues
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2005: Issue 330
Language:
English
Publication Date:
12 Sep 2005
DOI:
https://doi.org/10.5089/9781451802078.002
ISBN:
9781451802078
ISSN:
1934-7685
Pages:
42
Keywords:
ISCR; CR; Australia; investor; gain; stock index; diversification; FF proposal; FF investment; diversification increase; FF portfolio; Asia index; gains from diversification; asset price; certainty-equivalent wealth; Financial integration; Exchange rates; Pension spending; Stocks; Pensions; Asia and Pacific; Global
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This Selected Issues paper reviews how Australia’s economy has adapted to a flexible Australian Dollar. The paper provides a background on the float and the initial policy challenges. It discusses the main elements of the Future Fund proposal, and estimates how much Australia and other countries in the Asia-Pacific region would gain from greater financial integration. The results suggest that these welfare gains are large, giving an argument in favor of a progressive capital account liberalization across the region, once the needed supporting measures are in place.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund