Arbeitspapier

Governance of Crown Financial Assets

This paper investigates the agency problems associated with the public management of a large financial asset portfolio. After considering the relevant theoretical and empirical literature, a set of institutional arrangements are presented that should reduce the extent of the potential agency problems faced. Key design features include: mechanisms for enhancing policy credibility; the use of existing market mechanisms and regulation where possible; and the creation of a public-sector institution to perform administrative functions. The paper does not consider the issues of optimal fiscal policy, or the appropriate risk tolerance for the Crown, although the conclusions drawn from this study may contribute to these debates.

Sprache
Englisch

Erschienen in
Series: New Zealand Treasury Working Paper ; No. 98/02

Klassifikation
Wirtschaft

Ereignis
Geistige Schöpfung
(wer)
Davis, Nick
Ereignis
Veröffentlichung
(wer)
New Zealand Government, The Treasury
(wo)
Wellington
(wann)
1998

Handle
Letzte Aktualisierung
10.03.2025, 11:42 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Davis, Nick
  • New Zealand Government, The Treasury

Entstanden

  • 1998

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