全球智库信息集成服务系统(G2TT): The Basilicata Wealth Fund: Resource Policy and Long-run Economic Development in Southern Italy

G2TT

来源类型	FEEM working papers "Note di lavoro" series
规范类型	论文
	The Basilicata Wealth Fund: Resource Policy and Long-run Economic Development in Southern Italy
	Roberto Iacono
发表日期	2015
出处	Climate Change and Sustainable Development
出版年	2015
语种	英语
摘要	This paper contributes to the growing political economy literature of within-country natural resources management, by proposing a new resource policy for the oil-rich southern Italian region of Basilicata. The policy proposal is to establish a (regional) wealth fund in which all the royalty revenues from non-renewable natural resource exploitation in Basilicata would be stored and fully converted into low-risk financial assets. The scope is to give priority to long-run investments as to better exploit revenues from large-scale extraction of natural capital. Establishing a wealth fund at the regional sub-national level is a novel approach that can be applied to other resource-rich regions in the world. I label the fund as the Basilicata Wealth Fund (BWF). The BWF would be a regionally owned investment fund, however independently administered from national authorities (for instance, as an independent legal entity under the jurisdiction of the Bank of Italy). In addition, the paper posits a transparent and clear-cut spending fiscal rule in order to let regional authorities use the resource revenues to finance economic policy. The clear advantage from the BWF would be the stronger focus on long-run economic development and the higher accountability, hence avoiding misuse of resource revenues for myopic fiscal spending. *** Suggested citation: Iacono, R., (2015), 'The Basilicata Wealth Fund: Resource Policy and Long-run Economic Development in Southern Italy', Nota di Lavoro 96.2015, Milan, Italy: Fondazione Eni Enrico Mattei
特色分类	O13;Q32;R11;R58
关键词	Exhaustible Natural Resources Sovereign Wealth Fund Regional Economy Long-run Economic Development Basilicata
URL	https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/the-basilicata-wealth-fund-resource-policy-and-long-run-economic-development-in-southern-italy/
来源智库	Fondazione Eni Enrico Mattei (Italy)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/118344
推荐引用方式 GB/T 7714	Roberto Iacono. The Basilicata Wealth Fund: Resource Policy and Long-run Economic Development in Southern Italy. 2015.

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文件名称/大小	资源类型	版本类型	开放类型	使用许可
20151211019501Nota_d（71KB）	智库出版物		限制开放	CC BY-NC-SA	浏览
20151211020284NDL201（1476KB）	智库出版物		限制开放	CC BY-NC-SA	浏览