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Tuesday 26 February 2013
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A Sovereign Wealth Fund to Lift Germany’s Curse of Excess Savings

A Sovereign Wealth Fund to Lift Germany’s Curse of Excess Savings

We suggest in this paper that the risk-adjusted rate of return on German savings could be improved by creating a sovereign wealth fund for Germany (designated DESWF), which couldinvest excess German savings globally. Creation of a DESWF should of course complement—and not substitute—for policies helping current account adjustment and funding through private sector capital flows

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  • A Sovereign Wealth Fund to Lift Germany’s Curse of Excess Savings