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dc.contributor.advisorNeira Gómez, María Isabel
dc.contributor.authorSuárez Liste, Jesús Manuel
dc.date.accessioned2019-11-29T12:17:16Z
dc.date.available2019-11-29T12:17:16Z
dc.date.issued2019
dc.identifier.urihttp://hdl.handle.net/10347/20352
dc.description.abstractThis thesis explores the determinants of sovereign gold reserves financial performance in comparison with those of gold reserve levels. The sample comprises 100 countries from 2000 to 2014. A dynamic panel generalized method of moments model is used to estimate the influence of development and other macroeconomic, trade, financial and risk determinants on gold reserves levels and financial performance. Results indicate that most countries display negative sovereign gold reserves financial performance –due to poor transaction timing– and reveal the existence of a sizeable positive sign statistical association between performance, development and governance. Both sovereign gold reserves financial performance and reserve levels appear to be also affected by other macroeconomic, trade, financial and risk determinants, although the signs of the statistical associations identified often differ for performance and gold reserves levels. The losses incurred by central banks in their gold transactions and the fact that this phenomenon seems to be more prevalent in developing countries recommend periodic performance assessments and capacity building among gold reserve managers.
dc.language.isoeng
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 Internacional
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/
dc.subjectFinanzas internacionales
dc.subjectreservas soberanas de oro
dc.subjectdesempeño financiero
dc.subject.classificationMaterias::Investigación::53 Ciencias económicas::5310 Economía internacional::531006 Financiación internacional
dc.titleSovereign gold reserves management in developing and developed countries: a comparative study
dc.typedoctoral thesis
dc.rights.accessRightsopen access
dc.contributor.affiliationUniversidade de Santiago de Compostela. Centro Internacional de Estudos de Doutoramento e Avanzados (CIEDUS)
dc.contributor.affiliationUniversidade de Santiago de Compostela. Escola de Doutoramento Internacional en Artes e Humanidades, Ciencias Sociais e Xurídicas
dc.contributor.affiliationUniversidade de Santiago de Compostela. Programa de Doutoramento en Economía e Empresa


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