capital-scarce resource exporter. I show that capital-scarce countries should still establish a Volatility Fund, but it should … a Volatility Fund quickly, then leave it alone; and iii) Invest to stabilise the real exchange rate.The remaining four … improve absorption, vi)Invest part of the Volatility Fund domestically; and vii) Support private investment. …

capital-scarce resource exporter.  I show that capital-scarce countries should still establish a Volatility Fund, but it …) Build a Volatility Fund quickly, then leave it alone;  iii) Invest to stabilise the real exchange rate. The remaining four … improve absorption, vi) Invest part of the Volatility Fund domestically; and vii) Support private investment. …