BIS central bankers’ speeches  1  Graph 1  Funding the boom Given that the vast bulk of the investment has been carried out by listed companies, we were able to use the financial statements of the relevant companies, both Australian and foreign, to estimate how the investment was actually funded.
This exercise involved examining the financial accounts of all the listed Australian resources companies (around 900) and 37 foreign companies. This analysis shows that since the start of the resources boom in 2003, Australian companies have raised no equity in net terms.