Palgrave Macmillan Home
Login or Register    Shopping Basket Shopping Basket
Search 
 
 
 
 
The Political Economy of Sovereign Wealth Funds
 
   Enlarge Image
 
 
The Political Economy of Sovereign Wealth Funds
Edited by Xu Yi-chong and Gawdat Bahgat
 
 
Palgrave Macmillan
 
 
 
 
 
13 Oct 2010
|
£66.00
|Hardback Print on Demand
  
9780230241091
||
 
 
eBooks ebook on Palgrave Connect  ebook available via library subscriptions ebook on ebooks.com 
 
 


OrderHelpBox
                                                                                                                                              returns, payment and delivery


DescriptionContentsAuthors

Sovereign wealth funds (SWFs) have generated controversy because of their size, the speed of their growth, their ownership, their investment decisions and, most importantly, what they stand for in a changing global economy – a new group of investors controlled, managed and backed by states. The debate initially tilted towards those countries receiving the most investment: investment from SWFs was threatening the national interest by hollowing out their economies and flagship companies, taking over resources and controlling their infrastructure. Politicians in some OECD countries even managed to create an atmosphere that SWFs were the 'Trojan horse' of non-democratic countries, undermining their political and economic systems and stealing their national wealth. This book provides a counter-balance: a comparative study of the seven largest SWF-holding countries primarily from a domestic perspective. In the volume, several contributors conclude that the creation and operation of these SWFs would appear to be driven more by domestic politics than external considerations. This calls for a radical re-examination of the impact of the SWFs from non-OECD countries, as well as the reaction and response to them by the United States and EU/OECD.


Description

Sovereign wealth funds (SWFs) have generated controversy because of their size, the speed of their growth, their ownership, their investment decisions and, most importantly, what they stand for in a changing global economy – a new group of investors controlled, managed and backed by states. The debate initially tilted towards those countries receiving the most investment: investment from SWFs was threatening the national interest by hollowing out their economies and flagship companies, taking over resources and controlling their infrastructure. Politicians in some OECD countries even managed to create an atmosphere that SWFs were the 'Trojan horse' of non-democratic countries, undermining their political and economic systems and stealing their national wealth. This book provides a counter-balance: a comparative study of the seven largest SWF-holding countries primarily from a domestic perspective. In the volume, several contributors conclude that the creation and operation of these SWFs would appear to be driven more by domestic politics than external considerations. This calls for a radical re-examination of the impact of the SWFs from non-OECD countries, as well as the reaction and response to them by the United States and EU/OECD.


Contents

The Political Economy of Sovereign Wealth Funds; X.Yi-chong
Contributing to a Harmonious Society: China's Sovereign Wealth Fund; L.H Liew & L.He
Between Principles and Politics: The Pragmatic Practice of Singapore's Sovereign Wealth Funds; Y.C.L.Lee
Kuwait Investment Authority - An Assessment; G.Bahgat
Sovereign Wealth Funds in the United Arab Emirates; J.A.Kéchichian
Russia's SWFs: Controlled by a Domestic Agenda; S.Fortescue
Some Macroeconomic Implications of the Future Fund; J.Freebairn
The Political Economy of Australia's Future Fund - The Political Dimension; R.Eccleston
Aboriginal Investment Funds in Australia; C.O'Faircheallaigh
Norway - The Accidental Role Model; B.S.Tranøy
Nationalism or Capitalism? Sovereign Wealth Funds of Non-OECD Countries; J.Ø.Møller
The United States Policy on Sovereign Wealth Funds' Investments; G.Bahgat
Global Disequilibria; X.Yi-chong


Authors

XU YI-CHONG is Research Professor at the Centre for Governance and Public Policy, Griffith University, Australia. Xu has written on energy security and international organizations. Her work includes Powering China, Electricity Reform in China, India and Russia, The Governance of World Trade and Inside the World Bank.

GAWDAT BAHGAT is Professor of Political Science at the Near East South Asia, Center for Strategic Studies, National Defence University, USA. His book publications include: American Oil Diplomacy in the Persian Gulf and the Caspian Sea, Israel and the Persian Gulf: Retrospect and Prospect and Nuclear Proliferation in the Middle East. He has published numerous articles on the Persian Gulf and the Caspian Sea in scholarly journals.