| |
|
|
|
|
|
|
|
1. |
Record Nr. |
UNINA9910820445603321 |
|
|
Autore |
Das Udaibir |
|
|
Titolo |
Economics of Sovereign Wealth Funds / / Udaibir Das, Adnan Mazarei, Han Hoorn |
|
|
|
|
|
|
|
Pubbl/distr/stampa |
|
|
Washington, D.C. : , : International Monetary Fund, , 2010 |
|
|
|
|
|
|
|
ISBN |
|
1-4623-0473-7 |
1-4527-8705-0 |
1-283-53821-0 |
9786613850669 |
1-4527-2549-7 |
|
|
|
|
|
|
|
|
Edizione |
[1st ed.] |
|
|
|
|
|
Descrizione fisica |
|
1 online resource (706 p.) |
|
|
|
|
|
|
Altri autori (Persone) |
|
|
|
|
|
|
|
|
Disciplina |
|
|
|
|
|
|
Soggetti |
|
Sovereign wealth funds |
Investment of public funds |
Macroeconomics |
Banks and Banking |
Financial Risk Management |
Exports and Imports |
Investments: General |
Foreign Exchange |
Central Banks and Their Policies |
Pension Funds |
Non-bank Financial Institutions |
Financial Instruments |
Institutional Investors |
Monetary Policy |
International Investment |
Long-term Capital Movements |
Financial Crises |
General Financial Markets: General (includes Measurement and Data) |
Economic & financial crises & disasters |
Banking |
Finance |
International economics |
Financial crises |
Central banks |
Asset and liability management |
|
|
|
|
|
|
|
|
|
|
|
|
Global financial crisis of 2008-2009 |
International reserves |
Investment policy |
National accounts |
Foreign direct investment |
Balance of payments |
Currency crises |
Banks and banking, Central |
Foreign exchange reserves |
Global Financial Crisis, 2008-2009 |
Saving and investment |
Financial services industry |
|
|
|
|
|
|
Lingua di pubblicazione |
|
|
|
|
|
|
Formato |
Materiale a stampa |
|
|
|
|
|
Livello bibliografico |
Monografia |
|
|
|
|
|
Note generali |
|
Description based upon print version of record. |
|
|
|
|
|
|
Nota di bibliografia |
|
Includes bibliographical references and index. |
|
|
|
|
|
|
Nota di contenuto |
|
Cover Page; Copyright Page; Content Page; Boxes; Tables; Figures; Foreword; Acknowledgments; Introduction; Abbreviations and Acronyms; Section I Role And Macrofinancial Relevance; 1 Demystifying Sovereign Wealth Funds; Understanding the Rise of SWF's; Figure 1.1. Petrodollar and Asian SWF's Rank Among the Largest; Figure 1.2. Foreign Reserves in Central Banks Account for 90 Percent of Asian Sovereign Foreign Assets; The Diverse Aims and Investment Strategies of SWF's; Figure 1.3. SWF Investment Strategies Vary Widely; SWFs Remain Powerful, Despite the Financial Crisis |
Figure 1.4. SWF Assets Held Steady in 2008 SWF's Will Remain Long-Term Investors, but the Crisis Has Prompted Some Shifts; SWF's Will Continue to Grow; Figure 1.5. SWF Assets Could Reach US 4.3 Trillion by 2013; References; 2 From Reserves Accumulation to Sovereign Wealth Fund: Policy and Macrofinancial Considerations; Adequate Level of Foreign Reserves; Options for Ample Reserves; Support from the SWF in a Financial Crisis; Macrofinancial Linkages Associated with Management of an SWF; Conclusion; References; 3 Sovereign Wealth Funds: New Economic Realities and the Political Responses |
Cross-Border Investments: Toward a Global Diffusion of Corporate Ownership? Figure 3.1. Regional Distribution of Assets Held by Sovereign Investors, Percentage of Total, May 2010; Figure 3.2. Financial Assets and Markets Worldwide, by Volume; Figure 3.3. Sovereign Investments and Asset Sales, 1995-2009; Figure 3.4. Sovereign Investments by Size of Acquired Stakes; Figure 3.5. Projected Growth in SWF Assets through 2020; SWF's as Foreign Investors in the United States and the EU: The Policy Issues; Figure 3.6. Effects of SWF Investments on Bank Share Prices |
Policy Responses: A Danger of Protectionist Reflexes?The International Dimension: Ensuring Open Markets in a Fragmented Regulatory Environment; Good Conduct by SWF's: The Key to Greater Acceptance in Recipient Countries; Conclusion: The Global Perspective; References; 4 Sovereign Wealth Funds and Economic Policy at Home; The Role of an SWF Within the Overall Macroeconomic Policy Framework; Box 4.1. SWF's' Objectives: Selected Examples; Box 4.2. SWF's and the Global |
|
|
|
|
|
|
|
|
|
|
|
Financial Crisis; Accountability; Conclusion; References; Section II Institutional Factors |
5 Sovereign Wealth Funds and the Santiago Principles SWF's: Objectives and Taxonomy; Issues Surrounding SWF's; The IWG and the Development of the Santiago Principles; The Key Features of the Santiago Principles; Box 5.1. The Santiago Principles: Elements Addressing Issues Raised; Concluding Observations and the Road Ahead; References; 6 Legal Underpinnings of Capital Account Liberalization for Sovereign Wealth Funds; Domestic Law; International Law; International Law Under the IMF's Articles of Agreement; IMF Jurisdiction over Restrictions on Current Payments |
Soft Law Through the Santiago Principles |
|
|
|
|
|
|
Sommario/riassunto |
|
The book covers a wide range of topics of relevance to policymakers in countries that have sovereign wealth funds (SWFs) and those that receive SWF investments. Renowned experts in the field have contributed chapters. The book is organized around four themes: (1) the role and macrofinancial linkages of SWFs, (2) institutional factors, (3) investment approaches and financial markets, and (4) the postcrisis outlook. The book also discusses the challenges facing sovereign wealth funds in the coming years, from an inside perspective on countries, including Canada, Chile, China, Norway, Russia, and New Zealand. Economics of Sovereign Wealth Funds will contribute to a further understanding of the nature, strategies and behavior of SWFs and the environment in which they operate, as their importance is likely to grow in the coming years. |
|
|
|
|
|
|
|
| |