LEADER 05721nam 2200757Ia 450 001 9910451799803321 005 20200520144314.0 010 $a1-4623-0473-7 010 $a1-4527-8705-0 010 $a1-283-53821-0 010 $a9786613850669 010 $a1-4527-2549-7 035 $a(CKB)2550000000102022 035 $a(EBL)1586782 035 $a(SSID)ssj0001107455 035 $a(PQKBManifestationID)11602000 035 $a(PQKBTitleCode)TC0001107455 035 $a(PQKBWorkID)11082866 035 $a(PQKB)11578488 035 $a(SSID)ssj0000655563 035 $a(PQKBManifestationID)12260699 035 $a(PQKBTitleCode)TC0000655563 035 $a(PQKBWorkID)10596244 035 $a(PQKB)11670164 035 $a(MiAaPQ)EBC1586782 035 $a(Au-PeEL)EBL1586782 035 $a(CaPaEBR)ebr10557138 035 $a(CaONFJC)MIL385066 035 $a(OCoLC)867927032 035 $a(EXLCZ)992550000000102022 100 $a20101222d2010 uy 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 00$aEconomics of sovereign wealth funds$b[electronic resource] $eissues for policymakers /$feditors, Udaibir S. Das, Adnan Mazarei, and Han van der Hoorn 210 $aWashington, D.C. $cInternational Monetary Fund$dc2010 215 $a1 online resource (706 p.) 300 $aDescription based upon print version of record. 311 $a1-58906-927-7 320 $aIncludes bibliographical references and index. 327 $aCover 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 327 $aFigure 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 327 $aCross-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 327 $aPolicy 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 327 $a5 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 327 $aSoft Law Through the Santiago Principles 330 $aThe 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 SWF's, (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, 606 $aSovereign wealth funds 606 $aInvestment of public funds 608 $aElectronic books. 615 0$aSovereign wealth funds. 615 0$aInvestment of public funds. 676 $a332.67/252 701 $aDas$b Udaibir S$0860107 701 $aHoorn$b Han van der$0860108 701 $aMazarei$b Adnan$f1958-$0860109 712 02$aInternational Monetary Fund. 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910451799803321 996 $aEconomics of sovereign wealth funds$91919118 997 $aUNINA