LEADER 03535nam 2200613Ia 450 001 9910463995803321 005 20170817212558.0 010 $a1-4623-2953-5 010 $a1-4527-4602-8 010 $a1-282-84390-7 010 $a9786612843907 010 $a1-4518-7326-3 035 $a(CKB)3170000000055328 035 $a(EBL)1608410 035 $a(SSID)ssj0000943061 035 $a(PQKBManifestationID)11566063 035 $a(PQKBTitleCode)TC0000943061 035 $a(PQKBWorkID)10975011 035 $a(PQKB)11024817 035 $a(OCoLC)551144532 035 $a(MiAaPQ)EBC1608410 035 $a(EXLCZ)993170000000055328 100 $a20100902d2009 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aSetting up a sovereign wealth fund$b[electronic resource] $esome policy and operational considerations /$fUdaibir S. Das ... [et al.] 210 $a[Washington, D.C.] $cInternational Monetary Fund$d2009 215 $a1 online resource (23 p.) 225 1 $aIMF working paper ;$vWP/09/179 300 $aDescription based upon print version of record. 311 $a1-4519-1752-X 320 $aIncludes bibliographical references. 327 $aContents; Glossary; I. Introduction; II. What is a Sovereign Wealth Fund?; III. When to Set Up an SWF?; A. When are a Country's Reserves Adequate?; B. What are the Options in Case of Ample Reserves?; C. What if BoP Crises Call for Liquidity Support from the SWF?; IV. What Are An SWF's Objectives?; A. Can SWFs be Distinguished by Their Stated Policy Objectives?; B. How to Formulate Operational Objectives to Achieve Policy Objectives?; V. What are the Funding, Withdrawal, and Spending Rules of an SWF?; A. Rules for Transferring Funds between an SWF and its Owner 327 $aVI. Some Considerations in Determining the Institutional Structure?A. SWFs as a Unit within a Central Bank or the Ministry of Finance, or, as a Separate Legal Entity?; B. How are the Decision-Making Hierarchy and Lines of Reporting Organized?; VII. What Determines the Investment Policy?; A. What are the General Considerations in Designing an SWF's SAA?; B. What are the Considerations for an SWF to Finance Domestic Projects?; C. What are the Considerations when an SWF Hires External Asset Managers?; VIII. Conclusion; References 330 $aThis paper offers a policy and operational ""roadmap"" to policymakers considering setting up an SWF. It should also be of interest to policymakers in countries where SWFs are already in place, to review their existing policies and operations. Finally, it offers an opportunity to identify areas where research in macroeconomics and finance should give further answers as to the adequacy of existing practice related to the setting up and management of SWFs, an area where practical considerations often lead theoretical research. For instance, policymakers should optimally consider both their sover 410 0$aIMF working paper ;$vWP/09/179. 606 $aSovereign wealth funds 606 $aInvestment of public funds 608 $aElectronic books. 615 0$aSovereign wealth funds. 615 0$aInvestment of public funds. 676 $a332.63232 700 $aDas$b Udaibir S$0860107 712 02$aInternational Monetary Fund. 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910463995803321 996 $aSetting up a sovereign wealth fund$92110730 997 $aUNINA