LEADER 05749nam 2200841Ia 450 001 9910818568903321 005 20230912122742.0 010 $a9786613916457 010 $a9781119973454 010 $a1119973457 010 $a9781119973478 010 $a1119973473 010 $a9781283604000 010 $a1283604000 010 $a9781119973447 010 $a1119973449 035 $a(CKB)2670000000246187 035 $a(EBL)1022417 035 $a(SSID)ssj0000741543 035 $a(PQKBManifestationID)11476475 035 $a(PQKBTitleCode)TC0000741543 035 $a(PQKBWorkID)10720782 035 $a(PQKB)10639265 035 $a(DLC) 2012006622 035 $a(Au-PeEL)EBL1022417 035 $a(CaPaEBR)ebr10602120 035 $a(Au-PeEL)EBL4956667 035 $a(CaONFJC)MIL391645 035 $a(OCoLC)777002314 035 $a(CaSebORM)9781119971924 035 $a(MiAaPQ)EBC1022417 035 $a(MiAaPQ)EBC4956667 035 $a(OCoLC)829395455 035 $a(OCoLC)ocn829395455 035 $a(Perlego)1012908 035 $a(EXLCZ)992670000000246187 100 $a20120213d2012 uy 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 14$aThe new economics of sovereign wealth funds /$fMassimiliano Castelli, Fabio Scacciavillani 205 $a1st edition 210 $aHoboken, NJ $cWiley$dc2012 215 $a1 online resource (229 p.) 225 1 $aThe Wiley Finance Series 300 $aDescription based upon print version of record. 311 08$a9781119971924 311 08$a1119971926 320 $aIncludes bibliographical references (p. 189-198) and index. 327 $aTitle page; Copyright page; Contents; Foreword; List of Tables and Figures; List of Abbreviations; Acknowledgements; Introduction; A few stylized facts; SWFs under the spotlight; Defining SWFs; Misplaced fears; The plan of the book; 1: The Macroeconomic Dynamics Behind SWFs; 1.1 Persistent current account surpluses translate into accumulation of foreign assets; 1.2 Absorption constraints: the rationale for establishing SWFs and FWFs; 1.3 The management of natural resources windfall; 1.4 Commodities demand and the super-cycle theory 327 $a1.5 SWFs as alternative to an income tax system: what if Norway becomes like Saudi Arabia?2: Size and Growth of SWFs Assets; 2.1 Size and clusters of SWFs; 2.2 Drivers of SWFs asset growth; 2.3 The optimal level of foreign exchange reserves; 2.4 Future growth in FX reserves: commodity- versus non-commodity-exporting countries; 2.5 Size of SWFs by 2016; Appendix: How big could SWFs be by 2016?; 3: SWFs as Investors in Global Markets; 3.1 Clustering SWFs by objectives and investment profiles; 3.2 SWFs as strategic investors in domestic and global markets 327 $a3.3 Geographical and sector distribution of SWF strategic investments: the 2007-2008 surge of investments in Western financials 3.4 Investment performance of SWFs and the impact of the financial crisis; 3.5 Explicit and implicit liabilities of SWFs; 3.6 Long-term investments: SWFs as the ultimate risk bearers; 4: Risk Management for SWFs; 4.1 The crisis in retrospect; 4.2 The complex qualitative nature of risk: uncertainty, chaos, black swans and fat tails; 4.3 Banking regulation, herd behaviour and contagion; 4.4 The evolution of the regulatory framework 327 $a4.5 Sketches of risk management for SWFs 4.6 An unconventional dimension of risk management: shareholders vs stakeholders; 5: SWFs in the Geopolitics of the Twenty-first Century; 5.1 The shift to the East of the global economy: the New Silk Route; 5.2 The law of unintended consequences? China's influence through financial muscle; 5.3 SWFs investing in the less developed economies: Africa as the last investment frontier; 5.4 The new financial geography: the emerging multipolar financial architecture; 5.5 The dominance of the US in global financial markets: SWFs as US diversifiers 327 $a5.6 SWFs and the new regulatory environment for financial institutions: the upcoming 'war for capital'6: The Politics of SWFs Engagement; 6.1 National responses to the growing role of SWFs; 6.2 International response to the growing role of SWFs; 6.3 SWFs' response to international pressure; 6.4 Santiago Principles: rationale, implementation and reality; 6.5 A digression on public versus private role in the economy; 7: Wrapping Up; 7.1 Towards a multipolar world; 7.2 Governments' activism in economic and financial affairs; 7.3 Barbarian at the gates or welcome partners? 327 $a7.4 The end of the savings gluts and the coming era of capital scarcity 330 $aA complete guide to sovereign wealth funds written by and for industry practitioners Sovereign wealth funds (SWFs) aren't new, but they are often misunderstood. As they've attracted more attention over the last decade and grown greatly in size, the need for a new and thorough resource on SWFs has never been greater. These funds will only grow more important over the coming years. In this book, expert authors who work in the industry present a comprehensive look at SWFs from the perspective of western investors. 410 0$aWiley finance series. 606 $aSovereign wealth funds 606 $aInvestment of public funds 615 0$aSovereign wealth funds. 615 0$aInvestment of public funds. 676 $a332.67/252 700 $aCastelli$b Massimiliano$01662037 701 $aScacciavillani$b Fabio$0122185 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910818568903321 996 $aThe new economics of sovereign wealth funds$94018354 997 $aUNINA