Evolving Roles Of Sovereign Wealth Managers After The Financial Crisis

Author : Bernard Lee
Publisher : World Scientific
Page : 122 pages
File Size : 46,7 Mb
Release : 2014
Category : Business & Economics
ISBN : 9789814452489

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Evolving Roles of Sovereign Wealth Managers After the Financial Crisis by Bernard Lee Pdf

Consider these phenomena: Savers at surplus countries are often penalized by astronomical consumer prices, while spenders at debtor countries enjoy bargain basement prices; Silicon Valley continues to be the global leader in R&D and innovation despite chaos in public finance; and; Surplus countries worry about holding potentially worthless IOUs issued by elected debtor governments. In this book, Professor Lee has tried to better understand sovereign wealth management in the context of saver and debtor countries, by presenting a unified model that can explain these observed phenomena. His attempt is a clear departure from traditional theories, in which these observations would be considered aberrations from standard assumptions. Although no model is perfect, this new framework can be useful to explain why, for example, it will be bad economic news for all if saver countries use their public surpluses to hoard food and fuel. This accessible book is built from a scholarly paper presented by Professor Lee at the venerable Annual Meeting of the American Economic Association.

Author : Bernard Lee (Ph.D.)
Publisher : Unknown
Page : 101 pages
File Size : 55,8 Mb
Release : 2014
Category : Electronic book
ISBN : OCLC:1066618595

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Evolving Roles of Sovereign Wealth Managers After the Financial Crisis by Bernard Lee (Ph.D.) Pdf

Author : Massimiliano Castelli,Fabio Scacciavillani
Publisher : John Wiley & Sons
Page : 245 pages
File Size : 47,7 Mb
Release : 2012-05-14
Category : Business & Economics
ISBN : 9781119971924

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The New Economics of Sovereign Wealth Funds by Massimiliano Castelli,Fabio Scacciavillani Pdf

A 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.

Author : Mr.Udaibir S. Das,Mr.Adnan Mazarei,Han van der Hoorn
Publisher : International Monetary Fund
Page : 330 pages
File Size : 45,9 Mb
Release : 2010-12-09
Category : Business & Economics
ISBN : 9781589069275

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Economics of Sovereign Wealth Funds by Mr.Udaibir S. Das,Mr.Adnan Mazarei,Han van der Hoorn Pdf

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.

Author : Renée A Fry,Warwick J McKibbin,Justin O'Brien
Publisher : World Scientific
Page : 216 pages
File Size : 49,6 Mb
Release : 2011-06-06
Category : Business & Economics
ISBN : 9781908978318

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Sovereign Wealth by Renée A Fry,Warwick J McKibbin,Justin O'Brien Pdf

As the first major collection of papers on sovereign wealth funds and state-owned enterprises, this book provides an essential guide to the geo-political impact of these pools of capital on global markets. The rise of sovereign wealth funds and state-owned enterprises represents a fundamental shift in market dynamics. The potential fusion of political and commercial imperatives raises unresolved geo-political questions that have been sharpened by the vaporization of credit markets as a consequence of the global financial crisis. State-controlled pools of capital have now eclipsed hedge funds and private equity in terms of funds under management, and the question of their regulation is therefore now of utmost importance. This book highlights the interplay between legal, corporate and policy imperatives associated with the regulation of state capital. Including contributions from leading practitioners, policymakers and academics, it provides an essential guide to professionals and academics in the fields of finance and business. Contents: Introduction:Sovereign Wealth Funds in an Evolving Global Financial System (Renée Fry, Warwick McKibbin & Justin O'Brien)Structure and Impacts on the Global Economy:What is a Sovereign Wealth Fund? (Stephen Grenville)Sovereign Wealth Funds and Global Capital Flows: A Macroeconomic Perspective (Julie Kozack, Doug Laxton & Krishna Srinivasan)A Portfolio Analysis of Sovereign Wealth Funds (Christopher Balding)The Implications of Sovereign Wealth Fund Investment on Capital Markets: A Bottom-Up View (David G Fernandez)Regulation and Public Policy Issues:The Political Economy of Sovereign Wealth Funds (Avinish Persaud)Open Capital Markets and Sovereign Wealth Funds, Pension Funds, and State-Owned Enterprises (Adrian Blundell-Wignall & Gert Wehinger)Negotiating a Voluntary Code (David Murray)Legal Implications:Mapping the Trajectory of the Regulatory Debate: Securing the National Interest or Justifying Protectionism? (Justin O'Brien)Australian Regulation of Investments by Sovereign Wealth Funds and State-Owned Enterprises (Greg Golding & Rachael Bassil)Conclusion:Sovereign Wealth Funds: What Have We Learned? (David Vines) Readership: Postgraduate students, researchers and professionals in the areas of international finance/trade and policy studies. Keywords:Sovereign Wealth Funds;State-Owned Enterprise;Capital Markets;Santiago Principles;Regulation of State CapitalKey Features:The first major collection on sovereign wealth funds and state-owned enterprise investmentsFeatures the latest research from both practitioners and academicsProvides an essential guide to the geopolitical impact of sovereign wealth funds and state-owned enterprise investments

Author : Edwin M. Truman
Publisher : Peterson Inst for International Economics
Page : 186 pages
File Size : 43,9 Mb
Release : 2010
Category : Business & Economics
ISBN : 0881324981

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Sovereign Wealth Funds by Edwin M. Truman Pdf

Sovereign Wealth Funds: Threat or Salvation? Neither. How long have these large pools of government-owned or-controlled funds existed? More than five decades. How are they financed? Predominantly, but not exclusively, from excess accumulations of foreign exchange reserves, often derived from the export of natural resources. What issues do SWFs raise? Multiple concerns about globalization and the role of governments in today's world. What is needed to make the world safer for these funds? A quantum leap in their accountability and transparency according to the SWF scoreboard. Has progress been made over the past several years? Yes and the Santiago Principles are a good start, but countries that host SWF investments have been slow to reciprocate with more openness to foreign investment. How do SWFs fit into the international financial system of the 21st century? Awkwardly and, potentially, contentiously. This study by one of the pioneers of independent, policy-oriented research on sovereign wealth funds elaborates on these questions and answers. "Dr. Truman is a distinguished scholar who has been analyzing sovereign wealth funds for the last several years. His work has been influential in the development of the santiago Principles, a voluntary code of behavior, transparency and accountability adopted by most countries with large sovereign wealth funds. This is an invaluable book for anyone interested in a serious and objective analysis of these funds---their origins, their objectives, their differences across countries, their effects on the global economy, and their consequences for international economic policy."---Laura D'Anderea Tyson, S.K. and Angela Chan Professor of Global Management, Haas School of Business, University of California Berkeley, and former chair of the Council of Economic Advisers and the National Economic Council

Author : Joshua Yindenaba Abor,Charles Komla Delali Adjasi,Robert Lensink
Publisher : Routledge
Page : 461 pages
File Size : 54,7 Mb
Release : 2020-12-29
Category : Business & Economics
ISBN : 9780429835254

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Contemporary Issues in Development Finance by Joshua Yindenaba Abor,Charles Komla Delali Adjasi,Robert Lensink Pdf

Contemporary Issues in Development Finance provides comprehensive and up-to-date coverage of theoretical and policy issues in development finance from both the domestic and the external finance perspectives and emphasizes addressing the gaps in financial markets. The chapters cover topical issues such as microfinance, private sector financing, aid, FDI, remittances, sovereign wealth, trade finance, and the sectoral financing of agricultural and infrastructural projects. Readers will acquire both breadth and depth of knowledge in critical and contemporary issues in development finance from a philosophical and yet pragmatic development impact approach. The text ensures this by carefully integrating the relevant theoretical underpinnings, empirical assessments, and practical policy issues into its analysis. The work is designed to be fully accessible to practitioners with only a limited theoretical economic background, allowing them to deeply engage with the book as useful reference material. Readers may find more advanced information and technical details provided in clear, concise boxes throughout the text. Finally, each chapter is fully supported by a set of review questions and by cases and examples from developing countries, particularly those in Africa. This book is a valuable resource for both development finance researchers and students taking courses in development finance, development economics, international finance, financial development policy, and economic policy management. Practitioners will find the development impact, policy, and conceptual analysis dimensions insightful analysing and designing intervention strategies.

Author : Mr.Stijn Claessens,Mr.Ayhan Kose
Publisher : International Monetary Fund
Page : 66 pages
File Size : 52,8 Mb
Release : 2013-01-30
Category : Business & Economics
ISBN : 9781475561005

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Financial Crises Explanations, Types, and Implications by Mr.Stijn Claessens,Mr.Ayhan Kose Pdf

This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.

Author : Mr.Stijn Claessens,Mr.Ayhan Kose,Mr.Luc Laeven,Mr.Fabian Valencia
Publisher : International Monetary Fund
Page : 670 pages
File Size : 47,6 Mb
Release : 2014-02-19
Category : Business & Economics
ISBN : 9781475543407

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Financial Crises by Mr.Stijn Claessens,Mr.Ayhan Kose,Mr.Luc Laeven,Mr.Fabian Valencia Pdf

The lingering effects of the economic crisis are still visible—this shows a clear need to improve our understanding of financial crises. This book surveys a wide range of crises, including banking, balance of payments, and sovereign debt crises. It begins with an overview of the various types of crises and introduces a comprehensive database of crises. Broad lessons on crisis prevention and management, as well as the short-term economic effects of crises, recessions, and recoveries, are discussed.

Author : Mr.Luc Laeven,Ms.Deniz Igan,Mr.Stijn Claessens,Mr.Giovanni Dell'Ariccia
Publisher : International Monetary Fund
Page : 42 pages
File Size : 53,5 Mb
Release : 2010-02-01
Category : Business & Economics
ISBN : 9781451963021

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Lessons and Policy Implications from the Global Financial Crisis by Mr.Luc Laeven,Ms.Deniz Igan,Mr.Stijn Claessens,Mr.Giovanni Dell'Ariccia Pdf

The ongoing global financial crisis is rooted in a combination of factors common to previous financial crises and some new factors. The crisis has brought to light a number of deficiencies in financial regulation and architecture, particularly in the treatment of systemically important financial institutions, the assessments of systemic risks and vulnerabilities, and the resolution of financial institutions. The global nature of the financial crisis has made clear that financially integrated markets, while offering many benefits, can also pose significant risks, with large real economic consequences. Deep reforms are therefore needed to the international financial architecture to safeguard the stability of an increasingly financially integrated world.

Author : M. Ayhan Kose,Peter Nagle,Franziska Ohnsorge,Naotaka Sugawara
Publisher : World Bank Publications
Page : 403 pages
File Size : 47,8 Mb
Release : 2021-03-03
Category : Business & Economics
ISBN : 9781464815454

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Global Waves of Debt by M. Ayhan Kose,Peter Nagle,Franziska Ohnsorge,Naotaka Sugawara Pdf

The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.

Author : Bessma Momani
Publisher : Routledge
Page : 271 pages
File Size : 53,5 Mb
Release : 2016-04-01
Category : Political Science
ISBN : 9781317055419

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Shifting Geo-Economic Power of the Gulf by Bessma Momani Pdf

Bringing together for the first time distinguished Gulf experts to analyse the renewed geo-economic prominence of the Gulf states, this volume investigates some of the 'new power brokers' in the world economy: the oil-exporting states of the Gulf. The Gulf Cooperation Council's (GCC) members: Bahrain, Kuwait, Oman, Qatar, the United Arab Emirates and Saudi Arabia, collectively have the largest proven oil reserves in the world and are among the world's largest oil-exporting states. Gulf Arab states are actively pursuing a variety of foreign investment strategies. Some of these investments are being managed by sovereign wealth funds, government investment corporations, and government-controlled companies. This renewed geo-economic status has received a lot of media attention but there has been a dearth of academic study on what this shift in global economic power means for the international economic system. This volume aims to fill this gap with a rigorous scholarly analysis based on primary sources and raw economic data. It brings together the expertise of academics who have devoted their career to careful study of the region and of renowned scholars of international political economy.

Author : Tomer Broude,Marc L. Busch,Amelia Porges
Publisher : Cambridge University Press
Page : 389 pages
File Size : 50,9 Mb
Release : 2011-03-07
Category : Law
ISBN : 9781139499125

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The Politics of International Economic Law by Tomer Broude,Marc L. Busch,Amelia Porges Pdf

How do politics and international economic law interact with each other? Financial crises and shifts in global economic patterns have refocused our attention on how the fingerprints of the 'visible hand' can be seen all over the institutions that underpin the rules of globalization. From trade and investment to finance, governments are under pressure to enforce, resist and rewrite international economic law. Lawyers have seldom given enough attention to the influence of politics on law, whereas political scientists have had an on-again, off-again fascination with how the law influences relations among states. This book leads the way toward filling this interdisciplinary gap, through a series of important studies written by leaders in the field on specific problems in international economic relations. The book demonstrates a variety of ways in which the international political-economic nexus may be researched and understood.

Author : Asst Prof Mine Aysen Doyran
Publisher : Ashgate Publishing, Ltd.
Page : 272 pages
File Size : 52,7 Mb
Release : 2013-03-28
Category : Business & Economics
ISBN : 9781409489498

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Financial Crisis Management and the Pursuit of Power by Asst Prof Mine Aysen Doyran Pdf

How does America manage crisis on behalf of international finance in the absence of a global state? Doyran explores the relationship between state power and global finance and in particular examines the various attempts by the US state at financial crisis management. The case studies highlight the dramatic consequences of the rise of financial capitalism in the US economy, and also explore regulatory sources of market failures, systemic risk and moral hazard. This book focuses on this primary issue facing scholars of American power in various social science disciplines, including political science, finance and international relations, professional financial analysts and Government officials. This book is for the critical reader who is interested in financial policy and wants to learn more about the causes and consequences of the rise of financial markets.

Author : Brad Setser
Publisher : Council on Foreign Relations
Page : 68 pages
File Size : 47,7 Mb
Release : 2008
Category : Business & Economics
ISBN : 9780876094150

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Sovereign Wealth and Sovereign Power by Brad Setser Pdf

The rise in China's trade surplus, the increase in oil prices, and a slowdown in demand for U.S. assets from private investors abroad has increased the United States' reliance on foreign governments for financing. This report examines whether America's ability to secure large quantities of external financing from foreign governments is a reflection of its political power, a constraint on its ability to exercise power, or a combination of the two.