PL EN


2012 | 4 | 2 | 339-352
Article title

Państwowe fundusze majątkowe jako nowy element w architekturze globalnej sieci bezpieczeństwa finansowego

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Selected contents from this journal
Title variants
EN
SOVEREIGN WEALTH FUNDS AS A NEW ELEMENT IN THE ARCHITECTURE OF GLOBAL FINANCIAL SAFETY NET
Languages of publication
PL
Abstracts
EN
The article discusses the issue of sovereign wealth funds in the context of the role of these investors in providing global financial stability. The first part of the paper presents four phases of development of these institutional investors. The second part of the article shows that sovereign wealth funds have characteristics of long-term investors including: limited liquidity needs, lower than market average level of redemption risk, long-term investment horizon and relatively high risk tolerance. In the last part the author provides evidence that this group of investors can currently play stabilizing role within selected economies and in the future possibly on the global level. These state-run funds may contribute to a widening of the long-term investor base for risky assets, be the source of liquidity to markets, exert a stabilizing effect on financial markets, and moreover enable a more efficient sharing and diversification of risk at the global level. In conclusion the author point out to the need for regulatory framework supporting long term investment on national, regional and global level.
Year
Volume
4
Issue
2
Pages
339-352
Physical description
Contributors
author
  • Katedra Zarządzania Przedsiębiorstwem, Wydział Zarządzania, Uniwersytet Łódzki, ul. Matejki 33/36, 90-237 Łódź, durban@uni.lodz.pl
References
Document Type
Publication order reference
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YADDA identifier
bwmeta1.element.desklight-2d641f86-3d3c-4a61-8c66-8bdc52d47f44
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