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2009 | 12 | 1/2 | 115-128
Article title

Sovereign Wealth Funds - new players on global financial markets

Authors
Content
Title variants
Languages of publication
EN
Abstracts
EN
The objective of this paper is analysis of Sovereign Wealth Funds, which are becoming increasingly important players in the international monetary and financial system. Those funds are attracting growing attention not only due to last investment activities in brand-name global firms, but also due to lack of transparency and information about themselves. The article consists of two part. In the first part of the paper based on the latest literature the author presents definitions of Sovereign Wealth Funds and main factors responsible for the rise and growth of those funds. The second part of the paper deals with investment characteristics made by the largest of them. The main conclusion of this paper is that empirical analysis do not prove the thesis that investment made by SWF's has a political background. The latest available data suggest that those funds avoid investing in sensitive sectors like defense, aerospace, high technology and transportation.
Keywords
Year
Volume
12
Issue
1/2
Pages
115-128
Physical description
Dates
published
2009-01-01
online
2010-02-11
Contributors
author
References
  • Beck R., Fidora M., (2008),The impact of Sovereign Wealth Funds on Global Financial Markets, ECB, Occasional Paper Series No.91
  • Eizenman J., Glick R. (2007),Sovereign Wealth Funds: Stumbling Blocks or Stepping Stones to Financial Globalization?, FRBSF Economic Letter, Number 2007-38
  • Gieve J., (2008),Sovereign Wealth Funds and Global Imbalances, Bank of England
  • Gilson R.J., Milhaupt C.J. (2008),Sovereign Wealth Funds and Corporate Governance: A Minimalist Response to the New Mercantilism, ‘Stanford Law Review’, Vol.60
  • Heyward P. (2008),Sovereign Wealth Fund Investment in US Financial Institutions: Too Much or Not Enough?, ‘Banking & Financial Services Policy Report’, Volume 27, Number 5
  • International Monetary Fund, (2008),Sovereign Wealth Funds - A Work Agenda
  • Lyons G. (2007),State capitalism- The rise of Sovereign Wealth Funds, ‘Journal of Management Research’, Volume 7, Number 3
  • Miracky W., Dyer D., Fisher D., Goldner T., Legarde L., Piedrahita V., (2008),Assessing the Risk, The behaviors of sovereign wealth funds in the global economy, Monitor Company Group
  • Morgan Stanley (2007),How Big Could Sovereign Wealth Funds be by 2015?, Morgan Stanley Research Global
  • OECD, (2008),Sovereign Developments Funds, OECD Development Centre Policy Insights, No. 58
  • Truman E.M., (2008),The Rise of Sovereign Wealth Funds: Impact on US Foreign Policy and Economic Interests, Peterson Institute for International Economics, Washington, DC
Document Type
Publication order reference
Identifiers
YADDA identifier
bwmeta1.element.hdl_11089_8205
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