Fonds souverains: aspects juridiques

Samar Azar

in Economics Thesis from University Paris Dauphine from Paris Dauphine University

Abstract: Sovereign wealth funds, investment vehicles created, funded and controlled by nation states, do not adhere to any clear legal status. Their public ownership and ultimate objectives, together with the private nature of their activities, most of which are confidential and international, have created much debate and controversy within the international community. Considered by many to be white knights of a financial market in crisis, sovereign wealth funds are also seen as a threat to the economic sovereignty of their host countries, which seem to adopt an ambiguous position towards them, varying between liberalism and a return to a latent protectionism. These more or less fantasized fears are exacerbated by the new reality they project: a decline in western influence and the rise of a new state capitalism in the global scene. It is therefore imperative to understand whether sovereign wealth funds are ordinary economic players that should benefit from the protection provided to international investors, or whether they represent the objectives of the nation states from which they emanate. This question is at the heart of the debates ranging around sovereign wealth funds in addition to controversies surrounding other legal aspects regarding the legal regime that would apply to them.

Keywords: Investissements étrangers; Souveraineté; Fonds publics; Sécurité nationale; Stabilité des marchés financiers; Immunités; Traités bilatéraux de protection et de promotion de l'investissement; Foreign investments; Sovereignty; Public funds; National security; Financial markets' stability; Immunities; Bilateral investment treaties (search for similar items in EconPapers)
JEL-codes: F21 G15 G31 K33 (search for similar items in EconPapers)
Date: 2013 Written 2013
Note: dissertation
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