Sovereign-Wealth Funds: A Paradigm Shift in Capital Flows in the Global Economy

Dilip K. Das

Chapter 6 in Financial Globalization, 2010, pp 250-279 from Palgrave Macmillan

Abstract: Abstract Sovereign-wealth funds (SWFs) have emerged as active players with enormous financial influence and weight in the global financial markets. The essential theme of this chapter is to provide readers with the basic conceptual strands of SWFs: their genesis, their coming into prime and the recent spurt in their operations. The structure of this chapter is as follows: Section 2 of this chapter focuses on definition, and tracks the origin and growth of SWFs. Whether they are an aberration of the international financial world is also analyzed in Section 2. The size and quantitative details of SWFs are provided in Section 3. There are different kinds of SWFs, fulfilling different objectives. Section 4 delves into categorization related issues. Also there are diverse management styles, which are discussed in Section 5. Section 6 explores the present and future market size of SWFs and Section 7 examines the ramifications of this group of large institutional investors. It also answers the query concerning whether anxieties about their operations are exaggerated. Section 8 attempts to provide answers regarding some prickly policy questions. Section 9 briefly sums up the chapter.

Keywords: Central Bank; International Monetary Fund; Pension Fund; Hedge Fund; Foreign Asset (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-28994-9_6

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DOI: 10.1057/9780230289949_6

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