Strategic Sovereign Wealth Fund Investment and the New Alliance Capitalism: A Network Mapping Investigation

Daniel Haberly
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Daniel Haberly: Graduate School of Geography, Clark University, 950 Main Street, Worcester, MA 01610, USA

Environment and Planning A, 2011, vol. 43, issue 8, 1833-1852

Abstract: Sovereign wealth funds (SWFs) have grown rapidly in recent years both in value and in number. Despite a great deal of popular debate, very little scholarly attention has centered on the ‘strategic use’ of SWFs by states, that is, as tools to promote national development. Using a ‘network mapping’ approach, I investigate two case studies involving extensive strategic SWF investment: Qatar, Abu Dhabi, and Dubai's use of SWFs to promote the development of their aerospace sectors; and the deployment of the China Investment Corporation as an instrument of Chinese raw materials and energy policy. Strategically oriented SWF investment can be seen as a state-adaptive strategy under contemporary conditions of globalization and financialization. The viability of such a strategy, however, hinges on the manner in which it feeds into the strategies of firms and states at the receiving end of investment.

Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:sae:envira:v:43:y:2011:i:8:p:1833-1852

DOI: 10.1068/a43324

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