Sovereign Wealth Funds: New Economic Realities and the Political Responses

Steffen Kern

Revue d'Économie Financière, 2009, vol. 9, issue 1, 255-269

Abstract: [eng] From a global perspective, sovereign wealth funds (SWFs) and their investments are one facet of a new phase of globalization, which is about ownership of assets globally and a new quality in terms of the participation of emerging markets in the global economy. This is a positive and highly welcome development. The growing international investments by emerging markets are likely ta help them achieve a more established role in world finance which is more commensurate with their importance in the global economy. This calls for early and coordinated policy approaches. The IMF' s coordinating strategy on SWF transparency and governance is a very positive example of how a swift and targeted policy response brought emerging markets ta the negotiating table, actually making them the drivers of the process. . JEL Classification : F30, G29

Date: 2009
Note: DOI:10.3406/ecofi.2009.5512
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