Foreign Exchange Reserves and Sovereign Wealth Funds: Will They Change the Global Financial Landscape?

Roland Beck and Michael Fidora

Chapter 12 in Central Bank Reserves and Sovereign Wealth Management, 2010, pp 309-327 from Palgrave Macmillan

Abstract: Abstract Over the past decade, governments in emerging economies have accumulated large holdings of foreign financial assets, mostly in the form of foreign exchange reserves held and managed by central banks. More recently, sovereign wealth funds, which are special government agencies that manage sovereign wealth separate from traditional foreign exchange reserves, have grown rapidly and received considerable attention in the public debate. The policy issues arising from the emergence of sovereign wealth funds as large global financial players range from concerns over a lack of transparency and a reversal in privatisations, to risks to global financial stability. A further concern relates to the question of whether such funds might distort asset prices through non-commercially motivated purchases or sales of securities.

Keywords: Central Bank; Abnormal Return; Euro Area; Foreign Asset; Foreign Exchange Reserve (search for similar items in EconPapers)
Date: 2010
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-25081-9_12

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230250819

DOI: 10.1057/9780230250819_12

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().