Sovereign Wealth Funds: Strategies of Geo-Economic Power Projections

Gyula Csurgai

Chapter 9 in Globalization and the Reform of the International Banking and Monetary System, 2009, pp 209-227 from Palgrave Macmillan

Abstract: Abstract Sovereign Wealth Funds (SWFs) are not completely new phenomena as these funds have existed for decades. For instance, the Kuwait Investment Authority was created in 1953, eight years before the independence of Kuwait, to invest its huge oil revenues. Abu Dhabi and Singapore have used SWFs for over 25 years. In recent years SWFs have been growing rapidly, by US$1 trillion a year, and in 2009 these funds all together control an estimated US$3.9 trillion, increasing to US$10–15 trillion by 2015.1 As a source of huge and ready cash, SWFs are becoming increasingly well received in several countries hit by the financial crisis.

Keywords: European Union; Foreign Direct Investment; International Working Group; Competitive Intelligence; Sovereign Wealth Fund (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-0-230-25106-9_9

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DOI: 10.1057/9780230251069_9

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