Development Institutions and Sovereign Wealth Fund as a Tool for Implementing Transformation Processes in the Economy

Julia Kovalchuk ()
Additional contact information
Julia Kovalchuk: Moscow State Institute of International Relations (MGIMO University)

Chapter Chapter 2 in Post-Industrial Society, 2020, pp 15-29 from Springer

Abstract: Abstract The chapter contains the author’s approach to researching the roles of specialized institutions established by governments of various countries in order to implement economy development projects (institutions and development funds) and solve issues of preserving financial stability in times of crisis (sovereign wealth funds). The rating of global competitiveness of countries drafted by the World Economic Forum was analyzed, which established that, despite different levels of institutional development in different countries, the largest sovereign funds function in countries ranking relatively low in this rating. The creation and research into the functioning of development institutions was conducted with Russia as an example. It has been proved that the need for development institutions arises upon the slowdown of growth caused by traditional economic structures and the increase in international competition, which (depending on the type in the devised classification) drives innovational activity, developing infrastructure, and investment in human resources. Modern approaches to the activity of sovereign wealth funds have been identified, including investment in high-tech companies and start-ups, and the allocation of income from special taxes.

Keywords: Development; Development funds; Sovereign wealth funds; Finance; Financial institutions; Economic sustainability; О21 (search for similar items in EconPapers)
Date: 2020
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:spr:sprchp:978-3-030-59739-9_2

Ordering information: This item can be ordered from
http://www.springer.com/9783030597399

DOI: 10.1007/978-3-030-59739-9_2

Access Statistics for this chapter

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