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Les fonds souverains : des acteurs clés dans la nouvelle géographie des richesses

Listed author(s):
  • Javier Santiso
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    [eng] Sovereign Development Funds : Key Financial Actors of the Shifting Wealth of Nations The emergence of sovereign wealth funds (SWFs) has signaled a major reshaping of the world's economy : financial actors from developing countries playing on an equal footing with the financial giants of OECD countries. Beyond this spectacular emergence also lies promising news for the wealth of (developing) nations. SWFs may grow to become major actors of development finance : sovereign development funds. The international investment of SWFs is already increasing. If domestically, some SWFs tend to behave as development finance institutions, working to boost economic diversification or build strong national champions, in their international investment strategies their behavior resembles tradition al investment funds, seeking performance and solid returns. JEL Classification : F30, 016 [fre] L'émergence des fonds souverains a marqué la reconfiguration en profondeur de l'économie mondiale : des opérateurs financiers de pays en développement jouent désormais à pied d'égalité avec les géants des pays de l'OCDE. Cet essor spectaculaire s'annonce également prometteur pour d'autres nations en développement. Les fonds souverains pourraient bien devenir des acteurs clés du financement du développement, sous la forme de fonds souverains de développement (FSD). Les investissements des fonds souverains à l'étranger ont déjà considérablement augmenté. Si, dans leur pays d'origine, plusieurs fonds souverains ont tendance à se comporter en institutions de financement du développement en s'employant à accélérer la diversification de l'économie ou à construire de robustes entreprises leaders, ils se conforment, pour leurs investissements à l'extérieur, aux stratégies classiques des fonds d'investissement orientées par la quête de la performance et de solides rendements. Classification JEI : F30, 016

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    Article provided by Programme National Persée in its journal Revue d'économie financière.

    Volume (Year): 9 (2009)
    Issue (Month): 1 ()
    Pages: 315-342

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    Handle: RePEc:prs:recofi:ecofi_0987-3368_2009_hos_9_1_5441
    Note: DOI:10.3406/ecofi.2009.5441
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    1. Helmut Reisen, 2008. "Fonds d'État et richesse des nations : Tout s'explique ..," Centre de développement de l'OCDE - Repères 59, OECD Publishing.
    2. Javier Santiso, 2008. "Sovereign Development Funds," OECD Development Centre Policy Insights 58, OECD Publishing.
    3. Roland Beck & Michael Fidora, 2008. "The impact of sovereign wealth funds on global financial markets," Intereconomics: Review of European Economic Policy, Springer;German National Library of Economics;Centre for European Policy Studies (CEPS), vol. 43(6), pages 349-358, November.
    4. Mitchell, Olivia S. & Piggott, John & Kumru, Cagri, 2008. "Managing public investment funds: best practices and new questions," Journal of Pension Economics and Finance, Cambridge University Press, vol. 7(03), pages 321-356, November.
    5. Fidora, Michael & Beck, Roland, 2008. "The impact of sovereign wealth funds on global financial markets," Occasional Paper Series 91, European Central Bank.
    6. Gøril Bjerkhol Havro & Javier Santiso, 2008. "Tirer parti de la manne des matières premières : Les leçons du Chili et de la Norvège," Cahiers de politique économique du Centre de Développement de l'OCDE 37, OECD Publishing.
    7. Rolando Avendaño & Helmut Reisen & Javier Santiso, 2008. "The Macro Management of Commodity Booms: Africa and Latin America's Response to Asian Demand," OECD Development Centre Working Papers 270, OECD Publishing.
    8. Olivia S. Mitchell & John Piggott & Cagri Kumru, 2008. "Managing Public Investment Funds: Best Practices and New Challenges," NBER Working Papers 14078, National Bureau of Economic Research, Inc.
    9. Santiso, Javier, 2008. "La emergencia de las multilatinas," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), August.
    10. Santiso, Javier, 2008. "The Emergence of Latin Multinationals," MPRA Paper 12904, University Library of Munich, Germany.
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