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Sovereign Wealth Funds –Activity, Development and Forecasting

Author

Listed:
  • Doina-Ana Draniceanu

    () (Romanian Court of Accounts)

  • Elena-Doina Dascalu

    () (Romanian Court of Accounts)

  • Lucian-Florin Onisor

    () (Bucharest University of Economic Studies)

Abstract

The way the SWF activity has intensified in the last 7 years asks for a more detailed analysis of these financing-development methods. The field of financing by sovereign wealth funds is currently less explored by the scientific literature and it can underlie the current and near future development of the post-modern society. Starting from a documentary research, based on centralization and communication of the information published by other researchers in scientific articles and in official papers of the specialized institutes, this study ends with a forecast regarding the evolution of how SWFs will be formed in the near future. The value added is represented by the identification, centralization and summarization of the main relevant results recorded by experts and presents a new approach regarding the opening of new sovereign wealth funds. The study also explores the possible establishment of a Romanian SWF, highlighting the natural resources of strategic importance, which Romania may use for this purpose.

Suggested Citation

  • Doina-Ana Draniceanu & Elena-Doina Dascalu & Lucian-Florin Onisor, 2014. "Sovereign Wealth Funds –Activity, Development and Forecasting," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(4), pages 168-183, December.
  • Handle: RePEc:rjr:romjef:v::y:2014:i:4:p:168-183
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    References listed on IDEAS

    as
    1. Dewenter, Kathryn L. & Han, Xi & Malatesta, Paul H., 2010. "Firm values and sovereign wealth fund investments," Journal of Financial Economics, Elsevier, vol. 98(2), pages 256-278, November.
    2. Knill, April & Lee, Bong-Soo & Mauck, Nathan, 2012. "Bilateral political relations and sovereign wealth fund investment," Journal of Corporate Finance, Elsevier, vol. 18(1), pages 108-123.
    3. Maltritz, Dominik, 2012. "Determinants of sovereign yield spreads in the Eurozone: A Bayesian approach," Journal of International Money and Finance, Elsevier, vol. 31(3), pages 657-672.
    4. Kotter, Jason & Lel, Ugur, 2011. "Friends or foes? Target selection decisions of sovereign wealth funds and their consequences," Journal of Financial Economics, Elsevier, vol. 101(2), pages 360-381, August.
    5. Benedictow, Andreas & Fjærtoft, Daniel & Løfsnæs, Ole, 2013. "Oil dependency of the Russian economy: An econometric analysis," Economic Modelling, Elsevier, vol. 32(C), pages 400-428.
    6. Kalyuzhnova, Yelena & Nygaard, Christian, 2009. "Resource nationalism and credit growth in FSU countries," Energy Policy, Elsevier, vol. 37(11), pages 4700-4710, November.
    7. Knill, April M. & Lee, Bong Soo & Mauck, Nathan, 2012. "Sovereign wealth fund investment and the return-to-risk performance of target firms," Journal of Financial Intermediation, Elsevier, vol. 21(2), pages 315-340.
    8. repec:eee:ecomod:v:223:y:2011:i:1:p:72-80 is not listed on IDEAS
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    More about this item

    Keywords

    sovereign wealth funds; development; forecasting; communication; Romania;

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs

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