A few sovereigns more: the rise of sovereign wealth funds
One of the most striking developments in international financial markets over recent years has been the emergence of dedicated government investment vehicles as an important investor class. These so-called ‘sovereign wealth funds' (SWFs) have grown rapidly both in size and number, fuelled by a sharp and sustained rise in energy and commodity prices and by large current account surpluses among the export-oriented economies of East Asia. This paper finds that while these funds may not pose a direct threat to financial stability, concerns over a lack of transparency and non-commercial investment motives may give rise to an increase in 'financial protectionism'.
Volume (Year): (2007)
Issue (Month): 4 (December)
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- Edwin M. Truman, 2007. "Sovereign Wealth Funds: The Need for Greater Transparency and Accountability," Policy Briefs PB07-6, Peterson Institute for International Economics.
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