IDEAS home Printed from https://ideas.repec.org/a/tsy/journl/journl_tsy_er_2007_4_3.html
   My bibliography  Save this article

A few sovereigns more: the rise of sovereign wealth funds

Author

Listed:
  • Will Devlin

    (Treasury, Government of Australia)

  • Bill Brummitt

    (Treasury, Government of Australia)

Abstract

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'.

Suggested Citation

  • Will Devlin & Bill Brummitt, 2007. "A few sovereigns more: the rise of sovereign wealth funds," Economic Roundup, The Treasury, Australian Government, issue 4, pages 119-136, December.
  • Handle: RePEc:tsy:journl:journl_tsy_er_2007_4_3
    as

    Download full text from publisher

    File URL: http://archive.treasury.gov.au/documents/1329/PDF/07_A_few_sovereigns_more_the_rise_of_sovereign_wealth_funds.pdf
    Download Restriction: no

    References listed on IDEAS

    as
    1. Edwin M. Truman, 2007. "Sovereign Wealth Funds: The Need for Greater Transparency and Accountability," Policy Briefs PB07-6, Peterson Institute for International Economics.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Alhashel, Bader, 2015. "Sovereign Wealth Funds: A literature review," Journal of Economics and Business, Elsevier, vol. 78(C), pages 1-13.
    2. Kerry Liu, 2017. "Singapores Temasek Holdings Control Mechanisms and the Performance of the Firms Controlled by Temasek," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 7(2), pages 188-205, February.

    More about this item

    Keywords

    foreign direct investment; foreign ownership; sovereign wealth funds; transparency;

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:tsy:journl:journl_tsy_er_2007_4_3. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (The Treasury (Commonwealth of Australia)) or (Lisa Gilmore). General contact details of provider: http://edirc.repec.org/data/trgovau.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.