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Fonds souverains : aspects juridiques

Editor

Listed:
  • Raynouard, Arnaud

Author

Listed:
  • Azar, Samar

Abstract

Sovereign wealth funds, investment vehicles created, funded and controlled by nation states, do not adhere to any clear legal status. Their public ownership and ultimate objectives, together with the private nature of their activities, most of which are confidential and international, have created much debate and controversy within the international community. Considered by many to be white knights of a financial market in crisis, sovereign wealth funds are also seen as a threat to the economic sovereignty of their host countries, which seem to adopt an ambiguous position towards them, varying between liberalism and a return to a latent protectionism. These more or less fantasized fears are exacerbated by the new reality they project: a decline in western influence and the rise of a new state capitalism in the global scene. It is therefore imperative to understand whether sovereign wealth funds are ordinary economic players that should benefit from the protection provided to international investors, or whether they represent the objectives of the nation states from which they emanate. This question is at the heart of the debates ranging around sovereign wealth funds in addition to controversies surrounding other legal aspects regarding the legal regime that would apply to them.

Suggested Citation

  • Azar, Samar, 2013. "Fonds souverains : aspects juridiques," Economics Thesis from University Paris Dauphine, Paris Dauphine University, number 123456789/13660 edited by Raynouard, Arnaud.
  • Handle: RePEc:dau:thesis:123456789/13660
    Note: dissertation
    as

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    More about this item

    Keywords

    Investissements étrangers; Souveraineté; Fonds publics; Sécurité nationale; Stabilité des marchés financiers; Immunités; Traités bilatéraux de protection et de promotion de l'investissement; Foreign investments; Sovereignty; Public funds; National security; Financial markets' stability; Immunities; Bilateral investment treaties;

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
    • K33 - Law and Economics - - Other Substantive Areas of Law - - - International Law
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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