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Foreign Exchange Reserves and Sovereign Wealth Funds: Will They Change the Global Financial Landscape?

In: Central Bank Reserves and Sovereign Wealth Management

Author

Listed:
  • Roland Beck
  • Michael Fidora

Abstract

Over the past decade, governments in emerging economies have accumulated large holdings of foreign financial assets, mostly in the form of foreign exchange reserves held and managed by central banks. More recently, sovereign wealth funds, which are special government agencies that manage sovereign wealth separate from traditional foreign exchange reserves, have grown rapidly and received considerable attention in the public debate. The policy issues arising from the emergence of sovereign wealth funds as large global financial players range from concerns over a lack of transparency and a reversal in privatisations, to risks to global financial stability. A further concern relates to the question of whether such funds might distort asset prices through non-commercially motivated purchases or sales of securities.

Suggested Citation

  • Roland Beck & Michael Fidora, 2010. "Foreign Exchange Reserves and Sovereign Wealth Funds: Will They Change the Global Financial Landscape?," Palgrave Macmillan Books, in: Arjan B. Berkelaar & Joachim Coche & Ken Nyholm (ed.), Central Bank Reserves and Sovereign Wealth Management, chapter 12, pages 309-327, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-25081-9_12
    DOI: 10.1057/9780230250819_12
    as

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