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The Political Economy of Sovereign Wealth Funds

In: Comparative Economic Studies in Europe

Author

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  • Jürgen Jerger

    (University of Regensburg
    Leibniz Institute for East and Southeast European Studies Regensburg)

Abstract

Sovereign Wealth Funds (SWF) play a significant role in many countries. In this paper, I develop a model that shows the potential of SWF to stabilise autocratic regimes. A ruling elite might have an incentive to put part of their income into such an investment vehicle. The reason is that a SWF gives credibility to a ruling elite with respect to their future decision on redistribution to the poor. This credibility is crucial for the elite since this helps to prevent the poor from staging a revolution. The implications of the model fit quite well the observation that the use of SWF is much more common in countries with autocratic political regimes.

Suggested Citation

  • Jürgen Jerger, 2021. "The Political Economy of Sovereign Wealth Funds," Studies in Economic Transition, in: Wladimir Andreff (ed.), Comparative Economic Studies in Europe, edition 1, pages 97-107, Palgrave Macmillan.
    • Handle: RePEc:pal:stuchp:978-3-030-48295-4_6
    DOI: 10.1007/978-3-030-48295-4_6
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