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Constitutional Political Economy Dimensions of Sovereign Debt Policy, Foreign Aid and the Politicization of Pension Funds and Sovereign Wealth Funds

In: Geopolitical Risk, Sustainability and “Cross-Border Spillovers” in Emerging Markets, Volume I

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  • Michael I. C. Nwogugu

Abstract

This chapter explains the relationships between Constitutions, Sovereign Debt management, Foreign Aid and Systemic Risk (which is somewhat complex, symbiotic and evolving), and the politicization of other “national” capital sources such as public/private Pension funds and Sovereign Wealth Funds (SWFs). This chapter also explains why it is improper to criticize what is termed “Foreign Aid”. Foreign Aid is contrasted with FDI and purchases of both corporate securities and government securities by foreign investors within the context of constitutional limitations of state and federal governments. This chapter illustrates the perceived differences by comparing the United States with other countries.

Suggested Citation

  • Michael I. C. Nwogugu, 2021. "Constitutional Political Economy Dimensions of Sovereign Debt Policy, Foreign Aid and the Politicization of Pension Funds and Sovereign Wealth Funds," Springer Books, in: Geopolitical Risk, Sustainability and “Cross-Border Spillovers” in Emerging Markets, Volume I, chapter 0, pages 313-382, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-71415-4_6
    DOI: 10.1007/978-3-030-71415-4_6
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