Download or read book Commodity based Sovereign Wealth Funds written by Abdullah Al-Hassan and published by International Monetary Fund. This book was released on 2018-02-09 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Commodity-based sovereign wealth funds (SWFs) have been at a crossroads following the recent fall in commodity prices. This paper provides a framework for commodity-based SWF management, focusing on stabilization and savings funds, by (i) examining macrofiscal linkages for SWFs; (ii) presenting an integrated sovereign asset and liability management (SALM) approach to SWF management; and (iii) applying this framework to a scenario where assets are being accumulated and to a scenario where the SWF is drawn on to cover a financing gap due to lower commodity prices.
Download or read book Macrofinancial Linkages of the Strategic Asset Allocation of Commodity Based Sovereign Wealth Funds written by Aaron Howard Clifford Brown and published by International Monetary Fund. This book was released on 2010-01-01 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyses the links between the investment strategies of a commodity-based SWF and the macroeconomic framework of the owner country. We examine some basic macrofinancial linkages of an SWF's strategic asset allocation (SAA) strategies with regard to the government budget, monetary policy, and exchange rate movements. Based on a simple Markowitz-model framework, which integrates the specific objectives and constraints facing an SWF and the country's specific characteristics and macroeconomic vulnerabilities (especially in relation to commodity prices and prospective defined liabilities), we derive an SAA. The asset-liability methodology that is applied in the selection of an SWF SAA also allows assessing whether (i) the SAA adequately takes into account the country-specific risks and vulnerabilities, and (ii) its objectives and macrofinancial constraints are consistent. Some analytical and practical issues in determining an SAA model are also discussed, along with key effects of a financial crisis.
Download or read book Commodity Based Sovereign Wealth Funds written by Omosalewa Oluyinka Olawoye and published by . This book was released on 2016 with total page 145 pages. Available in PDF, EPUB and Kindle. Book excerpt: Natural resource producing countries struggle with issues about how to make use of their natural resources properly, allocate the funds from these resources and how to ensure continuity of these resources and their effects through the years. Commodity based sovereign wealth funds offer a channel through which these can be achieved. This dissertation studies these funds with respect to how they can be used to finance development in resource rich countries. Each chapter examines natural resource funded sovereign wealth funds called commodity based sovereign wealth funds (CBSWF), from different angles. This includes analyses of what these funds are, how they are currently used, the dangers in the current savings-‐like investment strategy and then proposes new real investment strategies that can encourage growth for these countries. The aim of these analyses is to suggest these funds as an alternative path towards growth and development in natural resource owning economies. To achieve this, we look at the pre-‐ and post-‐ CBSWF era of some CBSWF owning countries except for Iraq, Iran and Libya, which have recently experienced wars that have disrupted these economies and countries. Some of the countries being studied have recently adopted these funds or have not done anything with these funds. Thus, it is difficult to analyze the effects of these funds in these countries. We compare these countries’ Gross Development Product (GDP) and their Human Development Indicators (HDI). We analyze these data before and after these funds were adopted in these countries to see how effective these funds have been with respect to economic growth and development. We take a look at the failures of the current savings led investment strategy of some countries that have adopted these funds. Then we propose alternative real sector development financing that ensures sustainable growth in these countries. This is done in order to advocate for a real investment led growth in natural resource owning countries.
Download or read book Economics of Sovereign Wealth Funds written by Mr.Udaibir S. Das and published by International Monetary Fund. This book was released on 2010-12-09 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book covers a wide range of topics of relevance to policymakers in countries that have sovereign wealth funds (SWFs) and those that receive SWF investments. Renowned experts in the field have contributed chapters. The book is organized around four themes: (1) the role and macrofinancial linkages of SWFs, (2) institutional factors, (3) investment approaches and financial markets, and (4) the postcrisis outlook. The book also discusses the challenges facing sovereign wealth funds in the coming years, from an inside perspective on countries, including Canada, Chile, China, Norway, Russia, and New Zealand. Economics of Sovereign Wealth Funds will contribute to a further understanding of the nature, strategies and behavior of SWFs and the environment in which they operate, as their importance is likely to grow in the coming years.
Download or read book The New Economics of Sovereign Wealth Funds written by Massimiliano Castelli and published by John Wiley & Sons. This book was released on 2012-09-14 with total page 245 pages. Available in PDF, EPUB and Kindle. Book excerpt: A complete guide to sovereign wealth funds written by and for industry practitioners Sovereign wealth funds (SWFs) aren't new, but they are often misunderstood. As they've attracted more attention over the last decade and grown greatly in size, the need for a new and thorough resource on SWFs has never been greater. These funds will only grow more important over the coming years. In this book, expert authors who work in the industry present a comprehensive look at SWFs from the perspective of western investors.
Download or read book Commodity based Sovereign Wealth Funds written by Abdullah Al-Hassan and published by International Monetary Fund. This book was released on 2018-02-09 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Commodity-based sovereign wealth funds (SWFs) have been at a crossroads following the recent fall in commodity prices. This paper provides a framework for commodity-based SWF management, focusing on stabilization and savings funds, by (i) examining macrofiscal linkages for SWFs; (ii) presenting an integrated sovereign asset and liability management (SALM) approach to SWF management; and (iii) applying this framework to a scenario where assets are being accumulated and to a scenario where the SWF is drawn on to cover a financing gap due to lower commodity prices.
Download or read book Sovereign Wealth Funds written by Christopher Balding and published by Oxford University Press. This book was released on 2012-02-08 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Sovereign wealth funds are a growing and dynamic force in international finance. The shifting international economic relations from capital rich states gives them new power in influencing the global agenda. Despite controlling trillions of dollars in the biggest companies in the world, little is known about the opaque funds of oil rich and non-democratic governments. This is the first book to compile a history of sovereign wealth funds recounting the Abu Dhabi Investment Authority's involvement with the scandal-plagued BCCI bank and Chinese arms exports to Iran. By constructing a history within the proper context of oil driven surpluses and large inflationary pressures with no international investment framework, this book explains the development and growth of sovereign wealth funds. The economics of capital surplus countries and investment strategies are examined in order to better understand sovereign wealth fund creation and growth. In a straightforward and accessible style, the author examines the complex and amazing growth of an unknown group of investors controlling trillions of dollars worldwide.
Download or read book How to Spend It written by and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book How to Spent it Commodity and Non commodity Sovereign Wealth Funds written by Helmut Reisen and published by . This book was released on 2008 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Practical Guide to Sovereign Wealth Funds written by Adnan Hassan and published by Euromoney Publications. This book was released on 2009 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: This much-needed practical guide covers everything you need to further your understanding of sovereign wealth funds (SWFs) - the state-owned investment funds.
Download or read book Sovereign Wealth Funds and Long term Investing written by Patrick Bolton and published by Columbia University Press. This book was released on 2012 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sovereign wealth funds (SWFs) are state-owned investment funds with combined asset holdings that are fast approaching four trillion dollars. Recently emerging as a major force in global financial markets, SWFs have other distinctive features besides their state-owned status: they are mainly located in developing countries and are intimately tied to energy and commodities exports, and they carry virtually no liabilities and have little redemption risk, which allows them to take a longer-term investment outlook than most other institutional investors. Edited by a Nobel laureate, a respected academic at the Columbia Business School, and a longtime international banker and asset manager, this volume examines the specificities of SWFs in greater detail and discusses the implications of their growing presence for the world economy. Based on essays delivered in 2011 at a major conference on SWFs held at Columbia University, this volume discusses the objectives and performance of SWFs, as well as their benchmarks and governance. What are the opportunities for SWFs as long-term investments? How do they fulfill their socially responsible mission? And what role can SWFs play in fostering sustainable development and greater global financial stability? These are some of the crucial questions addressed in this one-of-a-kind volume.
Download or read book Development in Turbulent Times written by Paul Dobrescu and published by Springer. This book was released on 2019-03-20 with total page 199 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book explores the most recent trends in the EU in terms of development, progress, and performance. Ten years after the 2008 economic crisis, and amidst a digital revolution that is intensifying the development race, the European Union, and especially Central and Eastern Europe, are ardently searching for their development priorities. Against this background, by relying on a cross-national perspective, the authors reflect upon the developmental challenges of the moment, such as sustainable development, reducing inequality, ensuring social cohesion, and driving the digital revolution. They particularly focus on the relation between the less-developed Eastern part of the EU and its more developed Western counterpart, and discuss the consequences of this development gap in detail. Lastly, the book presents a range of case studies from different areas of governance, such as economy and commerce, health services, education, migration and public opinion in order to investigate the trends most likely to impact the European Union's medium and long-term development.
Download or read book Sovereign Wealth Funds written by Cynthia A. Glassman and published by DIANE Publishing. This book was released on 2009-12 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sovereign wealth funds (SWF) are government-controlled funds that seek to invest in other countries. With new funds being created and many growing rapidly, some see these funds providing valuable capital to world markets, but others are concerned that the funds are not transparent and could be used to further national goals and potentially harm the countries where they invest. This report analyzed: (1) the availability of publicly reported data from SWFs and others on their sizes and holdings internationally; and (2) the availability of publicly reported data from the U.S. gov¿t. and other sources on SWFs' U.S. investments. ¿Provides timely and useful contributions to the SWF debate.¿ Charts and tables.
Download or read book Sovereign Wealth Funds in Resource Economies written by Khalid Alsweilem and published by Columbia University Press. This book was released on 2017-10-17 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sovereign wealth funds (SWFs) have reached a transitional moment. Created as a way to direct excess wealth toward economic development and long-term financial returns, some countries are now seeing a decline in revenue from sources such as oil. Many SWFs are now facing a new challenge—how to spend sustainably without depleting the funds. Sovereign Wealth Funds in Resource Economies explains the fiscal rules and institutional structures that can make SWFs thrive, providing a practical and theoretical guide to their optimal use in resource-revenue management. Khalid Alsweilem and Malan Rietveld put forward an institutional perspective of SWFs as quasi-independent political and economic entities charged with managing national resource wealth, examining both investment and disbursement strategies. They advance a systematic, rule-based approach, suggesting when to accumulate and when to begin countercyclical spending based on concrete case studies. More than a mere financial portfolio, SWFs must be embedded in a credible fiscal and institutional framework if they are to contribute to improved economic performance. Alsweilem and Rietveld consider the variety of relationships that exist between SWFs and their governments, exploring the legal and policy side of the institutional approach. Their rule-based description of SWFs, since it allows tailoring and adjustment and invokes rules of thumb and best practices, is intended to be widely applicable across the diverse spectrum of global SWFs. Bringing together the practitioner perspective and scholarly expertise, this book will be invaluable for global policy makers and scholars working with sovereign wealth funds.
Download or read book Sovereign Wealth Funds written by Gordon L. Clark and published by Princeton University Press. This book was released on 2013-07-21 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: The worldwide rise of sovereign wealth funds is emblematic of the ongoing transformation of nation-state economic prospects. Sovereign Wealth Funds maps the global footprints of these financial institutions, examining their governance and investment management, and issues of domestic and international legitimacy. Through a variety of case studies--from the China Investment Corporation to the funds of several Gulf states--the authors show that the forces propelling the adoption and development of sovereign wealth funds vary by country. The authors also show that many of these investment institutions have identifiable commonalities of form and function that match the core institutions of Western financial markets. The authors suggest that the international legitimacy of sovereign wealth funds is based on the degree to which their design and governance match Western expectations about investment management. Undercutting commonplace assumptions about the emerging world of the twenty-first century, the authors demonstrate that even small countries with large and globally oriented sovereign wealth funds are likely to play a significant role in international relations. Sovereign Wealth Funds considers how such financial organizations have altered not only the face of finance, but also the international geopolitical landscape.
Download or read book The New Frontiers of Sovereign Investment written by Malan Rietveld and published by Columbia University Press. This book was released on 2017-05-16 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sovereign wealth funds (SWFs) can be effective tools for national resources revenue management. These state-owned investments, funded by commodity exports, foreign exchange reserves, or other national assets, are adaptable to the challenges posed by financial shocks and have been successfully employed in an increasing number of countries. The number of SWFs continues to grow, with the largest funds managing trillions of dollars in assets among them. However, given the significant variations among SWFs, it can be difficult to compare funds that differ in size, scope, and mandate. This book provides a sorely needed practical look at how these funds work—and how they should work. The New Frontiers of Sovereign Investment combines the insights and experience of academic economists and practitioners from several funds to survey a diverse financial landscape and establish the challenging topical questions facing a broad range of SWFs today: Should they serve both economic development and financial returns, and how? Will responsible investment enhance long-term returns? How can fiscal rules for SWFs be improved to meet emerging economic challenges? The book considers these questions as they apply to both long-established and newer SWFs. Featuring contributions from sovereign wealth practitioners from Alberta's AIMCo, the Nigerian Sovereign Investment Authority, and the New Zealand Superannuation Fund, as well as analysis by scholars at the forefront of sovereign investment, this volume provides timely and much-needed information on these rapidly evolving institutions.
Download or read book Sovereign wealth funds in theory and practice written by Jan Ander and published by Charles University in Prague, Karolinum Press. This book was released on 2014-08-01 with total page 131 pages. Available in PDF, EPUB and Kindle. Book excerpt: Suverénní fondy (Sovereign Wealth Funds, SWF) se v posledních letech stávají významnou součástí globálního finančního systému. Tyto instituce spravovaly ke konci roku 2013 více než 6 bilionů USD. SWF jsou státem vlastněné fondy založené za různým makroekonomickým účelem. Obvykle jsou financovány cizoměnovými příjmy států, které jsou následně investovány v zahraničí. Tato monografie se zabývá globální SWF z teoretického i praktického pohledu. Dále je zde diskutována teoretická možnost založení SWF v České republice. Autoři však dospívají k závěru, že po vzniku SWF není v naší zemi dostatečná poptávka ani ze strany politiků, ani ze strany voličů. Kniha je psána srozumitelným jazykem, a tudíž vhodná pro odbornou i širší veřejnost
