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.
Academics and students in international political economy, international finance and international business as well as financiers, business leaders, and policy makers, will find the subject and the approach of this book highly useful.
Edited by a Nobel Laureate, a respected academic at the Columbia Business School, and a longtime international banker and asset manager, this volume explores the specificities of SWFs in greater detail and discusses the implications of their growing presence for the world economy. Based on debates held at a major conference on SWFs held at Columbia University in October 2010, 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 investors? How can they maximize their social and environmental impact, while also maximizing profits? And what role can SWFs play in fostering sustainable development and greater global financial stability?
The book discusses how most Gulf sovereign wealth funds were established under colonial rule, and have operated in the global financial system for many decades. With the increase of oil revenues, it goes on to look at how the funds have broadened their asset classes and their institutional development. Debate over the transparency of sovereign wealth funds has highlighted various global practices. Recently, organisational measures have been introduced for calculating possible risks from non-commercial investment incentives of funds, whose politically-driven investment strategies are viewed as potentially a major threat to the national security of their host countries.
Highlighting a number of incidents that triggered the transparency debate, the book scrutinises the reaction of some of the Gulf sovereign wealth funds to these recent regulatory codes and strategies. It is a useful contribution to Development, Political Economy and Middle East Studies.
Islamic banks, which are becoming increasingly wealthier, are ever in search of sharia-compliant investments. In order to capitalize on this new development, investing professionals must familiarize themselves with this burgeoning investing method.
Gulf Capital & Islamic Finance introduces bankers, money managers, and investors to the strategic and technical aspects of Islamic finance, covering a broad range of vehicles, including Islamic bonds, Sukuks, ETFs, and takaful (Islamic insurance). In an era of evaporating liquidity and endless adjustments to economic crises, Islamic finance is one of the few areas that continues to grow.
This Element is an excerpt from The Rise of the State: Profitable Investing and Geopolitics in the 21st Century (9780137153879) by Yiannis G. Mostrous, Elliott H. Gue, and David F. Dittman. Available in print and digital formats.
Understand the hidden impact of sovereign wealth funds, so you can ride the waves they’re creating.
During the last decade SWFs (Sovereign Wealth Funds) evolved into critical strategic tools in the Middle East and East Asia. The rising price of crude and insatiable Western demand for cheap imports lifted what had been low-key but significant global financial players into topics for front-page stories. Their rapid proliferation and potential for long-term growth suggest that SWFs are here to stay.
The End of the Free Market details the growing phenomenon of state capitalism, a system in which governments drive local economies through ownership of market-dominant companies and large pools of excess capital, using them for political gain. This trend threatens America's competitive edge and the conduct of free markets everywhere.
An expert on the intersection of economics and politics, Ian Bremmer has followed the rise of state-owned firms in China, Russia, the Arab states of the Persian Gulf, Iran, Venezuela, and elsewhere. He demonstrates the growing challenge that state capitalism will pose for the entire global economy.
Among the questions addressed: Are we on the brink of a new kind of Cold War, one that pits competing economic systems in a battle for dominance? Can free market countries compete with state capitalist powerhouses over relations with countries that have elements of both systems-like India, Brazil, and Mexico? Does state capitalism have staying power?
This guide to the next big global economic trend includes useful insights for investors, business leaders, policymakers, and anyone who wants to understand important emerging changes in international politics and the global economy.
Puentes, fronteras y murallas disciplinarias en torno a las orga-ni-za-ciones internacionales explora la posibilidad de tender puentes y abonar a favor de un nuevo entendimiento de las OI desde las relaciones internacionales y la teoría de la organización. Constituye un ejercicio de análisis y trabajo interdisciplinario que señala puntos de encuentro y desencuentro. Al mismo tiempo, reta al lector a acercarse al estudio de las OI desde una frontera disciplinaria mucho más porosa y a veces resistente de lo que se esperaba.