This book highlights the interplay between legal, corporate and policy imperatives associated with the regulation of state capital. Including contributions from leading practitioners, policymakers and academics, it provides an essential guide to professionals and academics in the fields of finance and business.Contents: Introduction:Sovereign Wealth Funds in an Evolving Global Financial System (Renée Fry, Warwick McKibbin & Justin O'Brien)Structure and Impacts on the Global Economy:What is a Sovereign Wealth Fund? (Stephen Grenville)Sovereign Wealth Funds and Global Capital Flows: A Macroeconomic Perspective (Julie Kozack, Doug Laxton & Krishna Srinivasan)A Portfolio Analysis of Sovereign Wealth Funds (Christopher Balding)The Implications of Sovereign Wealth Fund Investment on Capital Markets: A Bottom-Up View (David G Fernandez)Regulation and Public Policy Issues:The Political Economy of Sovereign Wealth Funds (Avinish Persaud)Open Capital Markets and Sovereign Wealth Funds, Pension Funds, and State-Owned Enterprises (Adrian Blundell-Wignall & Gert Wehinger)Negotiating a Voluntary Code (David Murray)Legal Implications:Mapping the Trajectory of the Regulatory Debate: Securing the National Interest or Justifying Protectionism? (Justin O'Brien)Australian Regulation of Investments by Sovereign Wealth Funds and State-Owned Enterprises (Greg Golding & Rachael Bassil)Conclusion:Sovereign Wealth Funds: What Have We Learned? (David Vines)
Readership: Postgraduate students, researchers and professionals in the areas of international finance/trade and policy studies.
Keywords:Sovereign Wealth Funds;State-Owned Enterprise;Capital Markets;Santiago Principles;Regulation of State CapitalKey Features:The first major collection on sovereign wealth funds and state-owned enterprise investmentsFeatures the latest research from both practitioners and academicsProvides an essential guide to the geopolitical impact of sovereign wealth funds and state-owned enterprise investments
The authors simulate the impact of environmental taxes on the U.S. economy using their Intertemporal General Equilibrium Model (IGEM). This highly innovative model incorporates expectations about future prices and policies. The model is estimated econometrically from an extensive 50-year dataset to incorporate the heterogeneity of producers and consumers. This approach generates confidence intervals for the outcomes of changes in economic policies, a new feature for models used in analyzing energy and environmental policies. These outcomes include the welfare impacts on individual households, distinguished by demographic characteristics, and for society as a whole, decomposed between efficiency and equity.