The new frontiers of sovereign investment / edited by Malan Rietveld and Perrine Toledano.

Format:

Book

Contributor:

Rietveld, Malan, editor.

Toledano, Perrine, editor.

Language:

English

Subjects (All):

Sovereign wealth funds.

Investment of public funds.

Physical Description:

1 online resource (311 pages)

Place of Publication:

New York : Columbia University Press, 2017.

Language Note:

In English.

Summary:

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.

Contents:

Frontmatter

Contents

Acknowledgments

Foreword

Part I. The Evolution of Sovereign Wealth Funds Mandates and Governance

Chapter 1. Introduction

Chapter 2. "Best-Practice" Sovereign Wealth Funds for Sound Fiscal Management

Chapter 3. Sovereign Wealth Funds as Long-Term Investors: Taking Advantage of Unique Endowments

Chapter 4. The Governance Implications of the Increasing Levels of Direct Investment of Sovereign Wealth Funds

Chapter 5. Playthings and Parallel Budgets: The Economic and Governance Performance of Sovereign Wealth Funds

Part II. The Rise of Sovereign Development Funds Debates and Policy Implementation

Chapter 6. A Simple Typology of Sovereign Development Funds

Chapter 7. Domestic Investment Practices of Sovereign Wealth Funds: Empirical Evidence to Inform Policy Debates

Chapter 8. Sovereign Wealth Fund Investments in the Home Economy

Chapter 9. Sovereign Wealth Funds in the Context of Macro-Fiscal Frameworks for Resource-Rich Developing Countries

Chapter 10. The Role of the Nigeria Sovereign Investment Authority in a New Era of Fiscal Responsibility

Part III. Toward the New Frontiers of Sovereign Investment

Chapter 11. Responsible Investment at AIMCo

Chapter 12. Sovereign Wealth Funds and Long-Term Investments in Infrastructure: Why the Glaring Absence?

Chapter 13. North America's Sovereign Wealth Funds: Origins, Models, and Lessons

Chapter 14. Sovereign Venture Funds: An Emerging Frontier in Sovereign Wealth Fund Management

Chapter 15. Conclusion

Contributors

Index

Notes:

Includes bibliographical references and index.

Description based on print version record.

ISBN:

9780231543484

OCLC:

969973650