Sovereign Wealth Funds in Resource Economies : Institutional and Fiscal Foundations / Khalid Alsweilem, Malan Rietveld.

Format:

Book

Author/Creator:

Alsweilem, Khalid, author.

Rietveld, Malan, author.

Language:

English

Subjects (All):

Sovereign wealth funds.

Natural resources.

Physical Description:

1 online resource (300 pages) : illustrations, tables, graphs

Place of Publication:

New York, NY : Columbia University Press, [2018]

Language Note:

In English.

Summary:

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.

Contents:

Frontmatter

Contents

Acknowledgments

List of Tables and Figures

Introduction

Part One. An Institutional Perspective on Resource Economies and the Role of Sovereign Wealth Funds

Chapter One. The Most Disadvantageous Lottery in the World

Chapter Two. Getting to Denmark

Chapter Three. Guardians of the Future Against the Claims of the Present

Chapter Four. To Be Boring

Part Two. Rule- Based Fiscal Policies for Sovereign Wealth Funds

Chapter Five. It's (Still) Mostly Fiscal

Chapter Six. Integrated Fiscal Rules for Sovereign Wealth Funds

Chapter Seven. Governing the Fiscal Rule

Part Three. The Governance of Operationally Independent Sovereign Investment Institutions

Chapter Eight. Public Footprints in Private Markets

Chapter Nine. Shadows and Siren Calls

Chapter Ten. Summary

Notes

References

Index

Notes:

Includes bibliographical references and index.

Description based on online resource; title from PDF title page (publisher's Web site, viewed 26. Mrz 2019)

ISBN:

9780231544993

0231544995

OCLC:

986523899