The new frontiers of sovereign investment
By: edited by Malan Rietveld and Perrine Toledano
Publisher: Columbia University Press
Published: 2017
Language: eng
Number of pages: 296
ISBN-13: 9780231177504
Subjects: Sovereign wealth funds; Investment of public funds
Description: 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.--
Notes: Includes bibliographical references and index.
Table of contents: title: Machine generated contents note: -- pt. I; title: The Evolution of Sovereign Wealth Funds: Mandates and Governance -- -- 1.; title: Introduction  -- Perrine Toledano -- 2.; title: "Best-Practice" Sovereign Wealth Funds for Sound Fiscal Management  -- Shu-Chun S. Yang -- 3.; title: Sovereign Wealth Funds as Long-Term Investors: Taking Advantage of Unique Endowments  -- Adrian Orr -- 4.; title: The Governance Implications of the Increasing Levels of Direct Investment of Sovereign Wealth Funds  -- James White -- 5.; title: Playthings and Parallel Budgets: The Economic and Governance Performance of Sovereign Wealth Funds  -- Andrew Bauer -- pt. II; title: The Rise of Sovereign Development Funds: Debates and Policy Implementation -- -- 6.; title: A Simple Typology of Sovereign Development Funds  -- Ashby H.B. Monk -- 7.; title: Domestic Investment Practices of Sovereign Wealth Funds: Empirical Evidence to Inform Policy Debates  -- Nikoloz Anasashvili -- 8.; title: Sovereign Wealth Fund Investments in the Home Economy  -- Havard Halland -- 9.; title: Sovereign Wealth Funds in the Context of Macro-Fiscal Frameworks for Resource-Rich Developing Countries  -- Shu-Chun S. Yang -- 10.; title: The Role of the Nigeria Sovereign Investment Authority in a New Era of Fiscal Responsibility  -- Stella Ojekwe-Onyejeli -- pt. III; title: Toward the New Frontiers of Sovereign Investment -- -- 11.; title: Responsible Investment at AIMCo  -- Alison Schneider -- 12.; title: Sovereign Wealth Funds and Long-Term Investments in Infrastructure: Why the Glaring Absence?  -- Sanjay Peters -- 13.; title: North Americas Sovereign Wealth Funds: Origins, Models, and Lessons  -- Malan Rietveld -- 14.; title: Sovereign Venture Funds: An Emerging Frontier in Sovereign Wealth Fund Management  -- Javier Santiso -- 15.; title: Conclusion -- Perrine Toledano.