In this paper we unpack the possibilities and constraints facing sovereign development funds. Our focus and logic is primarily conceptual and deductive rather than directly empirical and inductive. We consider how and in what ways sovereign wealth can be employed for the purpose of economic...

Financial actors from developing countries are playing with other OECD financial giants as equals through their Sovereign Wealth Funds (SWFs). SWFs could become major actors of development finance if they chose to allocate 10 per cent of their portfolio to emerging and developing economies over...

There is a new wave of external borrowing by African governments on private sovereign bond markets. The findings in this paper indicate that African economies pay higher-than-normal coupon rates on these markets; observed risk measures like agency ratings and debt to GDP ratios do not explain...