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Sovereign wealth funds (SWFs) have become a prominent feature of the international financial landscape. They are sufficiently diverse in their origins, structures, and objectives that generalizations are perilous. However, legitimate concerns have been raised in home and host countries about the...
Persistent link: https://www.econbiz.de/10014179406
This paper investigates the major drivers of the public debt growth in 184 countries. Our analysis consists in a cross-country survey, which is conducted on the basis of the improved compilation of datasets on the central government debt for 2013. In order to differentiate between...
Persistent link: https://www.econbiz.de/10011980713
International financial relations have largely been defined by cross-border trade, foreign direct investments, and global banking relations. This paper demonstrates that another activity, sovereign investments by special vehicles known as sovereign wealth funds, is rapidly redefining the...
Persistent link: https://www.econbiz.de/10014156884
Sovereign wealth funds – state-controlled transnational portfolio investment vehicles – began as an externally imposed category in search of a definition. SWFs from different countries had little in common and no particular desire to collaborate. But SWFs as a group implicated the triple...
Persistent link: https://www.econbiz.de/10014044989
In this work we evaluate quantitatively the factors affecting the decision to establish a Sovereign Wealth Fund. The main result derives that the most influencing factor is the ratio of natural resources available in a country. We conclude that the marginal effect of this variable increases the...
Persistent link: https://www.econbiz.de/10013134076
discusses the perspectives of India's external debt management in the light of the external debt policy measures adopted by … government of India since 1991. It also analyses the external debt sustainability position of India during the period from 1991 …-92 to 2012-13. The approaches used to examine India's external debt management include (i) Review of Policy Environment that …
Persistent link: https://www.econbiz.de/10012904005
. They are a vehicle to manage foreign exchange reserves and wealth which have been accumulating in the emerging world …, particularly in the BRICs. However, while China and Russia set up SWFs over the last decade, India and Brazil still lack such funds … India on whether that country should have such a fund. In this way, influential societal actors, in particular the central …
Persistent link: https://www.econbiz.de/10014045848
What is it that makes a successful sovereign wealth fund? I outline three primary factors. First, a sovereign wealth fund needs a predictable and dedicated capital source. Second, few sovereign wealth funds have laid out clear and defined rules for withdrawal of fund capital. Third, a sovereign...
Persistent link: https://www.econbiz.de/10013102860
We review and bridge the literature on the internationalization of state-owned firms and sovereign wealth funds to provide a novel understanding of how governments’ nonbusiness objectives affect foreign investments. We explain how governments as foreign investors behave differently from...
Persistent link: https://www.econbiz.de/10013294864
This paper aims to examine the effect of Environmental, Social and Governance (ESG) performance on sovereign funding costs, with a focus on emerging countries, especially in Asia. We find that better ESG performance is associated with lower default risk, and therefore lower funding costs. We...
Persistent link: https://www.econbiz.de/10012175463