Sovereign Wealth Funds

Between the State and Markets

Adam D. Dixon, Patrick J. Schena, Javier Capapé

Hardback
£60.00  |  $90.00
ISBN 9781788212472
Paperback
£19.99  |  $30.00
ISBN 9781788212489
e-book
£19.99  |  $30.00
ISBN 9781788212496
152 pages   |  234 x 156mm   |  25 August 2022

Description

What constitutes a sovereign wealth fund is contested. In general, however, it is a state-sponsored institutional investor that is answerable only to the state and makes investments according to the interests and mandate of that state. Different types of funds have emerged in the context of particular economic conjunctures, and over the last decade the number of sovereign wealth funds has grown substantially, with total assets exceeding $7 trillion. This trend is set to continue, as more and more countries look to establish an SWF. The place of SWFs in global financial markets may appear settled, but this does not mean that concerns about "state capital" and its place in financial markets has gone away.

This short book offers an incisive discussion of the development of this class of investor, how they have become legitimate actors in global financial markets, and their role as providers of capital and in economic development at home and abroad.


Contents

1. What is a sovereign wealth fund?
2. The short history of sovereign wealth funds
3. Legitimizing state actors in global markets
4. The new giants in global finance: myths and realities
5. Tools of strategic development
6. The new state capitalist normal?


Author Information

Adam D. Dixon is Associate Professor of Globalization and Development at Maastricht University, the Netherlands. He is author of The New Frontier Investors (2016), The New Geography of Capitalism (2014) and Sovereign Wealth Funds: Legitimacy, Governance, and Global Power (2013).


Patrick J. Schena is BLR Professor of Practice in the Department of Economics, Tufts University and Adjunct Professor of International Business at the Fletcher School, Tufts University.


Javier Capapé is Adjunct Professor and Director of the Sovereign Wealth Research programme at the Centre for Governance of Change at IE University, Madrid. Since 2012, he has been a SovereigNET Research Affiliate at the Fletcher School, Tufts University, USA, and co-editor of the Sovereign Wealth Funds Reports series.


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