Sovereign-Wealth Funds: the institutional dimension |
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Authors: | Dilip K Das |
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Institution: | (1) Department of International Economics, School of Business, Conestoga College, Suite N. 304, 435 Wilson Avenue, Kitchener, ON, N2C 2R9, Canada |
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Abstract: | In the recent past, the operations of the capital-rich Sovereign-Wealth Funds (SWFs) went on increasing in the global capital
markets. As the global economic crisis that started in 2007 deepened, SWF operations dramatically spurted, leading to further
progressive increase in their significance for the global capital markets. For all appearances they are going to be important
financial players in the foreseeable future. This article focuses on the basic concept of SWFs, their structure and operations.
It attempts to analyze and elucidate on them. Notwithstanding the fact that SWFs are an instrument of enhancing liquidity
and financial resource allocation in the international capital market, they managed to become a source of controversies. Consequently
they became a source of escalation in financial protectionism in several advanced industrial economies, in particular the
USA. The article concludes that this was unwarranted. Recently SWFs have attempted to device an array of best practices to
improve the transparency of their global financial operations. These measures are expected to enhance the acceptance of SWFs
as well as global recognition of their operations. They would also help in dispelling the negative image that SWFs have held
in several advanced industrial economies.
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Keywords: | Keyword" target="_blank">Keyword Sovereign-Wealth Funds |
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