Sovereign Wealth Funds in Resource Economies : Institutional and Fiscal Foundations /
Alsweilem, Khalid
Sovereign Wealth Funds in Resource Economies : Institutional and Fiscal Foundations / Khalid Alsweilem, Malan Rietveld. - 1 online resource : 14 graphs
Frontmatter -- Contents -- Acknowledgments -- List of Tables and Figures -- Introduction -- Part One. An Institutional Perspective on Resource Economies and the Role of Sovereign Wealth Funds -- Chapter One. The Most Disadvantageous Lottery in the World -- Chapter Two. Getting to Denmark -- Chapter Three. Guardians of the Future Against the Claims of the Present -- Chapter Four. To Be Boring -- Part Two. Rule- Based Fiscal Policies for Sovereign Wealth Funds -- Chapter Five. It's (Still) Mostly Fiscal -- Chapter Six. Integrated Fiscal Rules for Sovereign Wealth Funds -- Chapter Seven. Governing the Fiscal Rule -- Part Three. The Governance of Operationally Independent Sovereign Investment Institutions -- Chapter Eight. Public Footprints in Private Markets -- Chapter Nine. Shadows and Siren Calls -- Chapter Ten. Summary -- Notes -- References -- Index
restricted access http://purl.org/coar/access_right/c_16ec
Sovereign wealth funds (SWFs) have reached a transitional moment. Created as a way to direct excess wealth toward economic development and long-term financial returns, some countries are now seeing a decline in revenue from sources such as oil. Many SWFs are now facing a new challenge-how to spend sustainably without depleting the funds. Sovereign Wealth Funds in Resource Economies explains the fiscal rules and institutional structures that can make SWFs thrive, providing a practical and theoretical guide to their optimal use in resource-revenue management.Khalid Alsweilem and Malan Rietveld put forward an institutional perspective of SWFs as quasi-independent political and economic entities charged with managing national resource wealth, examining both investment and disbursement strategies. They advance a systematic, rule-based approach, suggesting when to accumulate and when to begin countercyclical spending based on concrete case studies. More than a mere financial portfolio, SWFs must be embedded in a credible fiscal and institutional framework if they are to contribute to improved economic performance. Alsweilem and Rietveld consider the variety of relationships that exist between SWFs and their governments, exploring the legal and policy side of the institutional approach. Their rule-based description of SWFs, since it allows tailoring and adjustment and invokes rules of thumb and best practices, is intended to be widely applicable across the diverse spectrum of global SWFs. Bringing together the practitioner perspective and scholarly expertise, this book will be invaluable for global policy makers and scholars working with sovereign wealth funds.
Mode of access: Internet via World Wide Web.
In English.
9780231183543 9780231544993
10.7312/alsw18354 doi
2017006011
Natural resources.
Sovereign wealth funds.
BUSINESS & ECONOMICS / Industries / Natural Resource Extraction.
HJ3801 / .A47 2018 HJ3801
333.7
Sovereign Wealth Funds in Resource Economies : Institutional and Fiscal Foundations / Khalid Alsweilem, Malan Rietveld. - 1 online resource : 14 graphs
Frontmatter -- Contents -- Acknowledgments -- List of Tables and Figures -- Introduction -- Part One. An Institutional Perspective on Resource Economies and the Role of Sovereign Wealth Funds -- Chapter One. The Most Disadvantageous Lottery in the World -- Chapter Two. Getting to Denmark -- Chapter Three. Guardians of the Future Against the Claims of the Present -- Chapter Four. To Be Boring -- Part Two. Rule- Based Fiscal Policies for Sovereign Wealth Funds -- Chapter Five. It's (Still) Mostly Fiscal -- Chapter Six. Integrated Fiscal Rules for Sovereign Wealth Funds -- Chapter Seven. Governing the Fiscal Rule -- Part Three. The Governance of Operationally Independent Sovereign Investment Institutions -- Chapter Eight. Public Footprints in Private Markets -- Chapter Nine. Shadows and Siren Calls -- Chapter Ten. Summary -- Notes -- References -- Index
restricted access http://purl.org/coar/access_right/c_16ec
Sovereign wealth funds (SWFs) have reached a transitional moment. Created as a way to direct excess wealth toward economic development and long-term financial returns, some countries are now seeing a decline in revenue from sources such as oil. Many SWFs are now facing a new challenge-how to spend sustainably without depleting the funds. Sovereign Wealth Funds in Resource Economies explains the fiscal rules and institutional structures that can make SWFs thrive, providing a practical and theoretical guide to their optimal use in resource-revenue management.Khalid Alsweilem and Malan Rietveld put forward an institutional perspective of SWFs as quasi-independent political and economic entities charged with managing national resource wealth, examining both investment and disbursement strategies. They advance a systematic, rule-based approach, suggesting when to accumulate and when to begin countercyclical spending based on concrete case studies. More than a mere financial portfolio, SWFs must be embedded in a credible fiscal and institutional framework if they are to contribute to improved economic performance. Alsweilem and Rietveld consider the variety of relationships that exist between SWFs and their governments, exploring the legal and policy side of the institutional approach. Their rule-based description of SWFs, since it allows tailoring and adjustment and invokes rules of thumb and best practices, is intended to be widely applicable across the diverse spectrum of global SWFs. Bringing together the practitioner perspective and scholarly expertise, this book will be invaluable for global policy makers and scholars working with sovereign wealth funds.
Mode of access: Internet via World Wide Web.
In English.
9780231183543 9780231544993
10.7312/alsw18354 doi
2017006011
Natural resources.
Sovereign wealth funds.
BUSINESS & ECONOMICS / Industries / Natural Resource Extraction.
HJ3801 / .A47 2018 HJ3801
333.7