Sovereign Wealth Funds: A Critical Analysis

Balin, Bryan J.

doi:10.2139/ssrn.1477725

Cited by 21 publications

(17 citation statements)

References 2 publications

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“…According to Balin (2008), the transparency of the SWF is directly related to the openness of the country's political system: While funds in democratic countries such as Norway, Canada, the United States, and Australia are very open, accountable, and The Turkey Wealth Fund is intended to achieve the following (Official Gazette, 2016: 1):…”

Section: Figure 3: the Governance Of The Norwegian Government Pensionmentioning

confidence: 99%

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The Political Economy of Public Finance

Chick

2017

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in EconStor may ISBN: 978-1-912503-00-1No part of this book may be reproduced, stored in a retrieval system, transmitted in any form or by any means electronically without publisher's permission. No responsibility is accepted for the accuracy of information contained in the text, illustrations or advertisements. The opinions expressed in these chapters are not necessarily those of the editors or publisher. The publishing, scientific, ethical, and linguistic responsibilities of the chapters in this book belong to the authors.A catalogue record for this book is available from Nielsen Book Data, British Library and Google Books.The publishing responsibilities of the chapters in this book belong to the authors. Printed in London. Composer Introduction Mustafa Çelen Özkan Zülfüoğlu Elżbieta Robakhe public finance issues has become one of the vital subject affecting all economic sectors. Especially after the 2008 financial crisis, there has been intense debate on public finance issues. The issues of fiscal policy, public debts, economic growth and the redefinition of the role of the state, agricultural policies and the use of state funds are often on the agenda of policy makers. For this purpose, the chapters of the book in your hand are intended to discuss the public finance in terms of political economy. In addition, the chapters in "The Political Economy of Public Finance" seek to explain the development in public finance and fiscal policy with the key challenges.First draft of the chapters in this book were presented in 8th International Conference of Political Economy (ICOPEC) between 28th June 2017 -30th June 2017 in Belgrade at Serbia and Montenegro. The main theme of the 8th ICOPEC conference has been identified as "Institutions, National Identity, Power, and Governance in the 21st Century". The editors selected eight presented papers. Every paper was peer reviewed by two referees and become the book chapters.In chapter 1, Berna Uymaz focuses on state owned enterprises. This article analyzes how neoliberalism works through different market interventions nowadays. In accordance with this purpose, the worldwide trend of cooperation between states and capital in the neoliberal era is examined with examples from the Organisation for Economic Cooperation and Development (OECD) countries and the Middle East and North Africa Region (MENA). The study emphasizes that, in order to understand the functioning In chapter 2, Muhammet Şahin a...

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Section: Figure 3: the Governance Of The Norwegian Government Pensionmentioning

confidence: 99%

“…The first major criticism of SWFs is related to their activities. Balin (2008) asserted that the SWFs pertain to those funds that are not funded by commodity earnings. In this case, sovereign wealth funds can only grow through sterilized currency intervention and, thus, must garner returns higher than the bonds it disburses during sterilizations.…”

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confidence: 99%

The Political Economy of Public Finance

Chick

2017

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“…Either the funds can act as an "intergenerational transfer mechanism" (Balin, 2008) or the fund can act as a buffer to commodity prices if the fund diversifies its investments. In cases such as China and Singapore, which have accumulated vast amounts of foreign reserves due to trade imbalances, a SWF can also increase earnings above the return available on U.S. or European government bonds (Balin, 2008).…”

Section: Definition and Characteristicsmentioning

confidence: 99%

“…In cases such as China and Singapore, which have accumulated vast amounts of foreign reserves due to trade imbalances, a SWF can also increase earnings above the return available on U.S. or European government bonds (Balin, 2008). These objectives are not controversial.…”

Section: Definition and Characteristicsmentioning

confidence: 99%

Sovereign Wealth Funds: Investment and Governance Practices

Ainina

Mohan

2010

Journal of Asia-Pacific Business

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Sovereign wealth funds (SWFs) are large, growing, and concentrated investment vehicles, with a current estimated value of U.S. $3 trillion. The combination of low transparency and government ownership has raised questions about political agendas, national security, and transfers of technology. In this article the authors report on the current status of SWFs in terms of investments, regulation, governance, and transparency of activities. They also review some recent studies on SWF investments and their impact on financial markets.

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“…SWFs, on the other hand, face criticism for lack of transparency in of investment strategies, sources of funds and the extent of government involvement in their investment decisions. Linked to these issues are spectral suspicions that beyond profit making SWF-owning nations, especially those from non-liberal democratic Middle East and East Asian nations (Cohen 2009: 716), might use the investments to further their political interests, which could affect the security of the receiving nations (Gow 2008;Truman 2010), despite the fact that, in general, SWFs have taken heed to avoid investments that could be perceived as threats to national security of the host country (Balin 2009). However, there seemed to be some changes in attitude towards SWFs.…”

Section: Introductionmentioning

confidence: 99%

State-owned enterprises, state capitalism and social distribution in Singapore

Huat¹

2015

The Pacific Review

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State-owned enterprises and sovereign wealth funds have 'insured' Singapore's domestic economy against financial crisis and restructuring interventions from multilateral institutions, engendered elite cohesion and political stability, binding middle class employees to the political system. This essay analyses paths by which the Singapore government established state-owned enterprises and transformed them into global enterprises. It also examines how sovereign wealth funds contribute to government social expenditure without increasing taxes. Such redistribution through state capitalism resonates with the People's Action Partys social democratic origins, inviting comparisons with contemporary developments in Chinese state-capitalism.

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Sovereign Wealth Funds: A Critical Analysis

Cited by 21 publications

References 2 publications

The Political Economy of Public Finance

The Political Economy of Public Finance

Sovereign Wealth Funds: Investment and Governance Practices

State-owned enterprises, state capitalism and social distribution in Singapore

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