2022
DOI: 10.1057/s41260-022-00260-6
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Sovereign wealth funds and economic growth

Abstract: A synthetic control method in a comparative case study evaluates the potential effect of a sovereign wealth fund on the economic growth of a country. Trinidad and Tobago (T&T) is the focus of the case study. This is the first empirical research in the economic literature that attempts to evaluate the impact of a sovereign wealth fund on economic growth of an emerging economy. The results provide evidence that the fund contributed to a higher real per capita GDP of T&T by an estimate of $5104.57 (2010 US$) per … Show more

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Cited by 10 publications
(5 citation statements)
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“…While Trinidad and Tobago has seen a high level of per capita income over the last two decades, the level of income inequality and social inequality remains very high. T&T has achieved consistent growth amongst other Caribbean countries in recent years and has shown steady economic improvement as assessed by a variety of indicators (Elias-Roberts, 2021; Affuso et al ., 2022). However, poverty and inequality are moderate and relatively structurally established.…”
Section: Methodsmentioning
confidence: 98%
“…While Trinidad and Tobago has seen a high level of per capita income over the last two decades, the level of income inequality and social inequality remains very high. T&T has achieved consistent growth amongst other Caribbean countries in recent years and has shown steady economic improvement as assessed by a variety of indicators (Elias-Roberts, 2021; Affuso et al ., 2022). However, poverty and inequality are moderate and relatively structurally established.…”
Section: Methodsmentioning
confidence: 98%
“…Unlike GSR, 2021 and RAAI, 2022, the current study pays a sufficient attention to SDG incorporation and prioritization in funds' sustainability disclosures, and not just "mentioning" them. ESGE aspects were completely covered by A-ranked funds, while B-ranked funds are mostly concentrated on ESG criterion, and just few of them have a strong ethical code of conduct and anti-corruption practice 1 . For C-ranked funds, the ESG criterion is more preferable in their activity, than the ethical one.…”
Section: Sti Scoringmentioning
confidence: 99%
“…A sovereign wealth fund (SWF) is a governmentcontrolled investment vehicle that is often funded by a country's surplus reserves (Affuso et al, 2022). The basic goal of SWFs is to promote long-term prosperity and ensure the well-being of future generations (Urban, 2016).…”
Section: Introductionmentioning
confidence: 99%
“…SWFs have grown in size and quantity considerably in recent years. In 2020, there will be 89 SWFs with assets totaling about $8.2 trillion dollars, according to the SWF Institute 1 (Affuso et al, 2022).…”
Section: Introductionmentioning
confidence: 99%