Sovereign Wealth Funds in Resource Economies - Institutional and Fiscal Foundations (Hardcover)

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 single-authored book will be invaluable for global policy makers and scholars working with sovereign wealth funds.

General

Imprint:	Columbia University Press
Country of origin:	United States
Release date:	October 2017
Authors:	Khalid Alsweilem • Malan Rietveld
Dimensions:	229 x 152 x 24mm (L x W x T)
Format:	Hardcover - Trade binding
Pages:	304
ISBN-13:	978-0-231-18354-3
Categories:	Books > Business & Economics > Economics > Development economics Books > Business & Economics > Economics > Macroeconomics > General Books > Business & Economics > Business & management > Management of specific areas > Budgeting & financial management Books > Business & Economics > Finance & accounting > Finance > Investment & securities > General Books > Money & Finance > Investment & securities > General
LSN:	0-231-18354-2
Barcode:	9780231183543

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