Norways Sovereign Wealth Fund

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Norway’s Sovereign Wealth Fund

Author : Ole Bjørn Røste
Publisher : Springer Nature
ISBN 13 : 3030741079
Total Pages : 267 pages
Book Rating : 4.0/5 (37 download)

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Book Synopsis Norway’s Sovereign Wealth Fund by : Ole Bjørn Røste

Download or read book Norway’s Sovereign Wealth Fund written by Ole Bjørn Røste and published by Springer Nature. This book was released on 2021-07-19 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book elaborates on how Norway has managed to convert a large fraction of its endowment of hydrocarbons below the seabed of Norwegian waters into financial wealth, invested in the world’s capital markets. Further, it explains how this wealth is managed. Under the current guidelines, only the assessed return on investment may be allotted to public budgets. This ensures that the wealth will benefit both current and future generations. The capital is gathered in the Sovereign Wealth Fund – or State Pension Fund Global (SPF-G) –, which is intended to maximize capital value without exceeding acceptable risks. The book offers new insights into the history and management of the fund, examines its successes,and discusses future challenges. Given its scope, it appeals to scholars of economics, finance and political science, and to anyone interested in the sustainable investment of natural resource-based revenues.

Sovereign Wealth Funds, Local Content Policies and CSR

Author : Eduardo G. Pereira
Publisher : Springer Nature
ISBN 13 : 3030560929
Total Pages : 653 pages
Book Rating : 4.0/5 (35 download)

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Book Synopsis Sovereign Wealth Funds, Local Content Policies and CSR by : Eduardo G. Pereira

Download or read book Sovereign Wealth Funds, Local Content Policies and CSR written by Eduardo G. Pereira and published by Springer Nature. This book was released on 2021-01-25 with total page 653 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores three particular strategies in the extractives sector for creating shared wealth, increased labour opportunities and positive social, environmental and economic outcomes from corporate projects, namely: state wealth funds (SWF), local content policies (LCP) and corporate social responsibility (CSR) practices. Collectively, the chapters explore the associated experiences and challenges in different parts of the world with the view to inform equitable and sustainable development for the communities living adjacent to extractives sites and the wider society and environment. Examples of LCPs, SWFs and CSR practices from 12 jurisdictions with diverse experiences offer usefull insights. The book illuminates challenges and opportunities for sustainable development outcomes of the extractives sector. It reflects the need to take on board the lessons of these global experiences in order to improve outcomes for poverty reduction, inequality reduction and sustainable development.

Norway's Trillion Dollar Government Slush Fund

Author : Michael Schemmann
Publisher :
ISBN 13 : 9781503051393
Total Pages : 100 pages
Book Rating : 4.0/5 (513 download)

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Book Synopsis Norway's Trillion Dollar Government Slush Fund by : Michael Schemmann

Download or read book Norway's Trillion Dollar Government Slush Fund written by Michael Schemmann and published by . This book was released on 2014-10-31 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author is a professional Swiss and Canadian commercial and private banker, a university professor of accounting and finance emeritus, and a licensed CPA in the State of Washington. He has written extensively on issues of accounting, money and banking throughout his long career."Norway's Trillion Dollar Government Slush Fund, is a provocative title representing fairly the reality, "for words ought to be a little wild, for they are the assaults of thoughts on the unthinking." (John Maynard Keynes) The book may help to wake up the Norwegian people, the Storting, and last not least the Government of Norway and its Minister(s) of Finance to rethink the purpose and market risks of the currently (October 2014) NOK 5.7 trillion Sovereign Wealth Fund, and who if anyone has the right to speak for the unborn children and grandchildren of future generations who are the proposed beneficiaries of the fund, if that fund's wealth is still intact when they are here. The author's predictions - based on the fund manager's maverick style and misconceptions, the world's financial history, and his personal experience as a commercial & investment banker and public accountant - are that the fund will be flat, if not lost and worthless, in the rather near future. Arguments in support of the findings are made in the book, along with many charts and citations. The final analysis suggests a liquidation and distribution of the Government Pension Fund Global, as Norway's sovereign wealth fund is known, and to bring the money home where it came from, tax-free of course, at least for those people of Norway who feel micro-mismanaged by their government and wish to take the management of their wealth into their own hands, according to their own plans and priorities that may consider the future of their children and grandchildren.

Norway's Sovereign Wealth Fund

Author : Ole Bjørn Røste
Publisher :
ISBN 13 : 9783030741082
Total Pages : 0 pages
Book Rating : 4.7/5 (41 download)

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Book Synopsis Norway's Sovereign Wealth Fund by : Ole Bjørn Røste

Download or read book Norway's Sovereign Wealth Fund written by Ole Bjørn Røste and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book elaborates on how Norway has managed to convert a large fraction of its endowment of hydrocarbons below the seabed of Norwegian waters into financial wealth, invested in the world's capital markets. Further, it explains how this wealth is managed. Under the current guidelines, only the assessed return on investment may be allotted to public budgets. This ensures that the wealth will benefit both current and future generations. The capital is gathered in the Sovereign Wealth Fund - or State Pension Fund Global (SPF-G) -, which is intended to maximize capital value without exceeding acceptable risks. The book offers new insights into the history and management of the fund, examines its successes, and discusses future challenges. Given its scope, it appeals to scholars of economics, finance and political science, and to anyone interested in the sustainable investment of natural resource-based revenues.

Trillion Dollar Baby

Author : Paul Cleary
Publisher : Biteback Publishing
ISBN 13 : 1785901303
Total Pages : 173 pages
Book Rating : 4.7/5 (859 download)

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Book Synopsis Trillion Dollar Baby by : Paul Cleary

Download or read book Trillion Dollar Baby written by Paul Cleary and published by Biteback Publishing. This book was released on 2016-09-02 with total page 173 pages. Available in PDF, EPUB and Kindle. Book excerpt: For most of its history, the remote and near-Arctic nation of Norway has eked out a marginal existence from fishing, forestry and shipping. That is, until Christmas Eve 1969, when oil was discovered off its southern coast. Rather than squandering the profits (as the UK did with its North Sea oil), when the revenue began flowing, Norway put in place the most robust and visionary framework for extracting maximum benefit from non-renewable resources found anywhere in the world. Less than twenty years after the country began investing in what is now called the Government Pension Fund, Norway has the largest sovereign wealth fund in the world, with assets of US$870 billion. What's more, the fund is on track to hit the US$1 trillion mark by 2020. Not only is every Norwegian now a (krone) millionaire and enjoying the highest standard of living in the world, they will be able to hand down this endowment to their children and grandchildren. Norway's savings strategy means that it has taken a non-renewable resource and turned it into a financial asset that can last long after the oil wealth has been completely exhausted. This is the story of how they did it.

Norway Oil Fund. How Norway's Oil Fund Investment Policy Can Be Ethical

Author : Tomiwa Ogunrinde
Publisher : GRIN Verlag
ISBN 13 : 3346448061
Total Pages : 8 pages
Book Rating : 4.3/5 (464 download)

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Book Synopsis Norway Oil Fund. How Norway's Oil Fund Investment Policy Can Be Ethical by : Tomiwa Ogunrinde

Download or read book Norway Oil Fund. How Norway's Oil Fund Investment Policy Can Be Ethical written by Tomiwa Ogunrinde and published by GRIN Verlag. This book was released on 2021-07-27 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2020 in the subject Business economics - Business Ethics, Corporate Ethics, grade: A, University of Ibadan, language: English, abstract: Norway experienced an economic surpluses following improvement of its hydrocarbon resources during the 70s. This reality changed the fate of the country and they made plan for the future towards economic sustainability. This was the birth of the Norway Oil Fund also known as Government Pension Fund-Global (GPF-G). The Sovereign Wealth Fund exists as a drawn out monetary saving guaranteeing that Norway not simply the current age profit and appreciate from the nation oil riches. The Fund is $1tn and owns an average of 1.4 per cent of every listed company worldwide. The GPF-G was charged with making investment in areas that promote corporate governance, sustainable development in economic, social, and environmental terms. However, the GPF-G has come under domestic and international pressure over ethical violations in the manner in which the fund are said to have been invested in companies that promotes gambling, alcohol, forced labour, cluster bombs and nuclear weapons

Sovereign Wealth Funds

Author : Gordon L. Clark
Publisher : Princeton University Press
ISBN 13 : 0691142297
Total Pages : 236 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis Sovereign Wealth Funds by : Gordon L. Clark

Download or read book Sovereign Wealth Funds written by Gordon L. Clark and published by Princeton University Press. This book was released on 2013-07-21 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: The worldwide rise of sovereign wealth funds is emblematic of the ongoing transformation of nation-state economic prospects. Sovereign Wealth Funds maps the global footprints of these financial institutions, examining their governance and investment management, and issues of domestic and international legitimacy. Through a variety of case studies--from the China Investment Corporation to the funds of several Gulf states--the authors show that the forces propelling the adoption and development of sovereign wealth funds vary by country. The authors also show that many of these investment institutions have identifiable commonalities of form and function that match the core institutions of Western financial markets. The authors suggest that the international legitimacy of sovereign wealth funds is based on the degree to which their design and governance match Western expectations about investment management. Undercutting commonplace assumptions about the emerging world of the twenty-first century, the authors demonstrate that even small countries with large and globally oriented sovereign wealth funds are likely to play a significant role in international relations. Sovereign Wealth Funds considers how such financial organizations have altered not only the face of finance, but also the international geopolitical landscape.

Norway's Sovereign Wealth Fund

Author : Asbjorn Osland
Publisher :
ISBN 13 : 9781526473516
Total Pages : pages
Book Rating : 4.4/5 (735 download)

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Book Synopsis Norway's Sovereign Wealth Fund by : Asbjorn Osland

Download or read book Norway's Sovereign Wealth Fund written by Asbjorn Osland and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Norway's Government Pension Oil Fund Global (the Oil Fund) is funded by the excess revenues generated by Norway's oil and gas sales and income from existing holdings in the Oil Fund. It had grown to USD 1 trillion in assets, making it the world's largest sovereign wealth fund. The Council on Ethics (2016) advised the Oil Fund on what types of companies should be excluded for ethical violations. This came at the behest of several NGOs, with the concurrence of Parliament. Energy companies that derived 30% or more of their energy from coal should not be part of the Oil Fund; so too mining companies that derived over 30% of their revenues from coal were excluded. The irony was that the Oil Fund was financed by the sale of fossil fuels outside of Norway, which produced enormous amounts of greenhouse gas (GHG) emissions. As Signe Andresen and Marit Vik discuss the environmental, ethical, and decision-making issues around the Oil Fund's investments and management, key questions are raised. Should Norway's Oil Fund, which is dependent on excess revenues generated by Norway's oil and gas sales, take a strong stance against coal? Who would benefit from this stance? Should the Oil Fund promote non-renewable sources of energy use? If so, should it work with companies that are making progress away from coal or simply cut them off and remove their stocks from the portfolio?

Economics of Sovereign Wealth Funds

Author : Mr.Udaibir S. Das
Publisher : International Monetary Fund
ISBN 13 : 1589069277
Total Pages : 330 pages
Book Rating : 4.5/5 (89 download)

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Book Synopsis Economics of Sovereign Wealth Funds by : Mr.Udaibir S. Das

Download or read book Economics of Sovereign Wealth Funds written by Mr.Udaibir S. Das and published by International Monetary Fund. This book was released on 2010-12-09 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book covers a wide range of topics of relevance to policymakers in countries that have sovereign wealth funds (SWFs) and those that receive SWF investments. Renowned experts in the field have contributed chapters. The book is organized around four themes: (1) the role and macrofinancial linkages of SWFs, (2) institutional factors, (3) investment approaches and financial markets, and (4) the postcrisis outlook. The book also discusses the challenges facing sovereign wealth funds in the coming years, from an inside perspective on countries, including Canada, Chile, China, Norway, Russia, and New Zealand. Economics of Sovereign Wealth Funds will contribute to a further understanding of the nature, strategies and behavior of SWFs and the environment in which they operate, as their importance is likely to grow in the coming years.

Sovereign Wealth Funds and International Political Economy

Author : Manda Shemirani
Publisher : Routledge
ISBN 13 : 1317052145
Total Pages : 177 pages
Book Rating : 4.3/5 (17 download)

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Book Synopsis Sovereign Wealth Funds and International Political Economy by : Manda Shemirani

Download or read book Sovereign Wealth Funds and International Political Economy written by Manda Shemirani and published by Routledge. This book was released on 2016-12-05 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: For the first time, Shemirani provides a systematic methodology for the study of Sovereign Wealth Funds (SWFs) over their life span and emphasizes the need for a paradigm shift in our approach towards the study of state capitalism. Applied in this book to the world's four largest SWFs - Government Pension Fund-Global of Norway, Abu Dhabi Investment Authority of the United Arab Emirates, Temasek of Singapore, and the National Wealth Fund of the Russian Federation, this methodology can also be applied to other funds or form a basis for further analytical studies of SWFs. In addition to its first hand approach, the book addresses concerns about the lack of transparency by offering insights into the functioning and investment strategies of the selected SWFs. Academics and students in international political economy, international finance and international business as well as financiers, business leaders, and policy makers, will find the subject and the approach of this book highly useful.

Sovereign Wealth Funds

Author : Edwin M. Truman
Publisher : Peterson Institute
ISBN 13 : 0881325759
Total Pages : 219 pages
Book Rating : 4.8/5 (813 download)

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Book Synopsis Sovereign Wealth Funds by : Edwin M. Truman

Download or read book Sovereign Wealth Funds written by Edwin M. Truman and published by Peterson Institute. This book was released on 2010 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the role of sovereign wealth funds (SWFs) in the global economy and financial system. Sovereign wealth funds are not a new phenomenon in international finance. Governments of a few countries have used similar entities to manage their international financial assets for several decades. Moreover, countries have always held international reserves, and government-owned entities have made cross-border investments for many years. Sovereign wealth funds or their equivalent pose profound issues for the countries that own them with respect to macroeconomic policy and the potential for corruption. They also raise issues for countries that receive SWF investments as well as for the international financial system as a whole because government ownership introduces potential political and economic power issues into the management of these cross-border assets. This study traces the origins of SWFs. It describes the issues raised by these large governmental holdings of cross-border assets for the countries that own them, for the host countries, and for the international financial system. The study lays out what is known about the 50-plus SWFs of various countries. Some countries have more than one such entity, and a sample of government-managed pension funds is included in this analysis because they raise most of the same basic policy issues. Using publicly available information that is provided on a systematic basis, the author has previously developed a "scoreboard" for these funds involving a number of elements grouped in four categories: structure, governance, transparency and accountability, and behavioral rules. The 2008 edition contributed to the development of a set of generally accepted principles and practices, the Santiago Principles, for SWFs by the International Working Group operating under the auspices of the International Monetary Fund. This publication presents an updated scoreboard for an expanded list of funds, evaluates the Santiago Principles, and examines current compliance with those principles. The study also examines the policies of recipient countries and the role of the Organization for Economic Cooperation and Development (OECD) investment codes. Finally, the study discusses the evolving role of SWFs in the context of the global economic and financial crisis and its aftermath and will make recommendations for the policies of countries both managing such funds and those that expect to receive investments from them in the future.

The Oxford Handbook of Sovereign Wealth Funds

Author : Douglas Cumming
Publisher : Oxford University Press
ISBN 13 : 0198754809
Total Pages : 737 pages
Book Rating : 4.1/5 (987 download)

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Book Synopsis The Oxford Handbook of Sovereign Wealth Funds by : Douglas Cumming

Download or read book The Oxford Handbook of Sovereign Wealth Funds written by Douglas Cumming and published by Oxford University Press. This book was released on 2017 with total page 737 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sovereign Wealth Funds have become increasingly powerful and influential investors. Their increasing role, and unusual character as both political and market actors, raise a number of issues with regard to finance, politics, regulation, and international business. This handbook draws together the growing but fragmented research on SWFs.

Sovereign Wealth Funds

Author : Source Wikipedia
Publisher : University-Press.org
ISBN 13 : 9781230639055
Total Pages : 30 pages
Book Rating : 4.6/5 (39 download)

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Book Synopsis Sovereign Wealth Funds by : Source Wikipedia

Download or read book Sovereign Wealth Funds written by Source Wikipedia and published by University-Press.org. This book was released on 2013-09 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Pages: 29. Chapters: The Government Pension Fund of Norway, Sovereign wealth fund, Istithmar World, Temasek Holdings' investments, China Investment Corporation, Stabilization Fund of the Russian Federation, State Administration of Foreign Exchange, Abu Dhabi Investment Council, Australian Government Future Fund, Government of Singapore Investment Corporation, Abu Dhabi Investment Authority, Libyan Investment Authority, List of countries by sovereign wealth funds, Alberta Investment Management, Kingdom Holding Company, Qatar Investment Authority, Nauru Phosphate Royalties Trust, China Central Huijin, Khazanah Nasional, Korea Investment Corporation, Tuvalu Trust Fund, New Zealand Superannuation Fund, Kuwait Investment Authority, Investment Corporation of Dubai, Russian National Wealth Fund, National Pension Service, Santiago Principles, State General Reserve Fund, Investment Saskatchewan, Crown Investments Corporation, Timor-Leste Petroleum Fund, Revenue Equalization Reserve Fund. Excerpt: The Government Pension Fund of Norway comprises two entirely separate sovereign wealth funds owned by the Government of Norway: The Government Pension Fund - Global (Norwegian: , SPU) is a fund into which the surplus wealth produced by Norwegian petroleum income is deposited. The fund changed name in January 2006 from its previous name The Petroleum Fund of Norway. The fund is commonly referred to as The Oil Fund (Norwegian: Oljefondet). As of the valuation in June 2011, it was the largest pension fund in the world, although it is not actually a pension fund as it derives its financial backing from oil profits and not pension contributions. As of 31 December 2010 its total value is NOK 3,077 billion ($525 bn), holding 1 per cent of global equity markets. With 1.78 per cent of European stocks, it is said to be the largest stock owner in Europe. The...

Norway's Government Pension Fund Global

Author : Magdalena Andonoska
Publisher :
ISBN 13 :
Total Pages : 280 pages
Book Rating : 4.:/5 (741 download)

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Book Synopsis Norway's Government Pension Fund Global by : Magdalena Andonoska

Download or read book Norway's Government Pension Fund Global written by Magdalena Andonoska and published by . This book was released on 2011 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sovereign Wealth Funds' (SWF) formidable purchasing power and size have been judged a threat to financial market stability. However, during the Global Financial Crisis of 2008, Sovereign Wealth Funds salvaged five firms on the verge of financial collapse -- to the total of $53 Billion (USD) in assets. This thesis' goal is to contribute to the growing research on SWFs and offer insight to market participants that may be interested in securing sovereign wealth investment flows. A database of 2456 unique companies from three global stock exchanges was created to examine the equity investment of one particular SWF, Norway's Government Pension Fund -- Global (PFG) between 2005 and 2008. The findings show that PFG targets stocks of profitable companies with increasing free cash flow and visibility on the global financial markets. PFG is not negatively influenced by gearing in a company and it does not target large companies. Furthermore, Tobin Q regression results show that market participants consider PFG a market leader in relation to stock selection, since SWF ownership generated increase in the company's market value. Therefore firms, including small cap ones, could transform their corporate models and policies to deliver the critical attributes that would attract SWF investment. This thesis contributes to the growing field of SWF research by modelling SWF investment decisions based on firm-level characteristics of target investments holdings. Future research should build upon this text by incorporating other unobserved determinants of SWF investment selection and including other SWFs in the institutional investors' database.

The Political Economy of Natural Resource Funds

Author : Eyene Okpanachi
Publisher : Springer Nature
ISBN 13 : 3030782514
Total Pages : 300 pages
Book Rating : 4.0/5 (37 download)

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Book Synopsis The Political Economy of Natural Resource Funds by : Eyene Okpanachi

Download or read book The Political Economy of Natural Resource Funds written by Eyene Okpanachi and published by Springer Nature. This book was released on 2021-08-13 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book aims to foster a better understanding of the particular challenges faced by resource-dependent countries or jurisdictions in managing their resource revenues through natural resource funds (NRFs). It explores the varieties of natural resource management strategies as dictated primarily by domestic politics, and how the potential negative distributional consequences of resource wealth management (the resource curse) may add political dimensions and potential conflicts to decisions about NRFs in ways that other sovereign wealth funds (SWFs) do not experience. By bridging the existing academic and practical knowledge gap arising from the limited attention given to the domestic politics of NRFs and state-society relations, this edited book is a valuable resource for academics, policymakers, and civil society actors in resource-driven economies and especially those interested in learning from comparative experiences of natural resource wealth management through NRFs.

Portfolio Management Practices in Sovereign Wealth Fund

Author : Inna Grybenko
Publisher : LAP Lambert Academic Publishing
ISBN 13 : 9783659357237
Total Pages : 112 pages
Book Rating : 4.3/5 (572 download)

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Book Synopsis Portfolio Management Practices in Sovereign Wealth Fund by : Inna Grybenko

Download or read book Portfolio Management Practices in Sovereign Wealth Fund written by Inna Grybenko and published by LAP Lambert Academic Publishing. This book was released on 2013 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concept of the sovereign fund as strong financial instrument which serves for stability of the country's financial system is realized in Norway under the framework of the Norwegian Government Pension Fund. The pension oil fund is managed by Norges Bank, the national bank of Norway, and has its own original investment strategy. The author makes the profound research on the investment strategy of pension oil fund, giving the insight on the international portfolio diversification and risk exposure of the investment portfolio. First, the management structure and portfolio diversification of the fund are covered, followed by the insight into the active and passive strategy performance. More detailed analysis is given to understanding of the fund's risk profile, including the analysis of the risk exposure by means of regression models. As the result of Norwegian experience the unique implications are given to the Russian sovereign wealth fund, the similar fiscal and investment government instrument in Russia.

Citizens' Wealth

Author : Angela Cummine
Publisher : Yale University Press
ISBN 13 : 030021894X
Total Pages : 295 pages
Book Rating : 4.3/5 (2 download)

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Book Synopsis Citizens' Wealth by : Angela Cummine

Download or read book Citizens' Wealth written by Angela Cummine and published by Yale University Press. This book was released on 2016-01-01 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: A wide-ranging analysis of a powerful but controversial new economic tool that has rapidly eclipsed the size of the hedge fund market In 2006, Chile teemed with protesters after finance minister Andrés Velasco invested budget surpluses from the nation's historic copper boom in two Sovereign Wealth Funds. A year later, when prices plummeted and unemployment soared, Chile's government was able to stimulate recovery by drawing on the funds. State-owned investment vehicles that hold public funds in a wide range of assets, Sovereign Wealth Funds enable governments to access an unprecedented degree of wealth. Consequently, more countries are seeking to establish them. Looking at Chile, China, Australia, Singapore, and numerous other examples, including a comparative analysis of Britain and Norway's use of oil revenues, Angela Cummine tackles the key ethical questions surrounding their use, including: To whom does the wealth belong? How should the funds be managed, invested, and distributed? With sovereign funds--and media attention--continuing to grow, this is an invaluable look at a hotly debated economic issue.