دانلود رایگان مقاله وجوه ثروت ملی

ABSTRACT

This paper reviews the research on the $6.65 trillion dollar Sovereign Wealth Funds (SWF). The literature, which has only appeared in the last few years, focuses for the most part on the investment behavior of SWFs, especially in light of calls for the regulation of these financial entities. The literature exhibits strong support for the idea that the motives of SWFs are economic, rather than political, as their opponents would claim. There appears to be conflicting evidence as to whether SWFs increase value.

8. Conclusions

This paper attempts to cover the nascent literature on SWFs. I believe there are two reasons for our lack of knowledge regarding SWFs. First, SWFs have been inconspicuous; therefore, almost no attention has been paid to them until recently. Second, there is the question of their opaqueness and the limited information abouttheir activities. This literature has the potential for growing and bringing more knowledge about SWFs as time progresses and more information becomes available. There is a significant amount of evidence, as covered in this paper, supporting the notion that SWFs are driven by economic motives, not political ones, and behave as economic entities maximizing their financial returns. This piece of evidence should be of great importance when discussing the regulation issues of SWFs and is surely a good point for the literature to launch from to create an appropriate system of regulation for these economic entities. The following questions and issues could lead to potential enlightening research and better understanding of how SWFs operate and function.