Sovereign wealth funds in theory and practice.
Title:
Sovereign wealth funds in theory and practice.
Author:
Ander, Jan.
ISBN:
9788024624426
Personal Author:
Edition:
1st ed.
Physical Description:
1 online resource (131 pages)
Contents:
Contents -- List of pictures -- List of tables -- List of abbreviations -- 1. Theoretical part -- 1.1 Literature review -- 1.2 Definition of State sovereign funds -- 1.3 Rise, development and role of SWFs -- 1.3.1 Santiago Principles -- 1.3.2 Individual objectives of funds -- 1.4 Types of SWFs based on sources of capital accumulation -- 1.5 Types of SWFs based on investment purposes -- 1.5.1 Basic profile of SWFs -- 1.5.2 Difference between SWFs and pension funds -- 1.6 Position of SWFs within global investors' portfolio -- 1.7 Investment strategy -- 1.8 Investment trends -- 1.9 Macroeconomic impact of SWFs on home and host countries -- 1.9.1 Impact on changes in currency rates, prices of assets and commodities -- 1.9.2 Impact and effect of investment decisions of SWFs on their performance -- 1.10 Overview of selected SWFs -- 1.10.1 Analysis of Government Pension Fund (GPF) -- 1.10.2 Abu Dhabi Investment Authority (ADIA) Fund -- 1.10.3 China Investment Corporation (CIC) Fund -- 1.10.4 Fundo Soberano do Brasil (FSB) -- 1.11 Overview of recent SWFs transactions -- 2. Empirical part -- 2.1 Introductory comments and methodology -- 2.2 Analysis of volume of SWFs' assets -- 2.3 Analysis of SWFs' transparency -- 2.4 Indices of SWFs' transparency -- 2.4.1 The Peterson Institute's Index of Transparency -- 2.4.2 Linaburg-Maduell Index of Transparency (LMTI) -- 2.5 Analysis of SWFs from the institutional view -- 2.6 Analysis of development of SWFs' assets in the 2008-2010 period -- 2.7 Macroeconomic impact and potential risks of SWFs -- 2.7.1 Macroeconomic impacts -- 2.7.2 A case study: Merger Tinto - BHP Billition -- 2.8 Analysis of the impact of funds on the increase of national wealth -- 2.8.1 SWFs as saving institutions -- 2.8.2 Profitability of SWF investments: public versus private sector -- 2.8.3 Political context -- 2.8.4 Tax policy.
2.8.5 Value of a fund and impact on wealth growth -- 2.8.6 Measuring efficiency of funds -- 2.9 SWFs and global disbalances -- 2.10 Theoretical example: Possibility of setting up a SWF in the Czech Republic -- 2.10.1 Economic crisis - good chance to introduce changes -- 2.10.2 Theoretical example of setting up a SWF in the Czech Republic -- 2.10.3 Revenues of a SWF in the Czech Republic -- 3. Executive summary -- 4. Bibliography -- 5. Appendices -- Index.
Abstract:
Sovereign Wealth Funds (SWFs) have been currently becoming a more and more important part of the international financial system. These institutions administrated more than USD 6 trillion under their asset management as of the end of 2013. SWFs are the funds owned by a state, set up for various macroeconomic purposes. Usually, they are financed through the transfer of foreign currency assets which are mainly long-term investments abroad. This book focuses on global SWFs from both the theoretical and empirical point of view. Moreover, it discusses a theoretical set-up of a SWF in the Czech Republic. However, there is no offer made by politicians to set up a SWF in the Czech Republic, nor any demand from the side of their voters. The simple language of the book renders it accessible for both experts and the public.
Local Note:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2017. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
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