Description
Book SynopsisThe New Frontiers of Sovereign Investment combines the insights and experience of academic economists and practitioners from several funds to survey a diverse financial landscape and the challenging questions facing a broad range of SWFs today. This book provides a sorely needed practical look at how these funds work—and how they should work.
Trade ReviewIt is hard to imagine a better lineup of contributors than those assembled in this volume. It may be the strongest single collection of sovereign wealth fund scholarship to date. This is an excellent book. -- Paul Rose, Ohio State University The New Frontiers of Sovereign Investment is the best and most comprehensive collection of information and analysis of sovereign investment, in its many forms, and consideration of its present and potential role in development. Anyone concerned with practice or policy should start here. -- Joseph C. Bell, of counsel, Hogan Lovells, and co-chair, Advisory Council, Natural Resources Governance Institute
Table of ContentsAcknowledgments Foreword, by Arunma Oteh, Vice President and Treasurer, The World Bank Part I. The Evolution of Sovereign Wealth Funds: Mandates and Governance 1. Introduction, by Malan Rietveld and Perrine Toledano, Columbia Center on Sustainable Investment 2. "Best-Practice" Sovereign Wealth Funds for Sound Fiscal Management, by Corinne Delechat, Mauricio Villafuerte, and Shu-Chun S. Yang, International Monetary Fund 3. Sovereign Wealth Funds as Long-Term Investors: Taking Advantage of Unique Endowments, by Adrian Orr, Guardians of the New Zealand Superannuation Fund 4. The Governance Implications of the Increasing Levels of Direct Investment of Sovereign Wealth Funds, by Robert Ohrenstein and James White, KPMG 5. Playthings and Parallel Budgets: The Economic and Governance Performance of Sovereign Wealth Funds, by Andrew Bauer, Natural Resources Governance Institute Part II. The Rise of Sovereign Development Funds: Debates and Policy Implementation 6. A Simple Typology of Sovereign Development Funds, by Adam D. Dixon and Ashby H. B. Monk, University of Bristol and Stanford University 7. Domestic Investment Practices of Sovereign Wealth Funds: Empirical Evidence to Inform Policy Debates, by Ekaterina Gratcheva and Nikoloz Anasashvili, The World Bank Treasury 8. Sovereign Wealth Fund Investments in the Home Economy, by Alan Gelb, Silvana Tordo, and Havard Halland, The World Bank 9. Sovereign Wealth Funds in the Context of Macro-Fiscal Frameworks for Resource-Rich Developing Countries, by Corinne Delechat, Mauricio Villafuerte, and Shu-Chun S. Yang, International Monetary Fund 10. The Role of the Nigeria Sovereign Investment Authority in a New Era of Fiscal Responsibility, by Uche Orji and Stella Ojekwe-Onyejeli, Nigeria Sovereign Investment Authority Part III. Toward the New Frontiers of Sovereign Investment 11. Responsible Investment at AIMCo, by Alison Schneider, Alberta Investment Management Corporation 12. Sovereign Wealth Funds and Long-Term Investments in Infrastructure: Why the Glaring Absence?, by Sanjay Peters, Columbia University 13. North America's Sovereign Wealth Funds: Origins, Models, and Lessons, by Malan Rietveld, Columbia Center on Sustainable Investment 14. Sovereign Venture Funds: An Emerging Frontier in Sovereign Wealth Fund Management, by Javier Santiso, IE Business School 15. Conclusion, by Malan Rietveld and Perrine Toledano, Columbia Center on Sustainable Investment Contributors Index
