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2009 | 12 | nr 1-2 | 115--128
Tytuł artykułu

Sovereign Wealth Funds - New Players on Global Financial Markets

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Języki publikacji
The objective of this paper is analysis of Sovereign Wealth Funds, which are becoming increasingly important players in the international monetary and financial system. Those funds are attracting growing attention not only due to last investment activities in brand-name global firms, but also due to lack of transparency and information about themselves. The article consists of two part. In the first part of the paper based on the latest literature the author presents definitions of Sovereign Wealth Funds and main factors responsible for the rise and growth of those funds. The second part of the paper deals with investment characteristics made by the largest of them. The main conclusion of this paper is that empirical analysis do not prove the thesis that investment made by SWF's has a political background. The latest available data suggest that those funds avoid investing in sensitive sectors like defense, aerospace, high technology and transportation. (original abstract)
Opis fizyczny
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  • International Monetary Fund, (2008), Sovereign Wealth Funds - A Work Agenda
  • Lyons G. (2007), State capitalism- The rise of Sovereign Wealth Funds, 'Journal of Management Research', Volume 7, Number 3
  • Miracky W., Dyer D., Fisher D., Goldner T., Legarde L., Piedrahita V., (2008), Assessing the Risk, The behaviors of sovereign wealth funds in the global economy, Monitor Company Group
  • Morgan Stanley (2007), How Big Could Sovereign Wealth Funds be by 2015?, Morgan Stanley Research Global
  • OECD, (2008), Sovereign Developments Funds, OECD Development Centre Policy Insights, No. 58
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