Articles

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Journal Article - Global Policy

The Case for Economic Development Through Sovereign Investment: A Paradox of Scarcity?

| Apr. 14, 2018

Sovereign wealth funds (SWFs) have traditionally been created to recycle excess reserves from natural resource or non‐commodity revenues. However, in recent years funds are being established under conditions of capital scarcity with objectives to contribute domestic economic development, often through the buildout of national infrastructure programs. Such trends in new fund creation represent a fundamental shift in the sovereign wealth fund paradigm and raise serious questions about how these entities are to be capitalized and also the implications of capitalization models on their sustainability. This study examines the recent evolution of SWF models focused on economic development. Its analytic focus is drawn, in particular, to countries that are neither endowed with oil wealth, nor otherwise enjoy export surpluses to be used to capitalize a development‐oriented SWF. While this study is relevant to and expands the scope of the broad literature on SWFs, its specific contribution is as a focused analysis of how SWF funding sources impact achieving long‐term financial and socio‐economic development objectives.

March 10, 2003 - Bush and his top aides engaged in last-minute telephone diplomacy to world leaders in an uphill struggle to gain support for a U.N. resolution setting up war against Iraq.

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Journal Article - American Interest

The Iraq War at Ten

| March 19, 2013

April marks the tenth anniversary of the overthrow of Saddam Hussein by the United States and its partners. At this juncture, it is reasonable for Americans—and Iraqis and others—to ask whether the past decade of U.S. involvement in Iraq was worth it. Did the large human and financial costs produce an outcome that justifies the sacrifice?