Articles

13 Items

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Journal Article - Middle East Institute

Sovereign Wealth Funds in Small Open Economies

| Apr. 24, 2018

The small open economies of the Gulf and Southeast Asia are pioneers in the establishment of

Sovereign Wealth Funds (SWFs). The SWFs of countries like Qatar and Singapore are among the

world’s largest in terms of total asset size relative to Gross Domestic Product. This article looks

at the different compulsions behind the setting up of SWFs by small open economies.

 

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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.

Gas pipeline Dzuarikau-Tskhinval

Wikimedia Commons

Journal Article - Elsevier Inc. Energy Research & Social Science

Invisible but not indivisible: Russia, the European Union, and the importance of “Hidden Governance”

| February 2016

This article considers a number of political explanations for gas policy and shows that it is usually the economic interests of big energy firms that frequently take precedence, although these are often ignored and hidden as factors.

Presidential Palace Ankara - Meeting between President of Turkey Recep Tayyip Erdogan and President of Russian Federation Vladimir Putin, Ankara, 1 December 2014

Wikipedia Commons

Magazine Article - Foreign Affairs

A Kink In the Pipeline: Why Turkish-Russian Gas Diplomacy Won't End Well for Ankara

| October 11, 2015

On December 1, 2014, during a visit to Turkey, Russian President Vladimir Putin abruptly announced that Gazprom was cancelling the South Stream pipeline, which would have taken natural gas from Russia through the Black Sea to Bulgaria, and through Serbia, Hungary, and Slovenia to Austria. That same day, BOTAŞ, Turkey’s state-owned pipeline company, and Gazprom signed a memorandum of understanding for the construction of a new offshore gas pipeline named Turkish Stream, which would boast a capacity of 63 billion cubic meters (bcm) per year and would run from Russia, under the Black Sea, and on to the Turkish–Greek border. In the first phase of the project, starting in December 2016, Russia agreed to supply some 16 bcm to Turkey. In the second phase, the remaining 47 bcm would be delivered to the planned hub on the Turkish side of the Turkish–Greek border.

U.S. Sailors assigned to Navy Cyber Defense Operations Command (NCDOC) man their stations at Joint Expeditionary Base Little Creek-Fort Story, Va., Aug. 4, 2010.

U.S. Navy Photo

Journal Article - Quarterly Journal: International Security

The Myth of Cyberwar: Bringing War in Cyberspace Back Down to Earth

    Author:
  • Erik Gartzke
| Fall 2013

Cyberwar has been described as a revolution in military affairs capable of overturning the prevailing world order. By itself, however, cyberwar can achieve neither conquest nor, in most cases, coercion. Conflict over the internet is much more likely to serve as an adjunct to, rather than a substitute for, existing modes of terrestrial force, and to augment the advantages of status quo powers rather than threatening existing political hierarchies.

March 8, 2012: Norwich University student Adam Marenna, of Belair, Md.  Deep in the bowels of a building on the campus of the nation's oldest private military academy, students from across the globe are being taught to fight the war of the future.

AP Photo/Toby Talbot

Journal Article - Quarterly Journal: International Security

The Meaning of the Cyber Revolution: Perils to Theory and Statecraft

| Fall 2013

While decisionmakers warn about the cyber threat constantly, there is little systematic analysis of the issue from an international security studies perspective. Cyberweapons are expanding the range of possible harm between the concepts of war and peace, and give rise to enormous defense complications and dangers to strategic stability. It is detrimental to the intellectual progress and policy relevance of the security studies field to continue to avoid the cyber revolution's central questions.