Articles

63 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.

Newspaper Article - Project Syndicate

Economic Growth is No Longer Enough

| Oct. 25, 2017

As new technologies subject the world’s economies to massive structural change, wages are no longer playing the central redistributive role they once did. Unless the decoupling of productivity and wages is addressed, the political convulsions many countries are experiencing will only intensify. This brings us to the central question of our era: How can leaders address the externalities produced by rapid technological change, and thereby ensure economic and political sustainability? Put another way, how can we construct a new social contract for the digital age?

Mr. James Zhan, UNCTAD Director, Division on Investment and Enterprise speaking at the Press conference on Sovereign Wealth Funds

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Journal Article - Review of International Political Economy

The Domestic Drivers of State Finance Institutions: Evidence from Sovereign Wealth Funds

| Oct. 06, 2017

Sovereign wealth funds – large state-owned investment funds – are key players in international finance, but little is known about their underlying political drivers. Why do some states with surpluses choose to create sovereign wealth funds, while others advocate private finance institutions instead? This article speaks directly to this question by investigating the variation in sovereign wealth fund choices across nations with excess reserves. 

2010 Nabucco and South Stream

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Journal Article - Problems of Post-Communism

Revisiting the Nabucco Debacle: Myths and Realities

| August 11, 2016

This paper provides an overview of the debate surrounding the Nabucco pipeline’s cancellation. Conventional wisdom holds that Nabucco failed for political reasons, but the real cause of its failure was the emergence of two more economically viable pipeline plans.

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Magazine Article - Corporate Counsel

The Inside Counsel Revolution

| April 2016

The practical ideal of the modern general counsel is a lawyer-statesperson who is an outstanding technical expert, a wise counselor and an effective leader, and who has a major role assisting the corporation achieve the fundamental goal of global capitalism: the fusion of high performance with high integrity and sound risk management. For the lawyer-statesperson, the first question is: "Is it legal?" But the ultimate question is: "Is it right?"

Gas pipeline Dzuarikau-Tskhinval

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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.