Articles

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.

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.

Decision-makers often seek to design policies that support sustainable development. Prospective evaluations of how effectively such policies are likely to meet sustainability goals have nonetheless remained relatively challenging. Evaluating policies against sustainability goals can be facilitated through the inclusive wealth framework, which characterizes development in terms of the value to society of its underlying capital assets, and defines development to be potentially sustainable if that value does not decline over time.

Many energy consumers, and even analysts and policymakers, confront and frame energy and climate risks in a moral vacuum, rarely incorporating broader social justice concerns. Here, to remedy this gap, we investigate how concepts from justice and ethics can inform energy decision-making by reframing five energy problems — nuclear waste, involuntary resettlement, energy pollution, energy poverty and climate change — as pressing justice concerns.

Energy technology innovation is the key to driving the technological changes that are necessary to meet the challenge of mitigating energy-related greenhouse gas emissions to avoid 'dangerous climate change.' Success in innovation requires the enhancement of public investment in the innovation process, the creation of markets for low-carbon technologies through stronger climate policies, and a continued focus on energy access and equity.

A study of the 2011 controversy surrounding publication of Ron Fouchier and Yoshihiro Kawaoka's H5N1 avian influenza experiments reveals that U.S. intelligence analysts do not have adequate resources to evaluate dual-use scientific experiments, or to navigate the politics that characterize the use of technical expertise in biosecurity issues.

"...[Y]es, I think Stuxnet had a few down sides. One of those down sides was that the actual attack code became publicly available. As far as I can tell the attack code was supposed to die and not get out onto the Internet, but apparently the same way it got into Natanz [Iranian nuclear enrichment facility], it got out...."

"Getting second-rung leadership right is important for any enterprise, and for al Qaeda that meant assuring the brand and building network capacity for terror. Bin Laden was careful about deciding who would be anointed with two powerful gifts—his blessing of leadership, and formal affiliation of groups to al Qaeda central (a term he heard used by the media and, amazingly, appropriated)."

Expansion of oil sands development results not only in the release of greenhouse gas emissions, but also impacts land and water resources. Though less discussed internationally due to to their inherently local nature, land and water impacts can be severe. Research in key areas is needed to manage oil sands operations effectively; including improved monitoring of ground and surface water quality.