Articles

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.

Indian Prime Minister Narendra Modi traveled to Washington last week, making his fourth trip to the United States since taking office just two years ago. India and South Asia Program Fellow, Ronak Desai examines the strategic approach to India's relations with the United States.

BEIRUT -- This week’s sixth anniversary of the September 11, 2001 attack on the United States sees the top American military and diplomatic officials in Iraq speaking to the US Congress about American strategy in Iraq. The juxtaposition is noteworthy: Six years ago, a small band of Al-Qaeda militants attacked the United States and killed some 3000 people. Today, an army of over 160,000 American troops wages a war in Iraq that has seen tens of thousands of people killed since 2003. Neither policy makes much sense to anyone in the world, other than to those fanatics on both sides who decided to pursue these actions.

"This introductory essay explains how this new technology is being driven by the actors (multinational corporations), markets (large global markets) and rules (intellectual property) of globalisation."

Teaching the "war on terror."