Sovereign Investment: Concerns and Policy Reactions

Edited by Karl P. Sauvant, Lisa E. Sachs, and Wouter P.F. Schmit Jongbloed (New York: Oxford University Press, 2012).

Sovereign_InvestmentSovereign Investment: Concerns and Policy Reactions provides the first major holistic examination and interdisciplinary analysis of sovereign wealth funds. These funds currently hold five trillion dollars’ worth of investments, almost twice the amount in all the hedge funds worldwide, and could hold much more by 2015. In addition, state-owned enterprises – another form of sovereign investment – play an important role in the flows and stocks of foreign direct investment.

The rapid rise of sovereign wealth funds and state-owned enterprises remains relatively unregulated, but the International Monetary Fund has helped to establish voluntary rules to introduce transparency and uniformity as regards sovereign wealth funds, and a number of countries have strengthened their regulatory frameworks regarding sovereign investment in general. What rules and procedures should govern sovereign investment? What bodies should enforce them? Do the current rules answer the national security concerns of host countries? Focusing on the foreign direct investment dimension of this issue, the editors of this volume, Karl P. Sauvant, Lisa E. Sachs, and Wouter P.F. Schmit Jongbloed, address these questions in a collection of essays by leading authorities from the IMF, OECD, academic institutions, law firms, multinational enterprises, and think tanks.

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View the front matter as well as Chapter 1 and Chapter 12 for this volume.