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Sovereign InvestmentConcerns and Policy Reactions$
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Karl P. Sauvant, Lisa E. Sachs, and Wouter P.F. Schmit Jongbloed

Print publication date: 2012

Print ISBN-13: 9780199937929

Published to Oxford Scholarship Online: April 2015

DOI: 10.1093/acprof:osobl/9780199937929.001.0001

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Sovereign Wealth Funds and Global Finance

Sovereign Wealth Funds and Global Finance

(p.145) 6 Sovereign Wealth Funds and Global Finance
Sovereign Investment

Katharina Pistor

Oxford University Press

This chapter focuses on a number of specific sovereign wealth funds (SWFs) whose portfolios indicate strong interests in finance both in their home countries and abroad. It first reviews empirical evidence that shows SWFs having been major investors in Western financial intermediaries for decades. It then considers the organization and governance of SWFs, with particular emphasis on the three main schools of thought as well as the predictions one can derive from them vis-à-vis the behavior of individual actors in the global financial network: economic theories, economic sociology, and political economy. It also presents case studies that “test” these theories by analyzing the entry and exit decisions taken by members of the global financial network into and out of relationships with SWFs.

Keywords:   sovereign wealth funds, SWFs, financial intermediaries, organization, governance, global financial network, economic theories, economic sociology, political economy

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