Abstract
For many years sovereign wealth funds (SWFs)1 lived a quiet life without attracting much attention. They were regarded as ‘normal’ investment funds shuffling the world’s savings around like other financial institutions. The interest started to grow a few years ago for two main reasons: First, a total amount of SWFs – a potential of US$6–10 trillion by 2013, and US$12 trillion by 2015, – started to look big enough to influence international investment. Second, SWFs proliferated from a limited number and 20 new funds were set up between 2000 and 2008 (Jen 2007; Regling 2008). Finally, the Chinese government’s decision to launch China Investment Corporation (CIC) triggered particular attention despite its limited size – US$200 billion. It did not take long for statements about the potential risks of sovereign wealth funds from leading politicians to reach the headlines, accompanied by various initiatives by international institutions ‘to do something’ about SWFs.
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© 2010 Jørgen Ørstrøm Møller
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Møller, J.Ø. (2010). Nationalism or Capitalism? Sovereign Wealth Funds of Non-OECD Countries. In: Yi-chong, X., Bahgat, G. (eds) The Political Economy of Sovereign Wealth Funds. International Political Economy Series. Palgrave Macmillan, London. https://doi.org/10.1057/9780230290648_11
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DOI: https://doi.org/10.1057/9780230290648_11
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