Global Disequilibria

Part of the International Political Economy Series book series (IPES)


Sovereign wealth funds (SWFs) have caused a great deal of discussion and concern because of their size, the speed of their growth, their ownership and, more importantly, what they stand for in a changing global economy – a new group of investors controlled, managed and supported by their states. In 2007 and 2008, a scare campaign about the nature of SWFs was rampant in the USA and some European countries: investment from SWFs, it was argued, was threatening some countries’ national interest by hollowing out economies and national flag companies, by taking over national resources and by controlling national infrastructures.


International Monetary Fund Current Account Private Equity Rich Country Recipient Country 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.


  1. Aizenman, Joshua and Jaewoo Lee (2006), ‘Financial Versus Monetary Mercantilism: Long-run View of Large International Reserves Hoarding’, IMF Working Paper 06/280.Google Scholar
  2. Al-Suwaidi, H.E. Hamad Al Hurr (2008), ‘Statement at meeting of the International Monetary and Financial Committee’, International Working Group of Sovereign Wealth Funds, Washington, DC, 11 October.Google Scholar
  3. Barysch, Katinka, Simon Tilford and Philip Whyte (2008), ‘State, Money and Rules: An EU Policy for Sovereign Investments’, Centre for European Reform, London, December.Google Scholar
  4. Behrendt, Sven. (2008), ‘When Money Talks: Arab Sovereign Wealth Funds in The Global Public Policy Discourse’, Carnegie Papers, 12, October.Google Scholar
  5. Blanchard, Oliver and Gisn Msria Milesi-Ferretti (2009), ‘Global Imbalances: In Midstream?’, IMF Research Department, 22 December.Google Scholar
  6. Calleo, David P. (2009), ‘Twenty-first Century Geopolitics and the Erosion of the Dollar Order’, in Eric Helleiner and Jonathan Kirshner (eds), The Future of the Dollar. Ithaca, NY: Cornell University Press, pp.164–90.Google Scholar
  7. Chesterman, Simon. (2008), ‘The Turn to Ethics: Disinvestment From Multinational Corporations for Human Rights Violations – The Case of Norway’s Sovereign Wealth Fund’, American University International Law Review, 23(3), pp. 577–615.Google Scholar
  8. Cohen, Benjamin J. (2009), ‘Toward a Leaderless Currency System’, in Eric Helleiner and Jonathan Kirshner (eds), The Future of the Dollar. Ithaca, NY: Cornell University Press, pp. 142–63.Google Scholar
  9. Cooper, Richard N. (2007), ‘Living with Global Imbalances’, Brookings Papers on Economic Activity, 2, pp. 91–107.Google Scholar
  10. Emmanuel, William and Hepher, Tim (2008), ‘Sarkozy vows to defend France against wealth funds’, Reuters UK, 9 January.Google Scholar
  11. GAO (2008a), ‘Foreign Investment: Laws and Policies Regulating Foreign Investment in 10 Countries’, GAO-08–320, February.Google Scholar
  12. GAO (2008b), ‘Sovereign Wealth Funds: Publicly Available Data on Sizes and Investments for Some Funds are Limited’, GAO-08–946, September.Google Scholar
  13. Goldstein, Morris and Nicholas Lardy (2005), ‘China’s Role in the Revived Bretton Woods System: A Case ff Mistaken Identity’, Working Paper 05–2, Peterson Institute for International Economics, Washington, DC.Google Scholar
  14. Helleiner, Eric and Jonathan Kirshner (2009), ‘The Future of the Dollar: Whither the Key Currency?’, in Eric Helleiner and Jonathan Kirshner (eds), The Future of the Dollar. Ithaca, NY: Cornell University Press, pp. 1–23.Google Scholar
  15. Hidebrand, Philip. (2007), ‘The Challenge of Sovereign Wealth Funds’, Speech at the International Centre for Monetary and Banking Studies, Geneva, 18 December.Google Scholar
  16. Jackson, James K. (2009), ‘The United States as a Net Debtor Nation: Overview of the International Investment Position’, Congressional Research Services, RL32964, 3 August.Google Scholar
  17. James, Harold. (2009), ‘The Enduring International Pre-eminence of the Dollar’, in Eric Helleiner and Jonathan Kirshner (eds), The Future of the Dollar. Ithaca, NY: Cornell University Press, pp. 24–44.Google Scholar
  18. Kirshner, Joshua. (2009), ‘Sovereign Wealth Funds and National Security: The Dog that will Refuse to Bark’, Geopolitics, 14, pp. 305–16.CrossRefGoogle Scholar
  19. Kotter, Jason and Ugur Lel Ugur (2008), ‘Friends or foes? The Stock Price Impact of Sovereign Wealth Fund Investments and the Price of Keeping Secrets’, International Finance Discussion Paper, No. 940, Board of Governor of the Federal Reserve System, August.Google Scholar
  20. Kyte, Rachel. (2008), ‘Balancing Rights with Responsibilities: Looking for the Global Drivers of Materiality in Corporate Social Responsibility and the Voluntary Initiatives that Develop and Support Them’, American University International Law Review, 23(3), pp. 559–76.Google Scholar
  21. Largo, M, R. Duttagupta and R. Goyal (2009), ‘The Debate on the International Monetary System’, IMF Strategy, Policy and Review Department, 11 November.Google Scholar
  22. Levelle, Kathryn C. (2008), ‘The Business of Governments: Nationalism in the Context of Sovereign Wealth Funds and State-Owned Enterprises’, Journal of International Affairs, 62(1), pp. 131–47.Google Scholar
  23. Liu, Pand and Junbo Zhu (2008), ‘The Management of China’s Huge Foreign Reserve and Its Currency Composition’, Working Papers of the Institute of Management Berlin, Berlin School of Economics, No. 37, 04/2008.Google Scholar
  24. Lyons, Gerard. (2007), ‘State Capitalism: The Rise of Sovereign Wealth Funds’, Law and Business Review of the Americas, 14(1), pp. 1–62.Google Scholar
  25. Rugaber, Christopher S. (2008), ‘Analysts: Government Funds Heat Up Oil Prices’, Associated Press, 18 March.Google Scholar
  26. Senn, Myriam. (2009), ‘Sovereign Wealth Funds as Public-Private Challenge for Institutional Governance’, paper presented at Sovereign Wealth Funds: Governance and Regulation, organised by the Faculty of Law, National University of Singapore, 9–11 September.Google Scholar
  27. Steil, Benn and Manuel Hinds (2009), Money, Markets & Sovereignty. New Haven, CT: Yale University Press.Google Scholar
  28. Stiglitz, Joseph. (2008), ‘Regulating Multinational Corporations: Towards Principles of Cross-Border Legal Frameworks in a Globalised World Balancing Rights and Responsibilities’, American University International Law Review, 23(3), pp. 451–558.Google Scholar
  29. Strange, Susan. (1988), States and Markets. London: Pinter Publishers.Google Scholar
  30. Summers, Lawrence. (2007), ‘Funds that Shape Capitalist Logic’, Financial Times, 29 July.Google Scholar
  31. World Bank (2002), ‘Striking a Better Balance – the World Bank Group and the Extractive Industries: The Final Report of the Extractive Industries Review’, The World Bank, Washington, DC.Google Scholar
  32. World Bank and International Financial Corporation (2002), Treasure or Trouble? Mining in Developing Countries. Washington, DC: The World Bank.Google Scholar
  33. Yi, Gang. (2008), ‘Renminbi Exchange Rates and Relevant Institutional Factors’, in Wang Mengkui (ed.), China in the Wake of Asia’s Financial Crisis. New York: Routledge, pp. 59–67.Google Scholar

Copyright information

© Xu Yi-chong 2010

Authors and Affiliations

There are no affiliations available

Personalised recommendations