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dc.contributor.authorReinsberg, Bernharden_US
dc.date.accessioned2010-07-01en_US
dc.date.accessioned2012-08-02T10:04:29Z-
dc.date.available2012-08-02T10:04:29Z-
dc.date.issued2009en_US
dc.identifier.piurn:nbn:de:101:1-20100422152en_US
dc.identifier.urihttp://hdl.handle.net/10419/60256-
dc.description.abstractSovereign Wealth Funds (SWFs), government-owned investment funds, are of growing importance in international finance. They are a vehicle to manage foreign exchange reserves and wealth which have been accumulating in the emerging world, particularly in the BRICs. However, while China and Russia set up SWFs over the last decade, India and Brazil still lack such funds. In analysing thoroughly the Indian case, this paper seeks to contribute to recent literature on the determinants of SWFs with two main findings: First, it confirms conventional economic theory which shows the requirement of excessive foreign reserves for the set-up of SWFs. Second, it suggests that political systems matter, as demonstrated by the lively debate in India on whether that country should have such a fund. In this way, influential societal actors, in particular the central bank and regulating agencies as well as business associations, have dominated the public discourse and successfully lobbied the government to waive initial plans in support of an alternative wealth management scheme.en_US
dc.language.isoengen_US
dc.publisherFreie Univ., Arbeitsstelle Internationale Politische Ökonomie Berlinen_US
dc.relation.ispartofseriesPIPE - Papers on International Political Economy, Arbeitsstelle Internationale Politische Ökonomie, Freie Universität Berlin 1/2009en_US
dc.subject.jelE58en_US
dc.subject.jelF30en_US
dc.subject.jelF31en_US
dc.subject.jelF36en_US
dc.subject.ddc330en_US
dc.subject.stwStaatsfondsen_US
dc.subject.stwPublic Choiceen_US
dc.subject.stwInteressenpolitiken_US
dc.subject.stwIndienen_US
dc.titleSovereign wealth - no fund: The decisive role of domestic veto playersen_US
dc.typeWorking Paperen_US
dc.identifier.ppn630967725en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:fubipe:12009-
Appears in Collections:PIPE - Papers on International Political Economy, Arbeitsstelle Internationale Politische Ökonomie, FU Berlin

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