Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/60256 
Full metadata record
DC FieldValueLanguage
dc.contributor.authorReinsberg, Bernharden
dc.date.accessioned2010-07-01-
dc.date.accessioned2012-08-02T10:04:29Z-
dc.date.available2012-08-02T10:04:29Z-
dc.date.issued2009-
dc.identifier.piurn:nbn:de:101:1-20100422152en
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
dc.language.isoengen
dc.publisher|aFreie Universität Berlin, Center for International Political Economy |cBerlinen
dc.relation.ispartofseries|aPapers on International Political Economy (PIPE) |x1/2009en
dc.subject.jelE58en
dc.subject.jelF30en
dc.subject.jelF31en
dc.subject.jelF36en
dc.subject.ddc330en
dc.subject.stwStaatsfondsen
dc.subject.stwPublic Choiceen
dc.subject.stwInteressenpolitiken
dc.subject.stwIndienen
dc.titleSovereign wealth - no fund: The decisive role of domestic veto players-
dc.typeWorking Paperen
dc.identifier.ppn630967725en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:fubipe:12009en

Files in This Item:
File
Size
344.51 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.