The Political Economy of the Gulf Sovereign Wealth Funds

The Political Economy of the Gulf Sovereign Wealth Funds

Author: Sara Bazoobandi

Publisher: Routledge

Published: 2013

Total Pages: 210

ISBN-13: 0415522226

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Using four Gulf sovereign wealth funds as case studies - Iran, Kuwait, Saudi Arabia and the UAE - this book examines and analyses the history, governance and structure, and investment strategies of the above mentioned funds, in the context of on-going debates about their transparency. The book discusses how most Gulf sovereign wealth funds were established under colonial rule, and have operated in the global financial system for many decades. With the increase of oil revenues, it goes on to look at how the funds have broadened their asset classes and their institutional development. Debate over the transparency of sovereign wealth funds has highlighted various global practices. Recently, organisational measures have been introduced for calculating possible risks from non-commercial investment incentives of funds, whose politically-driven investment strategies are viewed as potentially a major threat to the national security of their host countries. Highlighting a number of incidents that triggered the transparency debate, the book scrutinises the reaction of some of the Gulf sovereign wealth funds to these recent regulatory codes and strategies. It is a useful contribution to Development, Political Economy and Middle East Studies.


Book Synopsis The Political Economy of the Gulf Sovereign Wealth Funds by : Sara Bazoobandi

Download or read book The Political Economy of the Gulf Sovereign Wealth Funds written by Sara Bazoobandi and published by Routledge. This book was released on 2013 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using four Gulf sovereign wealth funds as case studies - Iran, Kuwait, Saudi Arabia and the UAE - this book examines and analyses the history, governance and structure, and investment strategies of the above mentioned funds, in the context of on-going debates about their transparency. The book discusses how most Gulf sovereign wealth funds were established under colonial rule, and have operated in the global financial system for many decades. With the increase of oil revenues, it goes on to look at how the funds have broadened their asset classes and their institutional development. Debate over the transparency of sovereign wealth funds has highlighted various global practices. Recently, organisational measures have been introduced for calculating possible risks from non-commercial investment incentives of funds, whose politically-driven investment strategies are viewed as potentially a major threat to the national security of their host countries. Highlighting a number of incidents that triggered the transparency debate, the book scrutinises the reaction of some of the Gulf sovereign wealth funds to these recent regulatory codes and strategies. It is a useful contribution to Development, Political Economy and Middle East Studies.


Political Economy of the Gulf Sovereign Wealth Funds

Political Economy of the Gulf Sovereign Wealth Funds

Author: Sara Bazoobandi

Publisher:

Published: 2011

Total Pages:

ISBN-13:

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Using as case studies three GCC commodity-based sovereign wealth funds - Saudi Arabia, Kuwait, and the UAE - and the SWFs of Iran and Norway for comparison, this study examines and analyses their history, governance and structure, and investment strategies, in the context of on-going debates about their transparency. Most Gulf CSWFs, were established under colonial rule. Now owned by the region's Arab states they have operated in the global financial system since the 1960s. Since the 1970s and the enormous inflow of oil revenues, the funds have broadened their asset classes and their institutional development. Iran's SWF, one of the youngest funds in the Gulf, differs from its Arab neighbours in terms of structure and operation, and is less active internationally. Characterised by lack of transparency and corruption, Iran's sovereign wealth investments and management also lag behind those of its neighbours. Debate over the transparency of SWFs has highlighted various global practices. Norway's SWF is reputedly the most transparent in the world; its CSWF provides an operational and structural comparison for the Gulf cases. Recently, organisational measures have been introduced for calculating possible risks from non-commercial investment incentives of SWFs, whose politically-driven investment strategies are viewed as potentially a major threat to the national security of their host countries. An international working group of 25 countries that sponsor sovereign wealth funds, plus the IMF, has introduced a set of principles and practices for SWF operation, in order to minimise their possible risk of impacting negatively on global financial and political stability. Most western governments are also introducing regulatory codes to identify threats and protect their own strategic economic sectors from certain SWF investments. This study reviews certain incidents that triggered the transparency debate, and scrutinises the reaction of some of the Gulf CSWFs to these recent regulatory codes and_strategies.


Book Synopsis Political Economy of the Gulf Sovereign Wealth Funds by : Sara Bazoobandi

Download or read book Political Economy of the Gulf Sovereign Wealth Funds written by Sara Bazoobandi and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Using as case studies three GCC commodity-based sovereign wealth funds - Saudi Arabia, Kuwait, and the UAE - and the SWFs of Iran and Norway for comparison, this study examines and analyses their history, governance and structure, and investment strategies, in the context of on-going debates about their transparency. Most Gulf CSWFs, were established under colonial rule. Now owned by the region's Arab states they have operated in the global financial system since the 1960s. Since the 1970s and the enormous inflow of oil revenues, the funds have broadened their asset classes and their institutional development. Iran's SWF, one of the youngest funds in the Gulf, differs from its Arab neighbours in terms of structure and operation, and is less active internationally. Characterised by lack of transparency and corruption, Iran's sovereign wealth investments and management also lag behind those of its neighbours. Debate over the transparency of SWFs has highlighted various global practices. Norway's SWF is reputedly the most transparent in the world; its CSWF provides an operational and structural comparison for the Gulf cases. Recently, organisational measures have been introduced for calculating possible risks from non-commercial investment incentives of SWFs, whose politically-driven investment strategies are viewed as potentially a major threat to the national security of their host countries. An international working group of 25 countries that sponsor sovereign wealth funds, plus the IMF, has introduced a set of principles and practices for SWF operation, in order to minimise their possible risk of impacting negatively on global financial and political stability. Most western governments are also introducing regulatory codes to identify threats and protect their own strategic economic sectors from certain SWF investments. This study reviews certain incidents that triggered the transparency debate, and scrutinises the reaction of some of the Gulf CSWFs to these recent regulatory codes and_strategies.


Sovereign Wealth Funds

Sovereign Wealth Funds

Author: Gordon L. Clark

Publisher: Princeton University Press

Published: 2013-07-21

Total Pages: 236

ISBN-13: 0691142297

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The worldwide rise of sovereign wealth funds is emblematic of the ongoing transformation of nation-state economic prospects. Sovereign Wealth Funds maps the global footprints of these financial institutions, examining their governance and investment management, and issues of domestic and international legitimacy. Through a variety of case studies--from the China Investment Corporation to the funds of several Gulf states--the authors show that the forces propelling the adoption and development of sovereign wealth funds vary by country. The authors also show that many of these investment institutions have identifiable commonalities of form and function that match the core institutions of Western financial markets. The authors suggest that the international legitimacy of sovereign wealth funds is based on the degree to which their design and governance match Western expectations about investment management. Undercutting commonplace assumptions about the emerging world of the twenty-first century, the authors demonstrate that even small countries with large and globally oriented sovereign wealth funds are likely to play a significant role in international relations. Sovereign Wealth Funds considers how such financial organizations have altered not only the face of finance, but also the international geopolitical landscape.


Book Synopsis Sovereign Wealth Funds by : Gordon L. Clark

Download or read book Sovereign Wealth Funds written by Gordon L. Clark and published by Princeton University Press. This book was released on 2013-07-21 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: The worldwide rise of sovereign wealth funds is emblematic of the ongoing transformation of nation-state economic prospects. Sovereign Wealth Funds maps the global footprints of these financial institutions, examining their governance and investment management, and issues of domestic and international legitimacy. Through a variety of case studies--from the China Investment Corporation to the funds of several Gulf states--the authors show that the forces propelling the adoption and development of sovereign wealth funds vary by country. The authors also show that many of these investment institutions have identifiable commonalities of form and function that match the core institutions of Western financial markets. The authors suggest that the international legitimacy of sovereign wealth funds is based on the degree to which their design and governance match Western expectations about investment management. Undercutting commonplace assumptions about the emerging world of the twenty-first century, the authors demonstrate that even small countries with large and globally oriented sovereign wealth funds are likely to play a significant role in international relations. Sovereign Wealth Funds considers how such financial organizations have altered not only the face of finance, but also the international geopolitical landscape.


The Political Economy of the Persian Gulf

The Political Economy of the Persian Gulf

Author: Mehran Kamrava

Publisher: C Hurst & Company Publishers Limited

Published: 2012

Total Pages: 0

ISBN-13: 9781849042093

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Change occurs rapidly in the Persian Gulf. While some states have capitalised on the fast-paced nature of globalised fiscal transactions and have become important markets for foreign investment, others have fallen victim to such speculations. The 'Dubai Model' of economic diversification is being re-evaluated as the GCC states continue to seek the best means of organizing their economies and competing within the global order. Explaining the different ways in which globalising forces have shaped new dimensions to the political economy of the Persian Gulf states, this book evaluates the changes that have occurred, especially in light of the ongoing global economic crisis. Mutually beneficial rentier arrangements have guided the GCC countries formation of oil-based economies and labor relations in the past, but will this necessarily be the case in the future? This book addresses key issues including discussion on the future demographic aspects of the GCC; the feasibility of establishing a GCC monetary union; the effects of rentierism on state autonomy; and analysis of sovereign wealth funds and Islamic banking models.


Book Synopsis The Political Economy of the Persian Gulf by : Mehran Kamrava

Download or read book The Political Economy of the Persian Gulf written by Mehran Kamrava and published by C Hurst & Company Publishers Limited. This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Change occurs rapidly in the Persian Gulf. While some states have capitalised on the fast-paced nature of globalised fiscal transactions and have become important markets for foreign investment, others have fallen victim to such speculations. The 'Dubai Model' of economic diversification is being re-evaluated as the GCC states continue to seek the best means of organizing their economies and competing within the global order. Explaining the different ways in which globalising forces have shaped new dimensions to the political economy of the Persian Gulf states, this book evaluates the changes that have occurred, especially in light of the ongoing global economic crisis. Mutually beneficial rentier arrangements have guided the GCC countries formation of oil-based economies and labor relations in the past, but will this necessarily be the case in the future? This book addresses key issues including discussion on the future demographic aspects of the GCC; the feasibility of establishing a GCC monetary union; the effects of rentierism on state autonomy; and analysis of sovereign wealth funds and Islamic banking models.


The Political Economy of Sovereign Wealth Funds

The Political Economy of Sovereign Wealth Funds

Author: Xu Yi-chong

Publisher: Palgrave Macmillan

Published: 2010-11-15

Total Pages: 288

ISBN-13: 9780230241091

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This book examines the origin, nature, the portfolio, organizational structure and operation of the seven largest SWFs from the perspective of the holding countries. Uniquely it tackles the issues from the perspectives of those non-OECD countries whose access to funds creates the most concern.


Book Synopsis The Political Economy of Sovereign Wealth Funds by : Xu Yi-chong

Download or read book The Political Economy of Sovereign Wealth Funds written by Xu Yi-chong and published by Palgrave Macmillan. This book was released on 2010-11-15 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the origin, nature, the portfolio, organizational structure and operation of the seven largest SWFs from the perspective of the holding countries. Uniquely it tackles the issues from the perspectives of those non-OECD countries whose access to funds creates the most concern.


Money, Markets, and Monarchies

Money, Markets, and Monarchies

Author: Adam Hanieh

Publisher: Cambridge University Press

Published: 2018-09-13

Total Pages: 315

ISBN-13: 1108429149

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An original and empirically grounded analysis of the Gulf monarchies and their role in shaping the political economy of the Middle East.


Book Synopsis Money, Markets, and Monarchies by : Adam Hanieh

Download or read book Money, Markets, and Monarchies written by Adam Hanieh and published by Cambridge University Press. This book was released on 2018-09-13 with total page 315 pages. Available in PDF, EPUB and Kindle. Book excerpt: An original and empirically grounded analysis of the Gulf monarchies and their role in shaping the political economy of the Middle East.


The Transformation of the Gulf

The Transformation of the Gulf

Author: David Held

Publisher: Routledge

Published: 2013-03-01

Total Pages: 431

ISBN-13: 1136698396

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This book examines the political, economic and social transformation of the six member-states of the Gulf Cooperation Council (GCC) and the ways in which these states are both shaping, and being reshaped by, the processes of globalisation. Adopting a multidisciplinary approach, the volume combines thematic chapters focusing on issues such as globalisation, nationalism and identity, political thinking, and economic diversification and redistributive policymaking with empirical chapters studying specific aspects of reform and change: the emergence of governing markets the rise of Sovereign Wealth Funds Islamic Finance the relationship between energy and sustainability trends in foreign aid donorship, strategic and foreign policy formulation. Contributions from experts in the field provide cutting-edge snapshots of a region in flux and collectively offer a roadmap of its repositioning in the global order, examining the interaction between global processes and internal dynamics of change and resistance that inject new dimensions into debates over the loci of local and global transformations and the manner in which each plays off the other. Situating the Gulf States firmly within their global twenty-first century context, this book will hold particular appeal to theorists of globalisation as well as to scholars of comparative politics, international political economy and area studies.


Book Synopsis The Transformation of the Gulf by : David Held

Download or read book The Transformation of the Gulf written by David Held and published by Routledge. This book was released on 2013-03-01 with total page 431 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the political, economic and social transformation of the six member-states of the Gulf Cooperation Council (GCC) and the ways in which these states are both shaping, and being reshaped by, the processes of globalisation. Adopting a multidisciplinary approach, the volume combines thematic chapters focusing on issues such as globalisation, nationalism and identity, political thinking, and economic diversification and redistributive policymaking with empirical chapters studying specific aspects of reform and change: the emergence of governing markets the rise of Sovereign Wealth Funds Islamic Finance the relationship between energy and sustainability trends in foreign aid donorship, strategic and foreign policy formulation. Contributions from experts in the field provide cutting-edge snapshots of a region in flux and collectively offer a roadmap of its repositioning in the global order, examining the interaction between global processes and internal dynamics of change and resistance that inject new dimensions into debates over the loci of local and global transformations and the manner in which each plays off the other. Situating the Gulf States firmly within their global twenty-first century context, this book will hold particular appeal to theorists of globalisation as well as to scholars of comparative politics, international political economy and area studies.


Shifting Geo-Economic Power of the Gulf

Shifting Geo-Economic Power of the Gulf

Author: Bessma Momani

Publisher: Routledge

Published: 2016-04-01

Total Pages: 271

ISBN-13: 1317055411

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Bringing together for the first time distinguished Gulf experts to analyse the renewed geo-economic prominence of the Gulf states, this volume investigates some of the 'new power brokers' in the world economy: the oil-exporting states of the Gulf. The Gulf Cooperation Council's (GCC) members: Bahrain, Kuwait, Oman, Qatar, the United Arab Emirates and Saudi Arabia, collectively have the largest proven oil reserves in the world and are among the world's largest oil-exporting states. Gulf Arab states are actively pursuing a variety of foreign investment strategies. Some of these investments are being managed by sovereign wealth funds, government investment corporations, and government-controlled companies. This renewed geo-economic status has received a lot of media attention but there has been a dearth of academic study on what this shift in global economic power means for the international economic system. This volume aims to fill this gap with a rigorous scholarly analysis based on primary sources and raw economic data. It brings together the expertise of academics who have devoted their career to careful study of the region and of renowned scholars of international political economy.


Book Synopsis Shifting Geo-Economic Power of the Gulf by : Bessma Momani

Download or read book Shifting Geo-Economic Power of the Gulf written by Bessma Momani and published by Routledge. This book was released on 2016-04-01 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bringing together for the first time distinguished Gulf experts to analyse the renewed geo-economic prominence of the Gulf states, this volume investigates some of the 'new power brokers' in the world economy: the oil-exporting states of the Gulf. The Gulf Cooperation Council's (GCC) members: Bahrain, Kuwait, Oman, Qatar, the United Arab Emirates and Saudi Arabia, collectively have the largest proven oil reserves in the world and are among the world's largest oil-exporting states. Gulf Arab states are actively pursuing a variety of foreign investment strategies. Some of these investments are being managed by sovereign wealth funds, government investment corporations, and government-controlled companies. This renewed geo-economic status has received a lot of media attention but there has been a dearth of academic study on what this shift in global economic power means for the international economic system. This volume aims to fill this gap with a rigorous scholarly analysis based on primary sources and raw economic data. It brings together the expertise of academics who have devoted their career to careful study of the region and of renowned scholars of international political economy.


The Oxford Handbook of Sovereign Wealth Funds

The Oxford Handbook of Sovereign Wealth Funds

Author: Douglas Cumming

Publisher: Oxford University Press

Published: 2017

Total Pages: 737

ISBN-13: 0198754809

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Sovereign Wealth Funds have become increasingly powerful and influential investors. Their increasing role, and unusual character as both political and market actors, raise a number of issues with regard to finance, politics, regulation, and international business. This handbook draws together the growing but fragmented research on SWFs.


Book Synopsis The Oxford Handbook of Sovereign Wealth Funds by : Douglas Cumming

Download or read book The Oxford Handbook of Sovereign Wealth Funds written by Douglas Cumming and published by Oxford University Press. This book was released on 2017 with total page 737 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sovereign Wealth Funds have become increasingly powerful and influential investors. Their increasing role, and unusual character as both political and market actors, raise a number of issues with regard to finance, politics, regulation, and international business. This handbook draws together the growing but fragmented research on SWFs.


The New Post-Oil Arab Gulf

The New Post-Oil Arab Gulf

Author: Nabil Sultan

Publisher: Saqi

Published: 2012-01-16

Total Pages: 155

ISBN-13: 0863568408

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The sharp increase in oil revenues since 2002 has left the Arab Gulf States with billions of petro-dollars. But how will these countries fare in the post-oil era? The rulers of these states are taking serious measures to ensure the survival of their economies, and indeed their regimes, in a world with scarce mineral resources. This volume explores the extent to which these countries have been and will be able to prepare for the future by transforming themselves into serious international destinations for tourism, finance, healthcare and education. It also considers the implications of failure for the future survival of their regimes. This study will provide food for thought for academi, policy makers and general readers. 'An incisive enquiry into an exciting region, the authors leave no stones unturned. It is bold in its examination of both the history and the crucial changes being wrought throughout the Gulf. The book, which has been fashioned with both detailed knowledge and academic rigour, will be of huge advantage to anyone seeking a practical chart to the region. The contributors have not been restrained in drawing examples of the Gulf States over-reaching themselves to danger points in the economic downturn. The severe lessons learned have been studiously researched. The fresh opportunities, political, economic, social and technological, are concisely considered. No matter where your interests lie, this is a solid foundation from which to build a 'Way Ahead' policy for the region.' -- Charles Wilson, Director of The Consultancy, an international human resources business with Gulf experience


Book Synopsis The New Post-Oil Arab Gulf by : Nabil Sultan

Download or read book The New Post-Oil Arab Gulf written by Nabil Sultan and published by Saqi. This book was released on 2012-01-16 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sharp increase in oil revenues since 2002 has left the Arab Gulf States with billions of petro-dollars. But how will these countries fare in the post-oil era? The rulers of these states are taking serious measures to ensure the survival of their economies, and indeed their regimes, in a world with scarce mineral resources. This volume explores the extent to which these countries have been and will be able to prepare for the future by transforming themselves into serious international destinations for tourism, finance, healthcare and education. It also considers the implications of failure for the future survival of their regimes. This study will provide food for thought for academi, policy makers and general readers. 'An incisive enquiry into an exciting region, the authors leave no stones unturned. It is bold in its examination of both the history and the crucial changes being wrought throughout the Gulf. The book, which has been fashioned with both detailed knowledge and academic rigour, will be of huge advantage to anyone seeking a practical chart to the region. The contributors have not been restrained in drawing examples of the Gulf States over-reaching themselves to danger points in the economic downturn. The severe lessons learned have been studiously researched. The fresh opportunities, political, economic, social and technological, are concisely considered. No matter where your interests lie, this is a solid foundation from which to build a 'Way Ahead' policy for the region.' -- Charles Wilson, Director of The Consultancy, an international human resources business with Gulf experience