Sovereign Wealth Funds and Long-Term Development Finance : Risks and Opportunities

Sovereign wealth funds represent a large and growing pool of savings. An increasing number of these funds are owned by natural resource exporting countries and have a variety of objectives, including intergenerational equity and macroeconomic stabi...

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Bibliographic Details
Main Authors:	Gelb, Alan, Tordo, Silvana, Halland, Havard, Arfaa, Noora, Smith, Gregory
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2014
Subjects:	ACCOUNTING AFFILIATED ORGANIZATIONS ALTERNATIVE ASSET ALTERNATIVE INVESTMENT ASSET CLASS ASSET CLASSES ASSET MANAGEMENT ASSET MANAGERS AUDIT COMMITTEE AUDIT COMMITTEES BANK POLICY BONDS BORROWING COSTS BUDGETING CAPACITY CONSTRAINTS CAPITAL INVESTMENTS CAPITAL MARKET CAPITAL MARKETS CAPITAL STOCK CAPITAL STOCKS CENTRAL BANK CHECKS COMMERCIAL BASIS COMMERCIAL INVESTMENT COMMERCIAL INVESTMENTS COMMERCIAL LOANS COMMERCIAL TERMS COMPANY LAW CONFLICT OF INTERESTS CONFLICTS OF INTEREST CONTINGENT LIABILITIES CORPORATE GOVERNANCE CREDIBILITY DEBT MANAGEMENT DEBTS DEGREE OF RISK DERIVATIVES DEVELOPING COUNTRIES DEVELOPMENT BANK DEVELOPMENT FINANCE DEVELOPMENT FINANCING DIRECT INVESTMENT DIRECT INVESTMENTS DISBURSEMENTS DIVESTMENT DOMESTIC CAPITAL DOMESTIC INVESTMENT DOMESTIC MARKET DOMESTIC STOCK EXCHANGE DUE DILIGENCE ECONOMIC DEVELOPMENT EFFICIENT PORTFOLIOS EMERGING MARKETS EQUITIES EQUITY INVESTMENTS EQUITY MARKET EXCHANGE RATE EXPECTED RETURNS EXPENDITURE EXPENDITURES EXPORTERS EXTERNAL ASSETS FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MANAGEMENT FINANCIAL MARKET FINANCIAL PERFORMANCE FINANCIAL STATEMENTS FINANCIAL SUPPORT FINANCIAL SUSTAINABILITY FISCAL DEFICIT FISCAL POLICY FIXED INCOME FIXED INCOME PORTFOLIO FLOW OF INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVE FOREIGN INVESTORS FOREIGN NATIONALS FRAUD GOVERNANCE ISSUES GOVERNMENT OWNERSHIP HEDGE FUNDS HOLDING HOLDINGS HOST COUNTRY ILLIQUIDITY INCOME FLOW INFLATION INFRASTRUCTURE FINANCING INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INSTITUTIONAL INVESTORS INTERNAL AUDIT INTERNATIONAL BANK INTERNATIONAL FINANCE INTERNATIONAL INVESTMENT INTERNATIONAL INVESTORS INTERNATIONAL PORTFOLIOS INTERNATIONAL STANDARDS INVESTABLE FUNDS INVESTING INVESTMENT ACTIVITIES INVESTMENT BANKS INVESTMENT CAPITAL INVESTMENT CORPORATION INVESTMENT CRITERIA INVESTMENT DECISION INVESTMENT DECISIONS INVESTMENT FLOWS INVESTMENT FUNCTION INVESTMENT FUND INVESTMENT FUNDING INVESTMENT HORIZON INVESTMENT HORIZONS INVESTMENT INSTITUTIONS INVESTMENT MANAGEMENT INVESTMENT NEEDS INVESTMENT OPPORTUNITIES INVESTMENT POLICIES INVESTMENT POLICY INVESTMENT PORTFOLIO INVESTMENT PROCEDURES INVESTMENT PROCESS INVESTMENT PROGRAMS INVESTMENT PROJECTS INVESTMENT RETURN INVESTMENT RETURNS INVESTMENT SERVICES INVESTMENT SPENDING INVESTMENT STRATEGIES INVESTMENT VEHICLE JOINT STOCK COMPANY LENDERS LIABILITY LIQUIDITY LOCAL ECONOMY LONG TERM INVESTMENT LONG-TERM INVESTMENT LONG-TERM LIABILITIES LOW RISK INVESTMENTS MACROECONOMIC FLUCTUATIONS MACROECONOMIC MANAGEMENT MACROECONOMIC POLICY MACROECONOMIC STABILIZATION MARKET CONDITIONS MARKET DISCIPLINE MARKET PRICE MARKET REGULATOR MARKET RETURN MARKET RETURNS MINORITY SHAREHOLDERS MULTIPLIER EFFECT OIL PRICES OPERATIONAL INDEPENDENCE PENSION PENSION FUND PENSION FUNDS PENSIONS POLITICAL ECONOMY POLITICAL RISK PORTFOLIO PORTFOLIO MANAGEMENT PORTFOLIOS PRICE MOVEMENTS PRIVATE CAPITAL PRIVATE CREDIT PRIVATE EQUITY PRIVATE INVESTMENT PRIVATE INVESTORS PRIVATE PARTIES PRIVATE RETURNS PRODUCTIVE INVESTMENT PROFITABILITY PUBLIC DEBT PUBLIC DISCLOSURE PUBLIC FINANCE PUBLIC FUNDS PUBLIC INVESTMENT PUBLIC INVESTMENT PROGRAM PUBLIC INVESTMENT PROGRAMS PUBLIC INVESTMENTS PUBLIC SPENDING RATE OF RETURN REAL EXCHANGE RATE REAL PROPERTY REGULATORY FRAMEWORKS RESERVE RESERVE FUND RESERVES RETURN RETURN ON INVESTMENT RISK ADJUSTED RATE RISK DIVERSIFICATION RISK MANAGEMENT SECURITIES SHAREHOLDER STANDARD ASSET STATE BANK STATE OWNED ENTERPRISES TRADE UNION TRADING TRANSACTION TRANSPARENCY TREASURY TRUSTEE TRUSTEES VALUATION
Online Access:	http://documents.worldbank.org/curated/en/2014/02/18930592/sovereign-wealth-funds-long-term-development-finance-risks-opportunities http://hdl.handle.net/10986/17313