Biblioteca Digital de VanguardiaSovereign wealth fund as an instrument for primary commodity-producing countries.
Sovereign Wealth Funds (SWFs) are institutional investors in the hands of the States that have experienced substantial growth in recent years. This article primarily presents the SWFs as stabilization funds, as savings funds for intergenerational equity and as instruments within the framework of dev...
| Autores principales: | , |
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| Formato: | Revistas |
| Lenguaje: | Español |
| Publicado: |
Universidad de Cartagena
2016
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| Acceso en línea: | https://revistas.unicartagena.edu.co/index.php/panoramaeconomico/article/view/1553 |
| _version_ | 1782340309028438016 |
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| author | Ramírez Cendrero, Juan Manuel Wirth, Eszter |
| author_facet | Ramírez Cendrero, Juan Manuel Wirth, Eszter |
| author_sort | Ramírez Cendrero, Juan Manuel |
| collection | Revista |
| description | Sovereign Wealth Funds (SWFs) are institutional investors in the hands of the States that have experienced substantial growth in recent years. This article primarily presents the SWFs as stabilization funds, as savings funds for intergenerational equity and as instruments within the framework of development strategies, especially in commodities dependent countries. This research is complemented with the analysis of two SWF (Saudi Arabia and Norway) and their challenges in the financial turmoil and drop of commodities prices; likewise, with some thoughts for primary exporter economies for encouraging the use of this economic instrument. |
| format | Revistas |
| id | oai:revistas.unicartagena.edu.co:article-1553 |
| institution | Revista Panorama Económico |
| language | Español |
| publishDate | 2016 |
| publisher | Universidad de Cartagena |
| record_format | ojs |
| spelling | oai:revistas.unicartagena.edu.co:article-15532021-10-10T02:57:47Z Sovereign wealth fund as an instrument for primary commodity-producing countries. Los fondos soberanos de inversión como instrumentos para economías de inserción externa primario-exportadora. Les fonds souverains comme instrument pour les économies d’insertion externe essentiellement exportatrices. Ramírez Cendrero, Juan Manuel Wirth, Eszter Sovereign Funds Petroleum Development Developing countries Fondos soberanos Petróleo Desarrollo Países emergentes Fonds souverains Développement Pétrole Pays émergents Sovereign Wealth Funds (SWFs) are institutional investors in the hands of the States that have experienced substantial growth in recent years. This article primarily presents the SWFs as stabilization funds, as savings funds for intergenerational equity and as instruments within the framework of development strategies, especially in commodities dependent countries. This research is complemented with the analysis of two SWF (Saudi Arabia and Norway) and their challenges in the financial turmoil and drop of commodities prices; likewise, with some thoughts for primary exporter economies for encouraging the use of this economic instrument. Los Fondos Soberanos de Inversión (FSI) son inversores institucionales en manos de Estados que han experimentado un crecimiento sustancial durante los últimos años. Este artículo presenta los FSI prioritariamente como fondos de estabilización, como fondos de ahorro para la equidad intergeneracional y como instrumentos en el marco de estrategias de desarrollo, sobre todo en países dependientes de las materias primas. Este trabajo se complementará con el análisis de dos FSI (Arabia Saudí y Noruega) y sus desafíos en el contexto actual de turbulencias financieras y caída del precio de las materias primas, así como con unas enseñanzas para economías primario-exportadores que puedan impulsar el uso de este instrumento económico. Les Fonds Souverains (FS) sont des investisseurs institutionnels émanant d’un État qui ont connu une croissance substantielle au cours des dernières années. Dans cet article, on présente prioritairement les FS comme fonds de stabilisation, comme fonds d’épargne pour l’équité intergénérationnelle et comme instruments dans le cadre des stratégies de développement, particulièrement dans les pays dépendants des matières premières. Pour ce faire, on analyse de deux Fonds Souverains (l’Arabie Saoudite et la Norvège) et les défis qu’ils relèvent dans le contexte actuel de crise financière et de baisse des prix des matières premières. Enfin, on tire les enseignements adéquats pour que les économies essentiellement exportatrices promeuvent l’utilisation de cet instrument économique. Universidad de Cartagena 2016-09-01 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion application/pdf https://revistas.unicartagena.edu.co/index.php/panoramaeconomico/article/view/1553 10.32997/2463-0470-vol.24-num.0-2016-1553 Panorama Económico Journal; Vol. 24 (2016); 127-142 Panorama Económico; Vol. 24 (2016); 127-142 Panorama Económico; v. 24 (2016); 127-142 2463-0470 0122-8900 10.32997/2463-0470-vol.24-num.0-2016 spa https://revistas.unicartagena.edu.co/index.php/panoramaeconomico/article/view/1553/1405 /*ref*/Aissaoui A (2013). Saudi Arabia's economic diversification: progress in the context of the GCC and challenges. Economic Comment 6(8), Special edicion. https://doi.org/10.2307/j.ctt1s474vn.9 /*ref*/Alsweilem, K A (2015). A stable and efficient fiscal framework for Saudi Arabia. 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Official Norwegian Reports NOU 2015:9, Chapter 1, Oslo. /*ref*/Ramírez-Cendrero JM, Wirth E (2016): Is the norwegian model exportable to combat dutch disease? Resources Policy, 48: 85-96. https://doi.org/10.1016/j.resourpol.2016.02.010 /*ref*/Rodríguez, C. M. (2006) Dutch disease in Saudi Arabia? Master's Thesis, Lund University. /*ref*/Ryggvik H (2013). Building a skilled national offshore oil industry. The Norwegian experience. Oslo: The Confederation of Norwegian Enterprise (NHO). /*ref*/Santiso J (2008). Sovereign development funds. París: OECD Policy Insight. /*ref*/Setser, B. and Ziemba, R. (2009) GCC sovereign funds. Nueva York: Center for geoeconomic studies, WP 1/2009, Council on Foreign Relations. /*ref*/Telegraph (2015). Oil price rout Will Bring end to era of Saudi Arabian Largesse, Warns Bank of America. 29/12/2015. /*ref*/Thøgersen. Ø. (1994) Economic policy, macroeconomic performance and the norwegian petroleum wealth. A Survey. Bergen: NHH Discussion Paper 21/1994, NHH Norwegian School of Economics. /*ref*/The Economist (2016b). The Saudi Blueprint. 9/01/2016. Derechos de autor 2016 Panorama Económico https://creativecommons.org/licenses/by-nc-sa/4.0 |
| spellingShingle | Ramírez Cendrero, Juan Manuel Wirth, Eszter Sovereign wealth fund as an instrument for primary commodity-producing countries. |
| title | Sovereign wealth fund as an instrument for primary commodity-producing countries. |
| title_full | Sovereign wealth fund as an instrument for primary commodity-producing countries. |
| title_fullStr | Sovereign wealth fund as an instrument for primary commodity-producing countries. |
| title_full_unstemmed | Sovereign wealth fund as an instrument for primary commodity-producing countries. |
| title_short | Sovereign wealth fund as an instrument for primary commodity-producing countries. |
| title_sort | sovereign wealth fund as an instrument for primary commodity-producing countries. |
| url | https://revistas.unicartagena.edu.co/index.php/panoramaeconomico/article/view/1553 |