Christopher Balding
- Published in print:
- 2012
- Published Online:
- May 2012
- ISBN:
- 9780199842902
- eISBN:
- 9780199932498
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199842902.003.0003
- Subject:
- Economics and Finance, Financial Economics
Though a good problem to have, sovereign wealth funds struggle with how to manage the amount of money entrusted to them. Sovereign wealth funds have competing financial, economic, political, and ...
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Though a good problem to have, sovereign wealth funds struggle with how to manage the amount of money entrusted to them. Sovereign wealth funds have competing financial, economic, political, and business mandates. From maximizing risk adjusted returns to promoting economic development and diversification to creating national champions or stable earnings for future generations, sovereign wealth funds face a difficult task in managing the competing expectations. This chapter will focus on the investment challenges and objectives of managing such large amounts of money. Though there is little evidence that sovereign wealth funds are using their investment capital to leverage political foreign policy victories, their success as investors is mixed. Rather than confusing their public policy and investment mandates, sovereign wealth may open up additional opportunities for partner firms through their privileged position though firm performance remains mixed. Sovereign wealth funds appear willing to accept different levels of risk through their asset allocation. Whether holding large amounts of cash or short term fixed income securities or a riskier portfolio of equities and alternative investments, countries reveal divergent risk levels in their portfolios. Though a good problem to have, countries are taking a different approach to managing the new found wealth.Less
Though a good problem to have, sovereign wealth funds struggle with how to manage the amount of money entrusted to them. Sovereign wealth funds have competing financial, economic, political, and business mandates. From maximizing risk adjusted returns to promoting economic development and diversification to creating national champions or stable earnings for future generations, sovereign wealth funds face a difficult task in managing the competing expectations. This chapter will focus on the investment challenges and objectives of managing such large amounts of money. Though there is little evidence that sovereign wealth funds are using their investment capital to leverage political foreign policy victories, their success as investors is mixed. Rather than confusing their public policy and investment mandates, sovereign wealth may open up additional opportunities for partner firms through their privileged position though firm performance remains mixed. Sovereign wealth funds appear willing to accept different levels of risk through their asset allocation. Whether holding large amounts of cash or short term fixed income securities or a riskier portfolio of equities and alternative investments, countries reveal divergent risk levels in their portfolios. Though a good problem to have, countries are taking a different approach to managing the new found wealth.
Patrick DeSouza and W. Michael Reisman
- Published in print:
- 2012
- Published Online:
- April 2015
- ISBN:
- 9780199937929
- eISBN:
- 9780190260163
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:osobl/9780199937929.003.0010
- Subject:
- Law, Public International Law
This chapter examines the national security implications of sovereign wealth funds (SWFs). More specifically, it considers the evolving balancing act between the prudent sovereign management of ...
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This chapter examines the national security implications of sovereign wealth funds (SWFs). More specifically, it considers the evolving balancing act between the prudent sovereign management of global wealth by the holders and a rush to deploy a Western national security filter by the debtors over the recycling of foreign wealth amid fear among domestic publics about the increased political influence exerted by wealth buys in the “new normal.” It argues that such populist fear may justify not only the intensification of governmental regulation in the United States over foreign wealth but also the acceptance of state-led capitalism. It also discusses the broad strategic implications of the recycling of national wealth for international relations which will reshape the long-run balance of power.Less
This chapter examines the national security implications of sovereign wealth funds (SWFs). More specifically, it considers the evolving balancing act between the prudent sovereign management of global wealth by the holders and a rush to deploy a Western national security filter by the debtors over the recycling of foreign wealth amid fear among domestic publics about the increased political influence exerted by wealth buys in the “new normal.” It argues that such populist fear may justify not only the intensification of governmental regulation in the United States over foreign wealth but also the acceptance of state-led capitalism. It also discusses the broad strategic implications of the recycling of national wealth for international relations which will reshape the long-run balance of power.
Thomas M. Truxes
- Published in print:
- 2021
- Published Online:
- May 2022
- ISBN:
- 9780300159882
- eISBN:
- 9780300161304
- Item type:
- book
- Publisher:
- Yale University Press
- DOI:
- 10.12987/yale/9780300159882.001.0001
- Subject:
- History, American History: early to 18th Century
The Overseas Trade of British America: A Narrative History is a comprehensive account of the emergence of the United States from the perspective of trade. The author traces the roots of the American ...
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The Overseas Trade of British America: A Narrative History is a comprehensive account of the emergence of the United States from the perspective of trade. The author traces the roots of the American commercial economy from mid-sixteenth-century Tudor England through the early years of the American republic at the dawn of the nineteenth century. The trade of colonial America is notable for the access it offered a wide range of participants. Open access (real or illusory) remains a dominant theme of the American economy to the present day. Colonial trade is notable as well for its readiness to exploit opportunity wherever it lay, and many of those opportunities lay across international borders in violation of the British Navigation Acts. The most significant feature of colonial trade is its intimate links to chattel slavery and the Atlantic slave trade. Virtually every aspect of colonial commerce bore some connection—direct or indirect. Most obvious is the slave trade itself, which carried roughly 3.5 million African captives to British America between 1619 and 1807. It was enslaved Africans who produced colonial America’s leading exports — tobacco, sugar, and rice. And enslaved Africans were a conspicuous presence on the docks and in the warehouses of northern colonial ports. This book is an account of opportunity-seeking, risk-taking producers, merchants, and mariners converting the potential of the New World into individual livelihoods and national wealth. The history of colonial trade is part of something much larger: the creation of the modern global economy.Less
The Overseas Trade of British America: A Narrative History is a comprehensive account of the emergence of the United States from the perspective of trade. The author traces the roots of the American commercial economy from mid-sixteenth-century Tudor England through the early years of the American republic at the dawn of the nineteenth century. The trade of colonial America is notable for the access it offered a wide range of participants. Open access (real or illusory) remains a dominant theme of the American economy to the present day. Colonial trade is notable as well for its readiness to exploit opportunity wherever it lay, and many of those opportunities lay across international borders in violation of the British Navigation Acts. The most significant feature of colonial trade is its intimate links to chattel slavery and the Atlantic slave trade. Virtually every aspect of colonial commerce bore some connection—direct or indirect. Most obvious is the slave trade itself, which carried roughly 3.5 million African captives to British America between 1619 and 1807. It was enslaved Africans who produced colonial America’s leading exports — tobacco, sugar, and rice. And enslaved Africans were a conspicuous presence on the docks and in the warehouses of northern colonial ports. This book is an account of opportunity-seeking, risk-taking producers, merchants, and mariners converting the potential of the New World into individual livelihoods and national wealth. The history of colonial trade is part of something much larger: the creation of the modern global economy.
- Published in print:
- 2010
- Published Online:
- June 2013
- ISBN:
- 9780804758819
- eISBN:
- 9780804773706
- Item type:
- chapter
- Publisher:
- Stanford University Press
- DOI:
- 10.11126/stanford/9780804758819.003.0004
- Subject:
- Political Science, International Relations and Politics
This chapter examines the effect of militarized conflict on the populations of states by evaluating the relationship between war and public health. It investigates how levels of public health decline ...
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This chapter examines the effect of militarized conflict on the populations of states by evaluating the relationship between war and public health. It investigates how levels of public health decline due to conflict in the short term and the long run, how national wealth affects health outputs, and how democracy is associated with population well-being. The analysis reveals that conflict can undermine health, that a number of political and economic factors are important in assessing the effect of conflict on health, and that the influence of these factors varies across countries with differing characteristics.Less
This chapter examines the effect of militarized conflict on the populations of states by evaluating the relationship between war and public health. It investigates how levels of public health decline due to conflict in the short term and the long run, how national wealth affects health outputs, and how democracy is associated with population well-being. The analysis reveals that conflict can undermine health, that a number of political and economic factors are important in assessing the effect of conflict on health, and that the influence of these factors varies across countries with differing characteristics.
David Pedersen
- Published in print:
- 2013
- Published Online:
- September 2013
- ISBN:
- 9780226653396
- eISBN:
- 9780226922775
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226922775.003.0005
- Subject:
- History, American History: 20th Century
This chapter examines the collapse of the cotton and coffee export system in El Salvador in the 1980s amidst more than a decade of civil war, the U.S. direct aid to El Salvador, and how the millions ...
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This chapter examines the collapse of the cotton and coffee export system in El Salvador in the 1980s amidst more than a decade of civil war, the U.S. direct aid to El Salvador, and how the millions of dollars in remittances sent home by Salvadorans living and working in the United States became the principal source of national wealth. The civil war in El Salvador was described by U.S. military leaders as an “uncomfortable war” that would threaten America into the future—justifying direct U.S. intervention and expenditure. The Salvadoran government used the term illegal to refer to its citizens who migrated and worked clandestinely without official documents in the United States. In the spring of 1987, President José Napoleon Duarte of El Salvador sent a confidential letter to U.S. President Ronald Reagan asking him not to deport several thousand Salvadorans who were living and working in the United States as illegal immigrants.Less
This chapter examines the collapse of the cotton and coffee export system in El Salvador in the 1980s amidst more than a decade of civil war, the U.S. direct aid to El Salvador, and how the millions of dollars in remittances sent home by Salvadorans living and working in the United States became the principal source of national wealth. The civil war in El Salvador was described by U.S. military leaders as an “uncomfortable war” that would threaten America into the future—justifying direct U.S. intervention and expenditure. The Salvadoran government used the term illegal to refer to its citizens who migrated and worked clandestinely without official documents in the United States. In the spring of 1987, President José Napoleon Duarte of El Salvador sent a confidential letter to U.S. President Ronald Reagan asking him not to deport several thousand Salvadorans who were living and working in the United States as illegal immigrants.
