Abstract

http://ssrn.com/abstract=1307182
 
 

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Sovereign Wealth Funds: Active or Passive Investors?


Paul Rose


Ohio State University - Moritz College of Law

November 24, 2008

Yale Law Journal Pocket Part, Vol. 118, p. 104, 2008

Abstract:     
Sovereign wealth funds (SWFs)-capital pools created by governments to invest surplus funds in private markets-are increasingly important global financial actors. Many fear that the economic power of SWFs, which is measured in trillions of dollars, will be used strategically and politically. Are fears that SWFs will be used as political tools justified? If political use of SWFs depends on their control of U.S. firms, the answer is almost certainly "no." There is no significant evidence that SWFs have or will use control of U.S. firms to implement governmental policy. Indeed, American political and regulatory constraints will pressure SWFs not only to avoid control, but also to avoid exercising significant influence over U.S. companies in their portfolios. Instead, the present cycle of SWF investment is likely to be characterized by passivity.

Number of Pages in PDF File: 5

Keywords: sovereign wealth

JEL Classification: G34, G38, K20, K22

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Date posted: November 26, 2008 ; Last revised: June 4, 2010

Suggested Citation

Rose, Paul, Sovereign Wealth Funds: Active or Passive Investors? (November 24, 2008). Yale Law Journal Pocket Part, Vol. 118, p. 104, 2008. Available at SSRN: http://ssrn.com/abstract=1307182

Contact Information

Paul Rose (Contact Author)
Ohio State University - Moritz College of Law ( email )
55 West 12th Avenue
Columbus, OH 43210
United States
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