American Sovereign Wealth

Paul Rose

Ohio State University - Moritz College of Law

November 16, 2011

Ohio State Public Law Working Paper No. 161

The rise of sovereign wealth funds signals a shift in the balance of economic and financial power in the world, with fast-rising powers creating sovereign wealth funds to invest billions in relatively new-found wealth. Discussions and analyses of sovereign wealth thus tend to focus on international relations and politics. But those who study the history of sovereign wealth funds recognize that many SWFs have existed for decades, and that some of these older SWFs are owned by U.S. states, thus also implicating federal relations and domestic politics. A great deal of research has focused on the international aspects of new, foreign sovereign wealth; this article instead examines older (but much less studied) domestic sovereign wealth funds, with a focus on their origins, purpose, and governance, as well as the role they play within a federalist system of government.

Number of Pages in PDF File: 67

Keywords: sovereign wealth funds, permanent funds, fund governance, severance tax

JEL Classification: K20, K22, K29, K34

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Date posted: November 17, 2011  

Suggested Citation

Rose, Paul, American Sovereign Wealth (November 16, 2011). Ohio State Public Law Working Paper No. 161. Available at SSRN: http://ssrn.com/abstract=1960706 or http://dx.doi.org/10.2139/ssrn.1960706

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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