As the largest sovereign wealth fund (SWF) in world, Norwegian SWF’s efforts to move a more sustainable direction are often followed by other institutional investors. This chapter examines how SWF (officially, Government Pension Fund – Global, or GPFG) has evolved into responsible investor, balancing ethics, environment, social, and governance (ESG) risks with returns. The focus is mainly on it...

The central argument of this study is that given the magnitude of the investment in infrastructure that is required, especially in Africa, the role of foreign aid in the future should be distinctly different. While aid will be required to continue to fill the ‘savings gap’ in some small countries and land-locked countries, in most other countries aid can play a very different role in facilitati...

We present a dynamic stochastic general equilibrium (DSGE) model in which resource-rich government allocates its excess resource rents between stabilization fund and the facilitation of costly domestic fund-raising activities sovereign wealth funds (SWF), holds portfolio government-linked companies (GLCs). Despite being less productive efficient, GLCs' operation benefits from scale economies ti...

Saudi Arabia's Public Investment Fund (PIF) has grown from marginal player to the most important economic actor in Kingdom since 2015. Nevertheless, we know surprisingly little about political economy of PIF revamp. Against an unfavorable macroeconomic backdrop, I argue that shifts organization and orientation are fundamentally driven by centralization power within circles ruling family rise Mo...

In April 2010 the International Finance Corporation announced the creation of the African, Latin American, and Caribbean fund, a new co-investment vehicle funded largely with commitments from sovereign wealth and pension funds. The fund’s objective was to draw on the IFC and the World Bank’s strengths in emerging markets to identify and support enterprises that might not otherwise have come to ...

A synthetic control method in a comparative case study evaluates the potential effect of sovereign wealth fund on economic growth country. Trinidad and Tobago (T&T) is focus study. This first empirical research literature that attempts to evaluate impact an emerging economy. The results provide evidence contributed higher real per capita GDP T&T by estimate $5104.57 (2010 US$) year. cumulative ...