For the first time, Shemirani provides a systematic methodology for the study of Sovereign Wealth Funds (SWFs) over their life span and emphasizes the need for a paradigm shift in our approach towards the study of state capitalism. Applied in this book to the world's four largest SWFs - Government Pension Fund-Global of Norway, Abu Dhabi Investment Authority of the United Arab Emirates, Temasek of Singapore, and the National Wealth Fund of the Russian Federation, this methodology can also be applied to other funds or form a basis for further analytical studies of SWFs. In addition to its first hand approach, the book addresses concerns about the lack of transparency by offering insights into the functioning and investment strategies of the selected SWFs. Academics and students in international political economy, international finance and international business as well as financiers, business leaders, and policy makers, will find the subject and the approach of this book highly useful.
Manda Shemirani, Old Dominion University, USA
'In a period of geopolitical transition and economic volatility, this balanced study of Sovereign Wealth Funds is a must read for scholars and practitioners alike. An economist trained as a political scientist, and a political scientist trained as an economist, Dr. Shemirani combines the needed tools for a lucid assessment of the many political and economic issues raised by these Funds.' Simon Serfaty, CSIS, Washington, DC and Old Dominion University, USA Big government and state capitalism, if not back in fashion, is certainly back in business. Never has there been a better time to examine the rise of Sovereign Wealth Funds. Ms Shemirani dismisses some of the popular misconceptions about SWFs and provides a scholarly analysis that will be of great value to students of international political economyand the investor who takes the long view. Kent Matthews, Cardiff Business School, UK