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Full-Text Articles in Law
The Regulation Of Sovereign Wealth Funds: The Virtues Of Going Slow, Amanda Rose, Richard A. Epstein
The Regulation Of Sovereign Wealth Funds: The Virtues Of Going Slow, Amanda Rose, Richard A. Epstein
Vanderbilt Law School Faculty Publications
Any symposium on private-equity firms and the going private phenomenon would be incomplete without discussion of Sovereign Wealth Funds (SWFs). These government owned investment vehicles have and will continue to play an important role in the going private phenomenon. SWFs have not only helped fuel that phenomenon through their participation as limited partners in private-equity funds and hedge funds, but their massive capital infusions into ailing financial institutions and private-equity firms in the wake of the subprime mortgage crisis may, in a very real sense, save it. It is not hyperbolic to suggest that the future of private equity - …
Banking Reform In The Chinese Mirror, Katharina Pistor
Banking Reform In The Chinese Mirror, Katharina Pistor
Faculty Scholarship
This paper analyzes the transactions that led to the partial privatization of China’s three largest banks in 2005-06. It suggests that these transactions were structured to allow for inter-organizational learning under conditions of uncertainty. For the involved foreign investors, participation in large financial intermediaries of central importance to the Chinese economy gave them the opportunity to learn about financial governance in China. For the Chinese banks partnering with more than one foreign investor, their participation allowed them to benefit from the input by different players in the global financial market place and to learn from the range of technical and …
Taxation And The Competitiveness Of Sovereign Wealth Funds: Do Taxes Encourage Sovereign Wealth Funds To Invest In The United States?, Michael S. Knoll
Taxation And The Competitiveness Of Sovereign Wealth Funds: Do Taxes Encourage Sovereign Wealth Funds To Invest In The United States?, Michael S. Knoll
All Faculty Scholarship
Sovereign wealth funds (SWFs) control vast amounts of capital and have made and are continuing to make numerous large, high-profile investments in the United States, especially in the financial services industry. Those investments in particular and SWFs in general are highly controversial. There is much discussion of the advantages and disadvantages to the United States of investments by SWFs and there is an intense and ongoing debate over what should be the United States’ policy towards investments by SWFs. In the course of that debate, some critics have called upon the US government to abandon its long-held public position of …
The Impact Of Sovereign Wealth Funds On The Regulation Of Foreign Direct Investment In Strategic Industries: A Comparative View, Maya Steinitz, Michael Ingrassia
The Impact Of Sovereign Wealth Funds On The Regulation Of Foreign Direct Investment In Strategic Industries: A Comparative View, Maya Steinitz, Michael Ingrassia
Faculty Scholarship
Investments by sovereign wealth funds ('SWFs') - pools of capital accumulated by and under the control of sovereign states, mostly from the Persian Gulf and East Asia - in European and North American companies have changed dramatically both in scope and in nature in the last few years. In terms of scope, SWFs are estimated to currently control USD$2-3 trillion in assets - more than all hedge funds and private equity funds combined - and within the next five years, they are expected to direct USD$6-10 trillion in assets.' In terms of the nature of the investments made, these funds …
The Human Rights Potential Of Sovereign Wealth Funds, Christiana Ochoa, Patrick Keenan
The Human Rights Potential Of Sovereign Wealth Funds, Christiana Ochoa, Patrick Keenan
Articles by Maurer Faculty
In April, 2008, World Bank president, Robert Zoellick, called for sovereign wealth funds to invest one percent of their capital in Africa. The result will be the International Finance Corporation's Sovereign Funds Initiative and is an attempt to nurture the potential of sovereign wealth funds to contribute to economic development and improved well-being in a number of countries in Africa and elsewhere. This article explores the actual potential of the Sovereign Funds Initiative to realize its desired goals. After exploring and demonstrating the disappointing effects of natural resource wealth, development aid and foreign direct investment on some developing countries, the …