In this paper, we discuss the sovereign wealth fund (SWF) phenomenon from a government ownership point of view. We emphasize on the contrast between the soft budget constraint view and the political view, and attempt to bridge the gap in the SWF literature in this regard. We also present the current regulatory challenges and contribute to the on-going debate related to SWFs’ investment motives. We conclude by shedding some light on future research avenues.
|Journal||Finance Research Letters|
|Publication status||Published - May 2020|
- Government ownership
- Sovereign Wealth Funds