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Title Managing Arab sovereign wealth in turbulent times, and beyond / Sven Behrendt and Bassma Kodmani, editors
Published Washington, DC : Carnegie Endowment for International Peace, 2009
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Description 49 : digital, PDF file
Series Carnegie papers ; no. 16
Working papers (Carnegie Endowment for International Peace) ; no. 16
Contents An update on Arab sovereign wealth funds / Sven Behrendt -- Whose sovereignty? Whose wealth? / Rami G. Khouri -- Arab wealth : financial versus real assets / Hazem El-Beblawi -- Sovereign wealth funds and the politics of boom and bust / Ibrahim A. Warde -- The global financial crisis and the Arab sovereign wealth funds : implications and limitations / Atif Kubursi -- Arab investments : an instrument to diversify national economies? / Ghazi Hidouci -- Sovereign wealth funds : an instrument marked by its birth conditions? / Samir Aita -- Conclusions : putting Arab money on the reform agenda / Bassma Kodmani
Summary The debate about the role that sovereign wealth funds (SWFs) from Arab and other emerging economies play in international financial markets has been a highly cyclical one. Only twelve months ago, the Western public questioned the deeper rationales for sovereign investments in what were perceived to be strategic assets of Western economies. Commentators argued that these investments could harm the long-term competitiveness and national security of Western economies. Today, the Arab world realizes that much of its sovereign wealth is exposed to the financial market crisis and that, as a result, the value of those assets in which SWFs invested have decreased substantially. This, in turn, has caused an intense discussion about the rationale for building the Arab financial nest egg on shaky foundations such as equity stakes in Western corporations. In consequence, the custodians of Arab sovereign wealth have found themselves in a precarious situation, having to respond, first, to an external audience when it appeared that their influence in the world of finance had substantially increased; and, later, to a domestic audience when it appeared that they might have overplayed their hands. However, beyond these short-term challenges for Arab and other SWF managers and owners, the recent debates about SWFs have focused on what was to be done with Arab surplus capital in order to secure a viable future for Arab economies in a world of profound economic turbulence and at a time when the relationship between the state and the market is being fundamentally rethought
Notes "April 2009."
Title from PDF title page (viewed on March 5, 2010)
Bibliography Includes bibliographical references
Notes Mode of access: Internet from Carnegie Endowment for International Peace web site. Adobe Acrobat Reader required
Subject Sovereign wealth funds -- Arab countries
Sovereign wealth funds -- Developing countries
Sovereign wealth funds.
Arab countries.
Developing countries.
Form Electronic book
Author Behrendt, Sven
Kodmani-Darwish, Bassma
Arab Reform Initiative
Carnegie Endowment for International Peace. Carnegie Middle East Center