Sovereign Wealth Funds: Legitimacy, Governance, and Global Power

Hardcover (Print)
Buy New
Buy New from
Used and New from Other Sellers
Used and New from Other Sellers
from $25.98
Usually ships in 1-2 business days
(Save 34%)
Other sellers (Hardcover)
  • All (11) from $25.98   
  • New (9) from $31.23   
  • Used (2) from $25.98   


"In the last several decades, sovereign wealth funds have come to play a major role in international financial arrangements. Sovereign Wealth Funds lays out a masterful analysis of this subject. The book discusses three vital dimensions of these funds: their history and geography, their varying governance structures, and their deployment as strategic national resources. A clear grasp of these dimensions is essential for dealing with the rapidly shifting relations between finance, globalization, and the nation-state. This book is an outstanding scholarly contribution to understanding the emerging world of the twenty-first century."—Allen J. Scott, University of California, Los Angeles

"In this pathbreaking study, three leading financial geographers elucidate the origins, activities, and implications of state-owned investment funds. Today's policymakers as well as scholars across a range of disciplines confront the challenge of understanding the dynamic relationship between governments and globalizing capital markets. This highly original book examines a vital and increasingly important aspect of that relationship. Future policy debates and analytical explorations must begin here."—Louis W. Pauly, University of Toronto

"State-owned investment funds are growing in size, influence, and power. We need to understand them, yet they are diverse. Clark, Dixon, and Monk tell us what attributes these institutions share and how they differ. I particularly like their series of detailed case studies of major sovereign funds. This book is illuminating and I highly recommend it to readers."—Elroy Dimson, London Business School and chairman of the Strategy Council for the Norwegian Government Pension Fund—Global

"This original book sheds light on the forms and functions of sovereign wealth funds, and maps at the same time the global influence of these institutions. Providing an original classification of these funds, the authors offer a series of in-depth case studies that combine broad perspectives on the world economy with specific national examples."—Valeria Miceli, Universit Cattolica, Milan

Read More Show Less

Editorial Reviews

From the Publisher
"[T]he book represents a genuinely excellent introduction to SWFs with respect to questions of legitimacy, governance and rationale. It is also extremely clearly organized and written; it is, in fact, a model of clean, precise and unadorned prose. Although the vast bulk of the book has previously been published elsewhere, in very similar form, in the shape of eight journal articles, it pulls together those existing materials in an impressively coherent, persuasive and ultimately very useful way."—Brett Christophers, Journal of Economic Geography
Read More Show Less

Product Details

  • ISBN-13: 9780691142296
  • Publisher: Princeton University Press
  • Publication date: 7/21/2013
  • Pages: 236
  • Sales rank: 1,419,829
  • Product dimensions: 6.40 (w) x 9.30 (h) x 0.80 (d)

Meet the Author

Gordon L. Clark is professor and executive director of the Smith School of Enterprise and the Environment at the University of Oxford, and the Sir Louis Matheson Distinguished Visiting Professor at Monash University. Adam D. Dixon is lecturer and university research fellow at the University of Bristol and visiting research associate at the University of Oxford. Ashby H. B. Monk is a research director at Stanford University and senior research associate at the University of Oxford.

Read More Show Less

Table of Contents

List of Figures and Tables ix
Preface xi
Acknowledgments xix
1 Introduction 1
2 The Rise of Sovereign Wealth Funds 13
3 Rethinking the "Sovereign" in Sovereign Wealth Funds 30
4 The Virtues of Long-Term Commitment: Australia's Future Fund 46
5 The Ethics of Global Investment: Norway's Government Pension Fund 67
6 Insurer of Last Resort: Singapore's Government Investment Corporation 86
7 Legitimacy, Trade, and Global Imbalances: The China Investment Corporation 105
8 Modernity, Imitation, and Performance: The Gulf States' Funds 121
9 Conclusion: Form and Function in the Twenty-First Century 137
Appendix: Scoping Best Practice 155
Notes 163
References 173
Index 195

Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star


4 Star


3 Star


2 Star


1 Star


Your Rating:

Your Name: Create a Pen Name or

Barnes & Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation


  • - By submitting a review, you grant to Barnes & and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Terms of Use.
  • - Barnes & reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)