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Year 2019, Volume: 3 Issue: 1, 115 - 133, 31.01.2019
https://doi.org/10.25295/fsecon.2019.01.004

Abstract

References

  • Balin, J. Bryan, 2008, “Sovereign Wealth Funds: A Critical Analysis” (September 23, 2009), https://ssrn.com/abstract=1477725
  • Eğilmez, Mahfi, 2016, “Varlık Fonu”, http://www.mahfiegilmez.com/2016/08/varlk-fonu.html
  • Hassan, Adnan, 2009, A practical guide to sovereign wealth funds : power shifts from West to east - 'it is Dubai, Mumbai, Shanghai-- or goodbye!'. London: Euromoney Books.
  • IWG–International Working Group, 2008, Sovereign Wealth Funds: Generally Accepted Principles and Practices–Santiago Principles. Santiago: IWG.
  • Francis, R. David, 2007, “Will Sovereign Wealth Funds Rule the World?,” The Christian Science Monitor, November 26, 2007.
  • Kesicki, F. (2010) “The third oil price surge – What’s different this time?”, Energy Policy, 38: (3).
  • Konukman, Aziz ve Orhan Şimşek, “Ulusal Varlık Fonları ve Türkiye Uygulaması”, Çalışma ve Toplum, 2017/4.
  • Lyons, Gerard, 2007, “State Capitalism: The Rise of Sovereign Wealth Funds”, Standard Chartered Bank, Global Research,
  • Marx, Karl, 1856, French Crédit Mobilier, New York Tribune, 24 Haziran 1856, http://marxengels.public-archive.net/en/ME0978en.html
  • Rozanov, Andrew, 2008, “A Liability-based Approach to Sovereign Wealth” Central Banking, 18(3): 15–20.
  • Rozanov, Andrew, 2005, “Who Holds the VVealth of Nations?” Central Banking Journal 15, no. 4): 52-57.
  • Rozanov, Andrew, 2010, “Definitional Challenges of Dealing with Sovereign Wealth Funds”, Asian Journal of International Law, FirstView: 1-17
  • Sovereign Wealth Funds, 2017, Sovereign Wealth Funds Quarterly Newsletter, Ağustos.
  • SWF Rankings, https://www.swfinstitute.org/sovereign-wealth-fund-rankings/
  • TBMM, 2016, Türkiye Varlık Fonu Gerekçesi, https://www.tbmm.gov.tr/sirasayi/donem26/yil01/ss413.pdf
  • TVF (Türkiye Varlık Fonu), 2016, Türkiye Varlık Fonu Yönetimi Anonim Şirketinin Kurulması İle Bazı Kanunlarda Değişiklik Yapılmasına Dair Kanun, http://turkiyevarlikfonu.com.tr/content/files/6741%20son.pdf
  • Kern, Steffen, 2007, “Sovereign Wealth Funds-State Investments on the Rise.” Deutsche Bank Research.
  • Xu, Yi-chong, 2009, “Who’s Afraid of Sovereign Wealth Funds?”, Australian Journal of International Affairs, 63(1).
  • Xu, Yi-chong, 2010, “The Political Economy of Sovereign Wealth Funds”, Xu, Yi-chong and Gawdat Bahgat (edit), 2010, The Political Economy of Sovereign Wealth Funds, Palgrave Maccmillan, New York.

Sovereign Wealth Funds: Continuation and Proliferation of a State of Exception

Year 2019, Volume: 3 Issue: 1, 115 - 133, 31.01.2019
https://doi.org/10.25295/fsecon.2019.01.004

Abstract

One of the most controversial financial tool that has been come into the agenda in recent years is the Sovereign Wealth Funds (SWF) reached globally USD 7 trillion 450 billion and it reached USD 40 billion in our country. The SWFs which are formed on account of certain macroeconomic and microeconomic causes, are at the position to affect either domestic or international economics. These funds are generally formed through budget surpluses or the revenue to be gained from natural sources such as oil. The most important discussion and critics on the SWFs is the formation of these funds with public resources. Especially, the countries having not export surplus or natural resource revenue recently started to form these funds.

In this paper, we will have a look on economic and political developments of the SWF since 1816 when the Crédit Mobilier was formed until today. Additionally, the aims of formation, functions, resources and audit of the SWFs will be considered. Finally, the properties of the sovereign wealth fund to be formed in Turkey will be examined to figure out the advantageous and disadvantageous it may cause for the economics.

References

  • Balin, J. Bryan, 2008, “Sovereign Wealth Funds: A Critical Analysis” (September 23, 2009), https://ssrn.com/abstract=1477725
  • Eğilmez, Mahfi, 2016, “Varlık Fonu”, http://www.mahfiegilmez.com/2016/08/varlk-fonu.html
  • Hassan, Adnan, 2009, A practical guide to sovereign wealth funds : power shifts from West to east - 'it is Dubai, Mumbai, Shanghai-- or goodbye!'. London: Euromoney Books.
  • IWG–International Working Group, 2008, Sovereign Wealth Funds: Generally Accepted Principles and Practices–Santiago Principles. Santiago: IWG.
  • Francis, R. David, 2007, “Will Sovereign Wealth Funds Rule the World?,” The Christian Science Monitor, November 26, 2007.
  • Kesicki, F. (2010) “The third oil price surge – What’s different this time?”, Energy Policy, 38: (3).
  • Konukman, Aziz ve Orhan Şimşek, “Ulusal Varlık Fonları ve Türkiye Uygulaması”, Çalışma ve Toplum, 2017/4.
  • Lyons, Gerard, 2007, “State Capitalism: The Rise of Sovereign Wealth Funds”, Standard Chartered Bank, Global Research,
  • Marx, Karl, 1856, French Crédit Mobilier, New York Tribune, 24 Haziran 1856, http://marxengels.public-archive.net/en/ME0978en.html
  • Rozanov, Andrew, 2008, “A Liability-based Approach to Sovereign Wealth” Central Banking, 18(3): 15–20.
  • Rozanov, Andrew, 2005, “Who Holds the VVealth of Nations?” Central Banking Journal 15, no. 4): 52-57.
  • Rozanov, Andrew, 2010, “Definitional Challenges of Dealing with Sovereign Wealth Funds”, Asian Journal of International Law, FirstView: 1-17
  • Sovereign Wealth Funds, 2017, Sovereign Wealth Funds Quarterly Newsletter, Ağustos.
  • SWF Rankings, https://www.swfinstitute.org/sovereign-wealth-fund-rankings/
  • TBMM, 2016, Türkiye Varlık Fonu Gerekçesi, https://www.tbmm.gov.tr/sirasayi/donem26/yil01/ss413.pdf
  • TVF (Türkiye Varlık Fonu), 2016, Türkiye Varlık Fonu Yönetimi Anonim Şirketinin Kurulması İle Bazı Kanunlarda Değişiklik Yapılmasına Dair Kanun, http://turkiyevarlikfonu.com.tr/content/files/6741%20son.pdf
  • Kern, Steffen, 2007, “Sovereign Wealth Funds-State Investments on the Rise.” Deutsche Bank Research.
  • Xu, Yi-chong, 2009, “Who’s Afraid of Sovereign Wealth Funds?”, Australian Journal of International Affairs, 63(1).
  • Xu, Yi-chong, 2010, “The Political Economy of Sovereign Wealth Funds”, Xu, Yi-chong and Gawdat Bahgat (edit), 2010, The Political Economy of Sovereign Wealth Funds, Palgrave Maccmillan, New York.
There are 19 citations in total.

Details

Primary Language English
Journal Section Articles
Authors

Yavuz Yayla 0000-0002-8720-801X

Publication Date January 31, 2019
Published in Issue Year 2019 Volume: 3 Issue: 1

Cite

APA Yayla, Y. (2019). Sovereign Wealth Funds: Continuation and Proliferation of a State of Exception. Fiscaoeconomia, 3(1), 115-133. https://doi.org/10.25295/fsecon.2019.01.004

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