Ulusal Varlık Fonlarını Anlamak: Fırsat Mı, Tehdit Mi?

Year 2017, , 69 - 86, 31.10.2017

Ahmet Burçin Yereli , İlker Yaman

https://doi.org/10.17233/sosyoekonomi.336430

Cited By: 2

Abstract

Son yılların en popüler finansal araçlarından biri haline gelen ve uluslararası finansal piyasalarda hem kurumsal yenilik hem de finansal güç olarak kabul gören Ulusal Varlık Fonları toplamda 7.445 trilyon dolar değerindeki varlıkları ile ulusal ekonomilerin yapısını şekillendirebilecek bir düzeye gelmiştir. Ulusal varlık fonlarının günümüzde dikkate değer bir hacime ulaşmış olması hem yatırım yapan ülkenin hem de yatırım alan ülkenin makroekonomik ve mikroekonomik boyutta ekonomik koşullarını etkileyebilmesini mümkün kılmaktadır. Ulusal ekonomileri etkileyebilecek bir büyüklüğe sahip olan ulusal varlık fonlarının en çok göze çarpan ve tartışmalı özelliği olan devlet mülkiyetinde olması, bu tür fonları eleştirilerin hedefine koymaktadır. Ancak, ulusal varlık fonlarının sadece ekonomik amaçlarla hareket ettiğini belirten görüşler de mevcuttur. Bu çalışmada uluslararası kurumsal yatırımcılar olarak incelenen ulusal varlık fonlarının gelişiminin arkasında yatan itici ekonomik güçlerin, finansman kaynaklarının ve bu tür fonların amaçlarının neler olduğu araştırılmaktadır. Ayrıca bu çalışmada ulusal varlık fonlarının ekonomiler için faydalı bir araç olup olmadığı ve bu fonlar lehine ve aleyhine yöneltilen fikirler tartışılmaktadır.

Keywords

Ulusal Varlık Fonları, Kurumsal Yatırımcılar, Finansal Piyasalar, Kamu Varlıkları, Ekonomik Rol

Understanding Sovereign Wealth Funds: Opportunity or Threat?

Abstract

Sovereign Wealth Funds, which have become one of the most popular financial instrument of recent years and were accepted as both institutional innovation and financial power in international financial markets, have reached a level that can shape the structure of national economies with total assets of 7.445 trillion dollars. The fact that national asset funds have reached a considerable volume today makes it possible for both the host country and the home country to influence the economic conditions at the macroeconomic and microeconomic dimension.The fact that sovereign wealth funds, which have a size that can affect national economies, are in the state property, which is the most striking and controversial feature, places such funds in the target of criticism. However, there are also opinions that sovereign wealth funds act only for economic purposes. This study investigates the driving forces behind the development of sovereign wealth funds, which are examined as international institutional investors, as well as the funding sources and the purposes of such funds. In addition, this study discusses whether national asset funds are a useful tool for economies, and the ideas that are directed at and favored against these funds.

Keywords

Sovereign Wealth Funds, Institutional Investors, Financial Markets, Public Assets, Economic Role

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