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Setting up a Sovereign Wealth Fund: Some Policy and Operational Considerations

Author/Editor: Das, Udaibir S. | Mulder, Christian B. | Sy, Amadou N. R. | Lu, Y.
Authorized for Distribution: August 1, 2009
Electronic Access: Free Full Text (PDF file size is 849KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

Summary: This paper offers a policy and operational "roadmap" to policymakers considering setting up an SWF. It should also be of interest to policymakers in countries where SWFs are already in place, to review their existing policies and operations. Finally, it offers an opportunity to identify areas where research in macroeconomics and finance should give further answers as to the adequacy of existing practice related to the setting up and management of SWFs, an area where practical considerations often lead theoretical research. For instance, policymakers should optimally consider both their sovereign assets and liabilities together with their macroeconomic objectives, when setting up an SWF.
 
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Series: Working Paper No. 09/179
Subject(s): Financial assets | Fiscal management | Fiscal policy | Fiscal stability | Investment | Investment policy | Public investment | Public sector savings | Reserves | Reserves adequacy | Sovereign wealth funds | Stabilization funds
Author's keyword(s): Sovereign wealth fund | SWF's policy objective | investment policy
 
English  
    Published:   August 1, 2009        
            Format:   Paper
    Stock No:   WPIEA2009179   Pages:   21
    Price:   US$18.00 (Academic Rate: US$18.00 )
       
     
Please address any questions about this title to publications@imf.org.