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

IMF Working Papers, August 1, 2009

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

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Bibliographic details

• Authors: Christian B. Mulder, Amadou N Sy, Miss Yinqiu Lu, Udaibir S Das
• Published: August 1, 2009
• Series: IMF Working Papers
• DOI: https://doi.org/10.5089/9781451873269.001

Summary

• This paper offers a policy and operational "roadmap" to policymakers considering setting up an SWF.
• It is also targeted at policymakers in countries with existing SWFs to review existing policies and operations.
• The paper identifies areas where research in macroeconomics and finance should further assess the adequacy of existing practice related to setting up and managing SWFs.
• Policymakers should optimally consider both their sovereign assets and liabilities together with their macroeconomic objectives when setting up an SWF.

Authors and Publication

• By Christian B. Mulder, Amadou N Sy, Miss Yinqiu Lu, Udaibir S Das
• Publication date: August 1, 2009
• Series: Working Paper No. 2009/179
• Issue: 179
• Volume: 2009
• Pages: 21
• DOI: https://doi.org/10.5089/9781451873269.001
• Stock No: WPIEA2009179
• ISBN: 9781451873269
• ISSN: 1018-5941

Core Policy and Operational Considerations (as described)

• Provide a "roadmap" framework for establishing an SWF addressing both policy and operational dimensions.
• Use the framework to review and potentially reform existing SWF policies and operations.
• Integrate sovereign assets and liabilities into the planning process for an SWF.
• Align SWF design with macroeconomic objectives.

Research Gaps and Further Work

• The paper highlights the need for additional research in macroeconomics and finance to evaluate whether existing practices for setting up and managing SWFs are adequate.
• Practical considerations in SWF design and management often outpace theoretical research; addressing these gaps is a priority.

IMF Working Papers — "Setting Up a Sovereign Wealth Fund: Some Policy and Operational Considerations" (Working Paper No. 2009/179)

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