Capital Choices PDF Download

Author: Juergen Braunstein
Publisher: University of Michigan Press
ISBN: 0472038869
Category : Political Science
Languages : en
Pages : 225

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Book Description
Demystifies the process of sovereign wealth fund creation and examines the policy and economic issues surrounding them, updated for a post-Covid world

Author: Justin O'brien
Publisher: World Scientific
ISBN: 1908978317
Category : Business & Economics
Languages : en
Pages : 217

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Book Description
As the first major collection of papers on sovereign wealth funds and state-owned enterprises, this book provides an essential guide to the geo-political impact of these pools of capital on global markets. The rise of sovereign wealth funds and state-owned enterprises represents a fundamental shift in market dynamics. The potential fusion of political and commercial imperatives raises unresolved geo-political questions that have been sharpened by the vaporization of credit markets as a consequence of the global financial crisis. State-controlled pools of capital have now eclipsed hedge funds and private equity in terms of funds under management, and the question of their regulation is therefore now of utmost importance.This book highlights the interplay between legal, corporate and policy imperatives associated with the regulation of state capital. Including contributions from leading practitioners, policymakers and academics, it provides an essential guide to professionals and academics in the fields of finance and business./a

Author: Mike Wright
Publisher: Oxford University Press
ISBN: 0192574302
Category : Political Science
Languages : en
Pages : 808

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Book Description
There has been a major revival of interest in State Capitalism: What it is, where it is found, and why it is seemingly becoming more ubiquitous. As a concept, it has evolved from radical critiques of the Soviet Union, to being deployed by neo-liberals to describe market reforms deemed imperfect, to settle into a middle ground, as a pragmatic way to describe the state assuming a role as an active economic agent, in addition to its regulatory, social, and security functions. The latter is the central focus of this book, although due attention is accorded to the origins of state capitalism and how it has changed over the years, as well as contemporary ways in which state capitalism may be theorized. This economic agency may assume direct forms, for example, via state owned enterprises. However, it may also be indirect, for example, actively serving private interests through promoting insider firms, who may occupy monopolistic market positions and perform outsourced state functions. In turn, this leads to raise salient governance questions. The latter may encompass agency tensions between public ownership, and political or even private interest control; it may also include issues of transparency and monitoring. Although state capitalism has often been depicted as the preserve of states in the global south, be they developmental or predatory, many forms of state capitalism are visible in mature economies, be they liberal or coordinated, and this is not always associated with superior governance arrangements; indeed, this is an area where clear and easy divisions between the "developing" or "emerging" world and the "developed" or "mature" world may increasingly be breaking down. This volume brings together the accounts of leading experts from around the world; it is explicitly multi-disciplinary, and both consolidates the exiting knowledge base, and provides new, novel, and counter-intuitive insights.

Author: Katharina Pistor
Publisher: Princeton University Press
ISBN: 0691208603
Category : Business & Economics
Languages : en
Pages : 315

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Book Description
"Capital is the defining feature of modern economies, yet most people have no idea where it actually comes from. What is it, exactly, that transforms mere wealth into an asset that automatically creates more wealth? The Code of Capital explains how capital is created behind closed doors in the offices of private attorneys, and why this little-known fact is one of the biggest reasons for the widening wealth gap between the holders of capital and everybody else. In this revealing book, Katharina Pistor argues that the law selectively "codes" certain assets, endowing them with the capacity to protect and produce private wealth. With the right legal coding, any object, claim, or idea can be turned into capital - and lawyers are the keepers of the code. Pistor describes how they pick and choose among different legal systems and legal devices for the ones that best serve their clients' needs, and how techniques that were first perfected centuries ago to code landholdings as capital are being used today to code stocks, bonds, ideas, and even expectations--assets that exist only in law. A powerful new way of thinking about one of the most pernicious problems of our time, The Code of Capital explores the different ways that debt, complex financial products, and other assets are coded to give financial advantage to their holders. This provocative book paints a troubling portrait of the pervasive global nature of the code, the people who shape it, and the governments that enforce it."--Provided by publisher.

Author: Panagiotis Delimatsis
Publisher: Bloomsbury Publishing
ISBN: 1509962980
Category : Law
Languages : en
Pages : 359

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Book Description
This book explores how State capitalism affects and reshapes international investment law. It sheds new light on the various ways States actively influence business and commercial activity globally by using sovereign investors such as state-owned enterprises and sovereign wealth funds or pension funds. With a diverse group of contributors from a broad range of countries, the book offers a fresh and timely look into the fundamentals of State capitalism, focusing in particular on its actors and processes, the contextual elements that surround it, and the new political economy that comes with it. The book is essential reading for researchers, regulators, policy makers, and practitioners interested in the different ways State capitalism challenges and changes international investment law. As geopolitical considerations increasingly affect global economic activity, delving into the intricacies of State capitalism has never been more timely.

Author: Robert J. Shiller
Publisher: Princeton University Press
ISBN: 1400825474
Category : Business & Economics
Languages : en
Pages : 385

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Book Description
In his best-selling Irrational Exuberance, Robert Shiller cautioned that society's obsession with the stock market was fueling the volatility that has since made a roller coaster of the financial system. Less noted was Shiller's admonition that our infatuation with the stock market distracts us from more durable economic prospects. These lie in the hidden potential of real assets, such as income from our livelihoods and homes. But these ''ordinary riches,'' so fundamental to our well-being, are increasingly exposed to the pervasive risks of a rapidly changing global economy. This compelling and important new book presents a fresh vision for hedging risk and securing our economic future. Shiller describes six fundamental ideas for using modern information technology and advanced financial theory to temper basic risks that have been ignored by risk management institutions--risks to the value of our jobs and our homes, to the vitality of our communities, and to the very stability of national economies. Informed by a comprehensive risk information database, this new financial order would include global markets for trading risks and exploiting myriad new financial opportunities, from inequality insurance to intergenerational social security. Just as developments in insuring risks to life, health, and catastrophe have given us a quality of life unimaginable a century ago, so Shiller's plan for securing crucial assets promises to substantially enrich our condition. Once again providing an enormous service, Shiller gives us a powerful means to convert our ordinary riches into a level of economic security, equity, and growth never before seen. And once again, what Robert Shiller says should be read and heeded by anyone with a stake in the economy.

Author: Anne Peters
Publisher: Martinus Nijhoff Publishers
ISBN: 9004251634
Category : Law
Languages : en
Pages : 378

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Book Description
The law of immunity of states, of international organisations, and of public officials is one of the most important and most controversial topics of international law. The book consists of five parts: ‘State Immunity – National Practice’; State Immunity before the ICJ – The case Germany v Italy; ‘Commercial Activities and State Immunity’; ‘Immunity and Impunity’; and ‘Immunities of International Organisations’. Although immunities are in principle firmly anchored in international law, their precise legal implications are often unclear. The book takes up a number of new trends and challenges in this field and assesses them within the framework of global constitutionalism and multilevel governance. Contains chapters in both English and French.

Author: Julien Chaisse
Publisher: Springer Nature
ISBN: 9811913684
Category : Law
Languages : en
Pages : 727

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Book Description
This book analyses actual and potential normative (whether legislative or contractual) conflicts and complex transnational disputes related to state-controlled enterprises (SCEs) operations and how they are interwoven with the problem of foreign direct investment. Moreover, SCEs also fall within the remit of international political economy, international economics and other SCE-related fields that go beyond purely legal or regulatory matters. In this connection, research on such economic and political determinants of SCE’s operations greatly informs and supplements the state of knowledge on how to best regulate cross-border aspects of SCE’s and is also be covered in this book. The book also aims to analyse the “SCE phenomenon” which includes a wide panoply of entities that have various structures with different degrees of control by states at the central or regional level, and that critically discuss the above-mentioned overlapping legal economic and political systems which can emerge under various shades of shadows casted by governmental umbrellas (i.e., the control can be exercised through ownership, right to appoint the management, and special-voting-rights). The chapters in this book are grouped, so as to address cross-border investment by and in SCE, into four coherent major parts, namely --- (i) the regulatory framework of state capitalism: laws, treaties, and contracts; (ii) economic and institutional expansion of state capitalism; (iii) the accountability of state capitalism: exploring the forms of liabilities; and (iv) regional and country perspectives. Contributions address the core theme from a broad range of SCE and international economic regulations, including but not limited to competition law, WTO law, investment law, and financial/monetary law. They also cover the new emerging generation of Free Trade Agreements (EU-Vietnam FTA, EU China investment treaty, Regional Comprehensive Economic Partnership; and the coordination between treaty systems). The book is a valuable addition and companion for courses, such as international trade law, international law of foreign investment, transnational law, international and economic development, world politics, law of preferential trade agreements, international economics, and economics of development.

Author: Thomas Piketty
Publisher: Harvard University Press
ISBN: 0674979850
Category : Business & Economics
Languages : en
Pages : 817

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Book Description
What are the grand dynamics that drive the accumulation and distribution of capital? Questions about the long-term evolution of inequality, the concentration of wealth, and the prospects for economic growth lie at the heart of political economy. But satisfactory answers have been hard to find for lack of adequate data and clear guiding theories. In this work the author analyzes a unique collection of data from twenty countries, ranging as far back as the eighteenth century, to uncover key economic and social patterns. His findings transform debate and set the agenda for the next generation of thought about wealth and inequality. He shows that modern economic growth and the diffusion of knowledge have allowed us to avoid inequalities on the apocalyptic scale predicted by Karl Marx. But we have not modified the deep structures of capital and inequality as much as we thought in the optimistic decades following World War II. The main driver of inequality--the tendency of returns on capital to exceed the rate of economic growth--today threatens to generate extreme inequalities that stir discontent and undermine democratic values if political action is not taken. But economic trends are not acts of God. Political action has curbed dangerous inequalities in the past, the author says, and may do so again. This original work reorients our understanding of economic history and confronts us with sobering lessons for today.

Author: Mehran Kamrava
Publisher: Cornell University Press
ISBN: 0801469333
Category : Political Science
Languages : en
Pages : 205

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Book Description
The Persian Gulf state of Qatar has fewer than 2 million inhabitants, virtually no potable water, and has been an independent nation only since 1971. Yet its enormous oil and gas wealth has permitted the ruling al Thani family to exert a disproportionately large influence on regional and even international politics. Qatar is, as Mehran Kamrava explains in this knowledgeable and incisive account of the emirate, a "tiny giant": although severely lacking in most measures of state power, it is highly influential in diplomatic, cultural, and economic spheres. Kamrava presents Qatar as an experimental country, building a new society while exerting what he calls "subtle power." It is both the headquarters of the global media network Al Jazeera and the site of the U.S. Central Command’s Forward Headquarters and the Combined Air Operations Center. Qatar has been a major player during the European financial crisis, it has become a showplace for renowned architects, several U.S. universities have established campuses there, and it will host the FIFA World Cup in 2022. Qatar’s effective use of its subtle power, Kamrava argues, challenges how we understand the role of small states in the global system. Given the Gulf state’s outsized influence on regional and international affairs, this book is a critical and timely account of contemporary Qatari politics and society.