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The Rise of the Middle East Sovereign Wealth Funds:Causes,Consequences and Countermeasures
Author(s): YANG Li, Shanghai International Studies University
Pages: 4-
16
Year: 2015
Issue:
3
Journal: Arab World Studies
Keyword: Sovereign Wealth Funds; Middle East Finance; Operation of Sovereign Wealth Funds;
Abstract: The basic purpose of sovereign wealth fund is pursuing a stable and sustainable economic development,the Middle East is the first region to set up sovereign wealth funds in the world,It is a resource-based sovereign wealth fund aiming to eliminate the potential impact of oil price fluctuations on the domestic fiscal and monetary policies,and balancing the foreign exchange earnings. The sovereign wealth funds in the Middle East developed rapidly in recent years and had impact on regional economic development and macroeconomic policy. But the sovereign wealth fund in the Middle East is not able to integrate with the domestic fiscal policy and balance the domestic economic fluctuations. Therefore,in order to play a more important role,the sovereign wealth fund in the Middle East needs an improvement in investment,rules and target.
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